What We Do
Since 1989, Bottomline has been modernizing global business payments with connected solutions for more than 800,000 financial institutions and businesses in 92 countries.
Securely and efficiently manage funds disbursements
For Businesses
Streamline the collection and management of single and recurring payments
Direct submission and processing of your UK bank payments for payables and receivables
Centralize and automate all your payment creation, controls, and submissions
Comprehensive connectivity to Swift and other domestic and global financial messaging networks
For Banks & Financial Institutions For Businesses
Convert legacy financial message formats to modern message standards
For Banks & Financial Institutions
Easily view analytics of financial messages with central repository
Reduce fraud and errors through digital account verification
Efficiently screen transactions to identify and manage sanctions risk
Stop payment fraud before it happens. Detect, investigate, and protect against internal and external threats.
View, optimize, and forecast your cash position with all accounts connected in one solution
Who We Serve
Our Company
Avoid misdirected payments and meet mandates set for payment service providers by the European Payment Council’s SEPA Inst Mandate.
Verification of Payee requires payment service providers (PSPs) providing euro credit transfers to verify the identity of a payee by matching the international bank account number (IBAN) with the name of the beneficiary.
According to the European Payments Council (EPC), PSPs in the Eurozone must implement a VoP solution by October 9, 2025. For non-Eurozone countries the deadline to comply is July 2027.
The required checks apply to every SEPA Credit Transfer (SCT) and SEPA Instant Credit Transfer (SCT Inst) transaction and must take place before the payment is initiated. VoP is a key tool in mitigating Authorised Push Payments Fraud (APP) and reducing misdirected payments.
Requester:
(IBAN&NAME)
A requesting PSP can send a VoP request based on a payee name and IBAN or identification code.
Bottomline checks the EPC Directory Service (EDS) to determine where to send the VoP request.
Responder:
Bottomline stores and analyses up-to-date account information from its PSP customer as part of the matching process.
The status of the check is returned, with responses categorised as Match, No Match, Close Match, or Verification Not Possible within seconds.
Trusted Expert: Extensive domain expertise and a track record of successful implementations.
100% Compliant: Complying with EPC specifications, ensuring seamless regulatory adherence.
Award-Winning Innovation: Recognised for product innovation and excellence.
Proven Operational Excellence: High-performance infrastructure with 24/7 support.
Book a 1:1 consultation to see how you can implement Verification of Payee.
Listen to guidance from ESBI-ESBG/European Payments Council, GEVA, EBA CLEARING, and Bottomline as they unpack the latest SEPA Inst timelines. 20% of banks and financial institutions consider the lack of clarity on the requirements for verification of payees to be the most significant barrier to adopting instant payments, and 39% are waiting for further guidance.
Speak to one of our experts today.
