SurePay opens Confirmation of Payee checks portal for UK banks

By Gloria Methri

SurePay has launched an online portal that enables UK banks and payment service providers (PSPs) to perform Confirmation of Payee checks. This innovative solution can be offered alongside SurePay’s existing Confirmation of Payee solution, which helps protect customers against fraud, and ensures compliance with Pay.UK guidelines.

Confirmation of Payee is a fraud prevention measure introduced in the UK to combat the increasing instances of Authorised Push Payment (APP) fraud.

This type of fraud involves criminals tricking individuals into making payments to them by posing as legitimate individuals or businesses. Confirmation of Payee checks helps prevent this type of fraud by verifying the recipient’s name against the account details held by the Bank or PSP.

SurePay’s online portal makes it easy to perform these checks with one integrated portal offering to execute checks in the EU and the UK.

In addition, access to CoP through this portal can be offered to corporate customers preventing fraud and errors and facilitating the onboarding of customers, suppliers, and employees. Customers’ or supplier files and bulk payments can also be checked by uploading them to the portal.

SurePay’s Confirmation of Payee solution is already being used by several UK banks and building societies, and the launch of the online portal is expected to further strengthen the company’s position as a leading provider of payment verification solutions.

David-Jan Janse, CEO of SurePay, said, “We are delighted to launch our new online portal, which makes it easy for UK banks and PSPs to perform Confirmation of Payee checks. Now immediately can be checked whether you have the correct customer, supplier, or employee details.”

SurePay has been supplying Confirmation of Payee in the UK since 2020 and is said to have become the largest vendor. SurePay is also active in several other European countries, including France and Italy.