Remove Payer Remove RFP Remove Verification
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EPC Selects Swift for the EPC Directory Service

Fintech Finance

Swift has been selected as EDS provider after a Request for Proposal (RFP) process running in the second and third quarters of 2024 and the subsequent approval by the EPC Board in September 2024. The EDS wont store any personal data or IBAN, as it will only be used for routing purposes between business entities (PSPs and RVMs).

SWIFT 98
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TCH’s Waterhouse: Real-Time Payments’ 2021 Focus Is On Smarter, Safer

PYMNTS

First, it includes an ID&V (identity and verification) process with the customer’s bank, and the token once provisioned can include controls that limit it to its specific intended use. To further enhance the RfP, TCH is also piloting a secure document repository for bills and invoices.

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Deep Dive: Billing And The Use Of Real-Time Payments

PYMNTS

BD provides payers with information like amounts, due dates and posting dates, but not about payers’ linked bank accounts. That can lead to identity verification problems, resulting in returned or delayed transfers. RTP notifications are typically sent to payers through third-party providers using APIs in banks’ mobile apps.