The VOP scheme will offer to the payment service providers (PSPs) a pan-European solution answering to the obligation to implement an IBAN-name check service, as stipulated by the Instant Payments Regulation.
The European Payments Council (EPC) launches a public consultation on the Verification Of Payee (VOP) scheme rulebook. The consultation will run for a 90-calendar day period from 20 February up to and including 19 May 2024.
All interested stakeholders are invited to participate in the public consultation by sending their feedback on the proposed VOP scheme rulebook and the proposed EPC recommendations for the matching processes under the VOP scheme rulebook, via e-mail to change-request.EPC-scheme@epc-cep.eu by 19 May 2024 (midnight Brussels time) at the latest. To submit your feedback please use the response template (EPC289-23). Feedback received after this specific date and time will not be considered.
More information about the public consultation can be found under the link below:
Public consultation on the Verification Of Payee Scheme Rulebook
In the period from end-May to August 2024, the EPC will then review the feedback received from this public consultation. The EPC aims to have the formal version 1.0 of the VOP scheme rulebook, the related VOP scheme Inter-Payment Service Provider (PSP) Application Programming Interface (API) specifications, and the EPC recommendations for the matching processes under the VOP scheme rulebook ready by the end of September 2024. The 2024 VOP scheme rulebook itself would then enter into force in September 2025.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
