Gabrielle Bugat

🏦 EPC release new Verification of Payee (VoP) guidelines for financial institutions across Europe. 🌏 The European Payments Council released new guidelines and requirements for the Verification of Payee (VoP) solution implementation across all financial institutions in Europe. Want to know what's new, check out the knowledge base below: #EPC #technoxander #vop #verificationofpayee #nameverification #paymentsecurity #onlinefraud #appscams #cybersecurity

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The European Payments Council (EPC) has unveiled the 2025 editions of its five payment scheme rulebooks, accompanied by the corresponding Implementation Guidelines. These updates are pivotal in enhancing the efficiency and harmonization of payment processes across Europe. 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝟮𝟬𝟮𝟱 𝐑𝐮𝐥𝐞𝐛𝐨𝐨𝐤𝐬 📜 𝐇𝐞𝐫𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐝𝐢𝐫𝐞𝐜𝐭 𝐥𝐢𝐧𝐤𝐬 𝐭𝐨 𝐭𝐡𝐞 𝐮𝐩𝐝𝐚𝐭𝐞𝐝 𝐫𝐮𝐥𝐞𝐛𝐨𝐨𝐤𝐬: ● 𝗦𝗘𝗣𝗔 𝗖𝗿𝗲𝗱𝗶𝘁 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 (𝗦𝗖𝗧): https://lnkd.in/e_BzDQAi ● 𝗦𝗘𝗣𝗔 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗖𝗿𝗲𝗱𝗶𝘁 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 (𝗦𝗖𝗧 𝗜𝗻𝘀𝘁): https://lnkd.in/eK2JAAYQ ● 𝗦𝗘𝗣𝗔 𝗗𝗶𝗿𝗲𝗰𝘁 𝗗𝗲𝗯𝗶𝘁 𝗖𝗼𝗿𝗲 (𝗦𝗗𝗗 𝗖𝗼𝗿𝗲): https://lnkd.in/ebjdpRmN ● 𝗦𝗘𝗣𝗔 𝗗𝗶𝗿𝗲𝗰𝘁 𝗗𝗲𝗯𝗶𝘁 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀-𝘁𝗼-𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 (𝗦𝗗𝗗 𝗕𝟮𝗕): https://lnkd.in/eP4TDhGn ● 𝗢𝗻𝗲-𝗟𝗲𝗴 𝗢𝘂𝘁 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗖𝗿𝗲𝗱𝗶𝘁 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿 (𝗢𝗖𝗧 𝗜𝗻𝘀𝘁): https://lnkd.in/eRhK3CgK ✨ 𝗬𝗼𝘂 𝗰𝗮𝗻 𝗮𝗹𝘀𝗼 𝗳𝗶𝗻𝗱 𝘁𝗵𝗲 𝗻𝗲𝘄 𝗜𝗺𝗽𝗹𝗲𝗺𝗲𝗻𝘁𝗮𝘁𝗶𝗼𝗻 𝗚𝘂𝗶𝗱𝗲𝗹𝗶𝗻𝗲𝘀 𝗵𝗲𝗿𝗲: https://lnkd.in/e5AccaFc 𝗪𝗵𝗮𝘁’𝘀 𝗡𝗲𝘄 𝗶𝗻 𝟮𝟬𝟮𝟱? These rulebooks are set to take effect on October 5, 2025, providing payment service providers ample time to align their systems and processes with the new standards. For a comprehensive understanding of these updates and their implications, stakeholders are encouraged to review the detailed rulebooks and guidelines provided by the EPC, but here is a glimpse of the key changes compared to previous versions: ● 𝗠𝗮𝗻𝗱𝗮𝘁𝗼𝗿𝘆 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲𝗱 𝗔𝗱𝗱𝗿𝗲𝘀𝘀𝗲𝘀: From November 2025, SEPA payment messages will require structured addresses, standardizing formats and significantly improving accuracy during processing. ● 𝗘𝗻𝗵𝗮𝗻𝗰𝗲𝗱 𝗜𝗻𝘀𝘁𝗮𝗻𝘁 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗥𝗲𝗴𝘂𝗹𝗮𝘁𝗶𝗼𝗻𝘀: The SCT Inst rulebook has been updated to align with the Instant Payments Regulation (IPR), promoting broader adoption of instant payments across Europe. ● 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗱 𝗥-𝗧𝗿𝗮𝗻𝘀𝗮𝗰𝘁𝗶𝗼𝗻 𝗛𝗮𝗻𝗱𝗹𝗶𝗻𝗴: Updates in the rulebooks simplify procedures for rejected, returned, or reversed transactions, reducing administrative overhead and speeding up resolution times. 💬 What do you think of these updates? Are you prepared to make the transition, or do you have questions about implementation? Let’s discuss in the comments! #Payments #SEPA #Innovation #InstantPayments #EPC2025

