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Anti-Fraud Tool Confirmation of Payee Expanded to Hundreds of More Firms

Fintech Finance

Today, the Payment Systems Regulator (PSR ), marks another significant milestone in its fight to tackle fraud, as hundreds of additional financial firms adopt the name-checking service, Confirmation of Payee (CoP). These rules also incentivise payment firms to innovate and implement stronger fraud prevention methods.

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U.S. Faster Payments Council Publishes International Report on Mitigating Faster Payments Fraud

Fintech Finance

Faster Payments Council (FPC) , a membership organization devoted to advancing safe, easy-to-use faster payments in the United States, have released the latest report from the FPC Fraud Work Group, sponsored by Nasdaq Verafin: International Practices in Mitigating Faster Payments Fraud. payments landscape.

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Pay.UK Expands Confirmation of Payee to Meet Growth of Faster Payments Transactions in the UK

The Fintech Times

Pay.UK , the independent, not-for-profit operator of the UK’s national retail payments system, is expanding ‘Confirmation of Payee’, significantly bolstering protection for UK consumers against Authorised Push Payment (APP) fraud and misdirected payments. billion checks as of September 2024 and conducting over 2.1

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PSR’s Annual Report Shows a Year of Significant Milestones

Fintech Finance

The PSR Annual Report shows that the UK has made progress in regulating payments over the past year. The Payment Systems Regulator (PSR) says that it has made progress in fighting APP fraud, making faster payments more available, and making card fees more clear.

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Airwallex Bolsters Its UK Payment Capabilities with ClearBank Partnership

Fintech Finance

Through this collaboration, Airwallex will leverage ClearBank’s agency banking solution to enhance its UK offering with virtual business accounts, GBP collections, and Confirmation of Payee (CoP) functionality. ClearBank has enabled the global fintech to issue virtual accounts and IBANs under its own brand identity.

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ACI Worldwide Extends Fintech Partnership Ecosystem to Fight APP Fraud in Europe and the UK

Fintech Finance

Through the partnership with Banfico, ACI will support UK and European banks and payment service providers (PSP) to comply with mandates to offer Confirmation of Payee (CoP) and Verification of Payee (VOP) services. Additionally, Banfico is a Pay.UK-certified

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payabl. and ClearBank Join Forces to Enhance UK Payment Services

Fintech Finance

now provides businesses with seamless access to all major UK payment schemes – Faster Payments, BACS, and CHAPS – enabling real-time transactions in GBP. Through this collaboration, payabl.