TechnoXander is excited to offer its Combined Requester Name Verification API, designed to help Payment Service Providers (PSPs) easily verify payees during the payment process. With this API, PSPs can integrate Pay.UK’s Confirmation of Payee (CoP) and European Payments Council’s (EPC) Verification of Payee (VoP) functionalities directly into their applications, without the need for complex connections to individual banks. By leveraging this solution, PSPs can significantly reduce the risk of fraud and errors by ensuring that the name of the payee matches the account details, helping to safeguard both consumers and businesses. The Requester Name Verification API simplifies the integration of name verification by abstracting the complex routing logic required for interactions with multiple financial institutions. Developers can focus on calling API endpoints and processing responses, rather than handling intricate bank-specific integrations. To ensure security, all transactions processed through the API are digitally signed, and sensitive banking data is never stored—maintaining strict privacy and control over financial details at all times.
