Research
How Confirmation of Payee is transforming Bacs payments (Market Commentary)
This Market Commentary discusses how Confirmation of Payee (CoP) and Payer Name Verification (PNV) services streamline Bacs payments by verifying account details in real-time. Learn how implementing CoP reduces payment delays, manual interventions, and fraud risks.
The article highlights the benefits of CoP, use cases, and the importance of verifying payee details for enhanced payment security and efficiency. Embracing CoP prevents scams like Authorized Push Payment (APP) fraud, automates payee confirmation, and boosts customer trust for successful financial operations.
