UK, 14 May 2025: Konsentus, a global provider of open banking trust infrastructure, today announced the launch of a fully managed Verification of Payee (VoP) service across Europe. This new offering helps banks and payment service providers (PSPs) comply with the upcoming Instant Payments Regulation (IPR) and combat payment fraud.

Recognised as a Routing and Verification Mechanism (RVM) provider under the European Payments Council’s (EPC) VoP scheme, Konsentus enables institutions to meet the October 2025 IPR deadline. VoP ensures that the name of a payment recipient matches the IBAN provided, adding a crucial layer of protection against fraud and misdirected payments. In the UK, Confirmation of Payee (CoP), launched in 2020, has led to a nearly 60% reduction in payment fraud.

With VoP becoming mandatory across the Eurozone, financial institutions are under pressure to implement compliant solutions – not only to avoid liability, but to protect consumers and maintain trust in instant payments.

“Becoming an RVM provider is a natural extension of our core mission: to deliver trust in digital finance,” said Brendan Jones, COO of Konsentus. “Our technology has consistently empowered banks to identify and interact with confidence. With our fully managed VoP service, we offer PSPs across Europe a compliant, scalable and ready-to-deploy solution that meets EPC requirements, protects customers, streamlines operations and fosters long-term confidence in instant payments.”

The Konsentus VoP offering is a cloud-based, fully managed solution supporting both request and response functionality – including match, no match and close match outcomes – with real-time or batch processing options. It integrates seamlessly with the EPC Directory Service (EDS) and other EU PSPs via a simple API, enabling rapid onboarding and interoperability across the SEPA zone.

For institutions pursuing in-house VoP strategies, Konsentus also provides its Certificate Chain Service (KCCS), which automates eIDAS QWAC certificate authentication. This removes the operational burden of manual trust store management and strengthens API security.

With deep expertise in building secure, scalable trust infrastructure for open finance, Konsentus is uniquely positioned to support PSPs on their path to VoP compliance. Its VoP solutions are designed to reduce complexity, enhance efficiency, and build confidence in every transaction, helping Europe’s payments ecosystem meet regulatory obligations and safeguard public trust in instant payments.