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Paynetics Extends Partnership with tell.money to Launch Verification of Payee
Paynetics, a leading provider of embedded finance services across Europe, has extended its partnership with open banking infrastructure provider tell.money to roll out Verification of Payee (VoP) across the Single Euro Payments Area (SEPA).
The move builds on the two companies’ existing collaboration, which saw tell.money support Paynetics in meeting UK Confirmation of Payee (CoP) requirements. VoP allows payment service providers to check that a recipient’s name matches their IBAN before a transaction is processed. For businesses handling high volumes of cross-border payments, this extra layer of verification can make a measurable difference, not only in fraud reduction but in customer confidence.
“As fraud risks evolve and regulation moves fast, we want our partners to stay protected, without having to build complex solutions themselves. tell.money helps us deliver just that: reliable, compliant infrastructure that’s easy to deploy and built to scale.” Valeri Valtchev CEO at Paynetics, commented.
The companies first partnered to bring Confirmation of Payee (CoP) to Paynetics’ UK offering. Now, with SEPA in scope, the partnership moves into its next phase, built around the fully managed VoP solution from tell.money. With real-time payments rising and fraud risks following close behind, VoP offers a simple but powerful layer of protection: it checks if the recipient’s name matches the IBAN before a payment is sent. Less guesswork. Fewer mistakes. More trust.
The platform provides out-of-the-box functionality for non-bank PSPs, EMIs, and fintechs, covering everything from implementation and fallback support to live monitoring and updates.
“We focus on removing the friction from compliance,” added David Monty, Founder of tell.money. “Our job is to handle the heavy lifting, so providers like Paynetics can focus on what they do best.”
As instant payments become the standard across Europe, VoP is expected to play an increasingly important role in preventing fraud and ensuring trust across transactions. This rollout positions Paynetics to meet upcoming regulatory expectations while continuing to scale its embedded finance offering across Europe.
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