If you regularly collect payments such as Direct Debits from businesses and consumers, make regular or high-value payments to businesses and consumers, or make one off payments for refunds or compensation, we can help verify the ownership of the account details provided, minimising your risk of fraud and error and delivering operational efficiencies for your business.
Identify where compromised account details are provided when making payments, prevent Direct Debits being set up against compromised accounts, and gain greater confidence in your ability to minimise your fraud risk.
With over 99%* data coverage of UK bank accounts, maximise the number of accounts that are verified at point of capture. Reduce the costs associated with manual checks that failure imposes on your business and provide a better customer experience.
*Payment Systems Regulator - CP22/3 Extending Confirmation of Payee coverage
Our simple API allows you to verify account details at the point they are captured, while the customer is still engaged or make ad-hoc checks via an easy-to-use user interface. Where details need to be verified in bulk, use the bulk file facility to simply upload a file and retrieve the results.
CoP is an industry-wide, UK response to combat Authorised Push Payment (APP) fraud and misdirected payments. There are numerous ways businesses and consumers can be deceived into sending what they think is an authentic payment.
*Source – PSR – PS22/3 Extending Confirmation of Payee coverage expected to rise to 99% by October 2023
Payment Verification for Business is provided by Bottomline Payment Services Ltd (Registered in England no: 3986072), who are authorised by the Financial Conduct Authority under the Payment Services Regulations for the provision of payment services with FCA registration number 616279 and whose registered office is at 1600 Arlington Business Park, Theale, Reading, RG7 4SA.
