Six Luxembourg banks select LUXHUB to meet EU Payee Verification mandate

By Gloria Methri

Six leading banks in Luxembourg have selected LUXHUB’s Payee Verification Platform as their solution for meeting the upcoming Verification of Payee (VOP) and Routing and Verification Mechanism (RVM) requirements. The regulatory deadline is October 9, 2025.

LUXHUB’s VOP solution will be integrated into the customer payment journey across all SEPA credit transfer channels—whether retail or corporate—ensuring a consistent and secure user experience. With these banks on board, a majority of Luxembourg account holders will benefit from a harmonised verification process.

The VOP obligation, introduced under the EU’s Instant Payments Regulation (IPR), applies to both instant and non-instant SEPA credit transfers. It requires the payer’s payment service provider (PSP) to verify the payee’s information, such as name or professional identifier, with the payee’s PSP before allowing a transaction to proceed. This verification must be immediate and apply to all payment initiation channels.

A year after LUXHUB’s founding banks voiced their support for its scalable, shared VOP solution, the platform has now been formally selected following a detailed evaluation by the six banks. With fewer than seven months left to comply, the adoption of LUXHUB’s platform is expected to play a critical role in ensuring a smooth rollout of the VOP process in Luxembourg and potentially in other markets.

As highlighted by Claude Meurisse, CEO of LUXHUB, “We are proud to welcome these major banks, which represent a very large share of the bank accounts in Luxembourg, on our Payee Verification Platform. It increases the network and mutualization effects and logically strengthens the platform. At the same time, we are still working on convincing other key players to join, with the overall goal of providing a robust and efficient platform that will ensure secure and verified credit transfers for payment services users (PSUs) as well as PSPs themselves”.

LUXHUB’s Payee Verification Platform consists of two core components aimed at streamlining and securing the Verification of Payee (VOP) process:

• VOP Service Provision, which enables payee-side payment service providers (PSPs) to manage and expose real-time account name matching services securely.
• VOP Unified Access, which allows payer-side PSPs to access multiple verification services through a single interface.

This dual setup supports a more efficient and compliant way for banks to meet VOP obligations under the EU’s Instant Payments Regulation.

Using a shared platform like LUXHUB offers benefits beyond compliance—it creates a broader, interconnected ecosystem that improves service efficiency as more PSPs and accounts are added. With the European Payments Council’s (EPC) VOP Scheme aiming to link PSPs across Europe, LUXHUB’s platform is well-positioned to support wider adoption through its hub-based model.