Global fintech SumUp has implemented Confirmation of Payee (CoP) in the UK, as the company takes additional steps to protect merchants and users from bad actors and fraud. CoP is a name-checking service, launched by Pay.UK in 2020, which “validates recipients’ account details before transfers… Read More
Read more in: Fintech, Global | Tagged confirmation of payee, payments, sumup, uk, united kingdom
Clear Junction, a firm focused n cross-border payments solutions for regulated institutions, has announced the launch of its new Confirmation of Payee (CoP) service. Available for clients receiving GBP payments in the UK, the new service “will boost the security of these transactions amid the… Read More
Read more in: Fintech | Tagged clear junction, confirmation of payee, cross-border payments, dima kats, europe, financial services, uk, united kingdom, update
Railsr, the embedded finance experience platform, has chosen SurePay as its UK Faster Payments (UKFP) Confirmation of Payee (CoP) vendor in order to assist its clients with combatting fraudulent activities and misdirected payments carried out in the United Kingdom. With SurePay, Railsr may now take… Read More
Read more in: Fintech, General News | Tagged confirmation of payee, david-jan janse, embedded finance, europe, fraud, fraudulent activities, payments fraud, railsr, surepay, uk, uk faster payments, united kingdom
allpay recently announced the introduction of their Confirmation of Payee solution. Developed in-house, the tech should enable the Hereford-based payment service provider’s 16,000 Banking Lite cardholders to take advantage of the Open Banking ecosystem. Clients can link up their allpay pre-paid account to other banking… Read More
Read more in: Fintech | Tagged allpay, banking, confirmation of payee, europe, michelle pacey, open banking, payments, uk, united kingdom
LHV UK, a banking services provider to more than 200 Fintech and crypto firms, is pleased to announce its Confirmation of Payee (CoP) service is currently live for all its direct clients. Introduced in July 2020, CoP is a fraud prevention system that’s led by… Read More
Read more in: Fintech, Global | Tagged app fraud, authorized push payment, confirmation of payee, cop, erki kilu, europe, fraud, fraudulent activities, lhv uk, open banking, pay.uk, payments, uk, united kingdom
SurePay, the Confirmation of Payee provider, announced that it has supported Virgin Money with the implementation of its UK Confirmation of Payee solution in order to protect consumers against fraudulent activities and misdirected payments. Confirmation of Payee is a way of giving users more assurance… Read More
Read more in: Fintech, Global | Tagged confirmation of payee, consumer protection, david-jan janse, digital transactions, fraud, payments, security, surepay, uk, united kingdom, virgin money
NatWest has introduced an API that allows commercial clients to embed Confirmation of Payee into their own systems and processes. Confirmation of Payee was launched across the United Kingdom’s banking sector in June 2020 in order to combat scammers and safeguard against user errors. The… Read More
Read more in: Fintech, Global | Tagged apis, confirmation of payee, digital payments, digital transactions, europe, natwest, natwest group, payments, uk, united kingdom, virtual payments
Millions of UK bank account holders are “putting themselves at a much greater risk” of fraud by ignoring warnings provided by the Confirmation of Payee (CoP) service. This, according to research by Lloyds Bank. When sending funds online to someone that hasn’t been paid before,… Read More
Read more in: Fintech, General News, Global | Tagged banking, confirmation of payee, consumer protection, europe, financial institutions, financial services, fraud, fraudulent activities, research, Research Report, scam, scams, uk, united kingdom
SurePay, a Rabobank spin off that offers Confirmation of Payee (CoP) in the United Kingdom and Benelux, has secured €12.2 million through a round that was led by Connected Capital with Iris Capital also joining Rabo Frontier Ventures in the fundraise in order to support the… Read More
Read more in: Fintech, Global | Tagged confirmation of payee, cop, europe, harrie vollaard, investment round, iris capital, netherlands, rabo frontier ventures, rabobank, surepay, uk, united kingdom
Digital bank Revolut has announced a new service: Confirmation of Payee – available to over 3 million UK customers. The feature is part of Pay.UK’s anti-fraud initiative, according to a release. The feature has been enabled by its payments partner Modulr, one of the few… Read More
Read more in: Fintech, Global | Tagged anti-fraud, confirmation of payee, modulr, Myles Stephenson, nik storonsky, revolut, uk, united kingdom
Earlier this week, Modulr reportedly became the very first non-bank or building society to join the Confirmation of Payee service, which allows people to check whether the payment details they’ve provided for an individual or company match the details that are held by the recipient’s… Read More
Read more in: Fintech, Global | Tagged confirmation of payee, financial fraud, fraud, fraud prevention, fraudulent activities, fraudulent transactions, modulr, Myles Stephenson, pay.uk, payment confirmation, payment fraud, uk, united kingdom
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