FICO

OCTOBER 24, 2018

Given the impact this type of fraud has on both victims and banks Pay.UK (previously known as the New Payment System Operator) has announced that from next year there will be a confirmation of payee service. This will allow those sending payments to check that the name on the account matches that of their intended recipient.

Payee 49

Payee Payer Payments Scams 49

The Fintech Times

FEBRUARY 4, 2024

The organisations looking for this clarification are the European Third Party Providers Association (ETPPA), the European Fintech Association (EFA), the Electronic Money Association (EMA) and the European Payment Institutions Federation (EPIF). To be clear, payers never get into the CDD scope of e.g

AML 59

AML Regulations Payer Due Diligence 59

Fintech Finance

MARCH 25, 2024

It has since launched numerous Open Banking products, including Confirmation of Payee (CoP), Payer Name Verification (PNV) and Account Information Services (AIS) solutions.

Government 52

Government Governance Payee Payer 52

M2P Fintech

MARCH 28, 2024

eCheck eChecks are digital versions of physical checks, offering a secure and convenient method of payment initiated online through the user’s bank account. Push Payments Push payments are a type of electronic transaction where the payer actively initiates the transaction and sends funds directly to the payee.

FinTech 59

FinTech Online and Mobile Banking Push-to-Card Payer 59

PYMNTS

MAY 1, 2020

In many ways, the rise of crypto and digital currencies like Bitcoin aims to address some of these issues, empowering payers and payees with a way of bypassing the “middleman” of the inter-banking system for faster transaction speeds.

Digital Currency 68

Digital Currency Accounts Cross-Border Stablecoins 68

PYMNTS

NOVEMBER 17, 2017

At least, that’s according to a report from the EuroFinance Corporate Treasury Network published last month, which found less than half of corporate treasurers say having the ability to make a real-time payment is a priority. But as more FinServ players explore B2B payments use cases for faster payments initiatives, like the U.K.’s

Faster Payments 41

Faster Payments Payer Real Time Payments Payments 41

FICO

APRIL 6, 2020

What Can the Industry & Real-Time Payments Schemes Do? There are systemic steps that can be taken to protect the payments infrastructure independent of the banks, including: Confirmation of payee. Schemes could look to integrate a “confirmation of payee” service into the real-time payments’ initiation process.

Real Time Payments 52

Real Time Payments Money Laundering Payee Payments 52