The future of instant payments in Europe: New regulatory requirements

The rise of instant payments in Europe is driven by regulations promoting SEPA Instant Credit Transfers (SCT Inst) and combating fraud. Eurozone payment service providers (PSPs) must receive instant payments by January 2025 and send them by October 2025, with a longer timeline for non-Eurozone PSPs.

A key change is the mandatory Verification of Payee (VoP) service, requiring payer banks to verify the beneficiary name against the IBAN before transfers, preventing fraud and errors.

This white paper can provide you with insight into how Worldline's VoP solution can help banks with compliance, offering routing, real-time name matching, and response codes. It also assists payee banks in managing VoP requests.

Read the white paper to learn more.

Vendor:: Worldline
Posted:: Nov 18, 2024
Published:: Nov 19, 2024
Format:: PDF
Type:: White Paper

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