iPiD Publishes Essential Guide for Payment Service Providers: “Verification of Payee: The Race to Compliance”

iPiD, a leading payment validation solutions provider, today announced the publication of a pivotal whitepaper, “Verification of Payee: The Race to Compliance,” authored by CEO Damien Dugauquier. This comprehensive guide offers Payment Service Providers (PSPs) an in-depth analysis and actionable strategies to comply with the European Verification of Payee (VoP) mandate by October 2025. The paper is now available on the iPiD website at www.ipid.tech/verification-of-payee-the-race-to-compliance.

The VoP mandate represents a significant evolution in payment security, setting new standards to prevent misdirected payments and shifting liability from payers to PSPs. iPiD’s whitepaper outlines the technological, operational, and strategic adjustments necessary for PSPs to achieve compliance, emphasising the importance of interoperability, open data services, and the integration of secure API endpoints across the European payments ecosystem.

Authored by Damien Dugauquier, the whitepaper encapsulates insights from a distinguished panel of contributors, reflecting a wealth of experience across the financial and technological landscapes. The contributors include:

• Christian Sarafidis, Chief Executive EMEA Financial Services at Microsoft, shares insights on the digital transformation and cloud integration journey within the banking sector, highlighting the advantages of Azure for modern banking solutions.
• Jeroen Holscher, Global Head of Payment Services at Capgemini, discusses the critical aspects of VoP integration within banking channels from both the payer and payee perspectives, emphasising data quality and fraud prevention.
• Eran Vitkon, Head of Open Banking Solutions at Finastra, highlights the partnership with technology providers like iPiD and the role of innovative solutions in combating fraud within instant payment processes.
• Ed Metzger, VP of Payments Efficiency at LexisNexis® Risk Solutions, provides a global perspective on the VoP proposals’ impact on fraud prevention, emphasising a strategic approach for banks and corporates.
• Laurent Sarrat, CEO and Co-Founder of Sis ID, offers insights into the VoP’s application for large companies, stressing the importance of a unified approach to fraud detection and detailed analysis of bank detail validation.
• Frans C. van Beers, Senior Policy Consultant Payments at the Dutch Payments Association and Chair of the CoP (VoP) Task Force at the European Payments Council (EPC), elaborates on the standardisation efforts for VoP interoperability within SEPA, highlighting the establishment of a VoP Rulebook aimed at fostering efficient processing across markets and ensuring interoperability between PSPs.
• Vitus Rotzer, Chief Revenue Officer at Bottomline, brings to light the journey of the  UK’s Confirmation of Payee service and its efficacy in reducing APP fraud, providing  a benchmark for the VoP mandate’s success and future enhancements.

With the Verification of Payee mandate, we stand at a critical juncture in enhancing payment security and integrity across Europe,” said Damien Dugauquier, CEO of iPiD. “Our whitepaper not only guides PSPs through the compliance journey but also illuminates the path towards leveraging these changes for developing premium payment security solutions. It’s a testament to the collaborative effort of leading  industry experts to fortify the payment ecosystem against fraud.”

The whitepaper provides a roadmap for PSPs, detailing the steps for compliance within the next six months, including reviewing core banking capabilities, engaging with local payment systems, and leveraging specialist providers for streamlined VoP implementation.