Verification of Payee – Requester

The Requester API enables a payer’s PSP (Payment Service Provider) to send real-time verification requests to another PSP. It confirms whether the provided IBAN and payee name (or legal ID/VAT/LEI) match records at the payee's bank.

How it works

Request: The API is based on the ISO 20022 standard – Customer Credit Transfer Initiation (pain.001.001.12) message. The API accepts an XML payload with payee details (name, IBAN, optional identifiers, plus BICs for routing) as per ISO 20022 specifications.

Response: Within 1–5 seconds, it returns a match result—Match, Close, No match, or Unavailable—so the payer can proceed, correct details, or cancel the payment.

Key Features

ISO 20022-compliant structure and payloads

Supports RT (real-time) and bulk file-based verification

Can check legal entity IDs (e.g., VAT/LEI) in addition to names

Typically secured via HTTPS, OAuth, and IP whitelisting

Integrates seamlessly with an EPC Directory Service for routing to the correct responder PSP

Why it matters?

Prevents fraud (e.g., APP scams) and misdirected payments

Meets SEPA and EU Instant Payments regulatory standards (IPR/VoP, effective Oct 2025)

Reduces downstream issues, builds customer trust, and lowers operational risk

Requester – Payee Verification (XML)

Verification of Payee – Requester#

How it works#

Key Features#

Why it matters?#

Verification of Payee – Requester

How it works

Key Features

Why it matters?