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💱 PSD2: More Than Just a Set of Constraints It’s easy to see why many view PSD2 as a hurdle. The regulation, designed to increase competition and security in the EU payments market, often feels like a complex set of rules to navigate. But what if we reframed it? Instead of seeing PSD2 as a constraint, consider it as a roadmap for innovation. 💫 The key is to understand that PSD2’s core principles – open banking, strong customer authentication, and consumer protection – are designed to foster a more competitive and secure payments landscape. By embracing these principles, you can create payment services that not only comply with regulations but also offer unique value to your customers. 🚀 Here’s a guide to help you leverage PSD2 for innovation: - Understand the Core Principles: Dive deep into open banking, strong customer authentication, and consumer protection. - Leverage Open Banking APIs: Use these APIs to access customer data and offer innovative services like account aggregation and payment initiation. - Prioritize Security: Implement robust security measures to protect customer data and prevent fraud. - Focus on Customer Experience: Design your services with the customer in mind, ensuring a seamless and secure experience. - Stay Updated: Keep up with the evolving regulatory landscape and any updates to PSD2. ✅ By viewing PSD2 as an opportunity rather than a burden, you can create payment services that not only comply with regulations but also thrive in the competitive EU market. #PSD2 #OpenBanking #Payments #FinTech #Regulation

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⚠ SEPA now ‘Secure Euro Payments Area’? ➡ Unveiling EPC’s VOP Scheme In the rapidly evolving landscape of digital payments, ensuring accuracy and security is paramount. The European Payments Council (EPC) has introduced the Verification of Payee (VOP) Scheme, an initiative designed to enhance the integrity of payment processes within the Single Euro Payments Area (SEPA). The VOP Scheme establishes a robust framework for verifying the alignment of Payment Account Numbers with the names of Payment Counterparties before initiating transactions. This not only mitigates the risk of misdirected payments but also fortifies the fight against fraud, fostering greater trust among users. At the heart of the VOP Scheme are three critical outcomes: Match, Close Match, and No Match. These outcomes determine the accuracy of the payment details provided by the payer. ✅ Match - For Natural Persons: A match occurs when the first and last names provided by the Requester exactly match the names registered by the Responding Payment Service Provider (PSP), after data clean-up. - For Legal Persons: A match is when the provided name matches the legal or commercial name registered by the Responding PSP. ❓ Close Match A close match is identified when there is a small deviation between the provided name and the registered name. This is to avoid unnecessary "No Match" responses and reduce payment initiation friction. Example scenarios for Close Match: Spelling mistakes within a defined level (e.g., Levenshtein distance), inversion of two letters in the name, or for legal persons, use of abbreviations or alternate names. ❌ No Match A no match is declared when neither the "Match" nor the "Close Match" criteria are met. The Responding PSP is responsible for determining the match result and may apply additional criteria based on their discretion. This flexibility is crucial in maintaining user-friendliness and minimizing unnecessary payment initiation friction. As the digital payment ecosystem continues to expand, the VOP Scheme represents a significant step towards a more secure and efficient payment environment in Europe. By aligning technological advancements with regulatory frameworks, the EPC is paving the way for a future where seamless and secure transactions are the norm. For more detailed insights, refer to the EPC's Verification of Payee Scheme Rulebook and related documents: https://lnkd.in/dpPyaxSF #DigitalPayments #EPC #VOP #SEPA #FintechInnovation

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✂️ Cut fees. Reduce costs. Transform your #payments mix for the better. What’s not to like? Merchants across Europe face a system where high fees from card networks and digital wallet providers are eating into profits. But with instant account-to-account (A2A) payments powered by open banking, there’s a better, more efficient way forward. ⚡ #InstantA2APayments bypass the significant fees and complexities of these types of payment networks. Not only this, but they offer faster, more agile and secure payments for consumers and merchants alike. 💡 Want to learn more about how A2A payments can revolutionise your payment mix? Read now to discover the benefits of A2A payments for merchants ➡️ https://lnkd.in/d__EGzuB #MerchantPayments #OpenBanking #A2APayments #DigitalWallets

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📅 Register for our webinar to learn about the impact of the EU Digital Identity Wallet on banks. Update: Nets, part of the European PayTech, Nexi Group is hosting a webinar with Intesi Group and Ubisecure to explore how banks can prepare for the EU Digital Identity Wallet. For more than two decades, Nets has held a leading position as a trusted adviser, developer and provider of critical Digital Identity infrastructure. In the webinar, the panel of experts will each bring unique insights into the challenges and opportunities for banks. Key discussion points include: 👉 The EU Digital Identity Framework and its critical components that will redefine financial services. 👉 The crucial role banks could play in the identity framework. 👉 How the EUDI Wallet will enable secure and seamless access to services across borders. 👉 The impact of eIDAS regulation, which will reshape digital ID and compliance requirements. 👉 Implementation strategies to prepare for successful wallet integration. Meet our panel of experts: Kristian T. Sørensen, Viky Manaila and Oscar Santolalla are all esteemed international speakers with a wealth of expertise in the digital identity space. Moderator will be Johan Bloemen The webinar will take place on Wednesday 19 June at 2pm British Summer Time / 3pm Central European Summer Time. Register here: https://lnkd.in/d9dmUhQC #eID #DigitalIdentity #eIDAS2.0 #EUDIwallet

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⬇ FECMA webinar: Late Payment EU Regulation ⬇ Pursuing the suggested Late Payment Regulation by the European Commission to combat late payments in Europe and to secure sound cash flow for businesses and the economy at large within the EU, a vote was taken by the European Parliament on Tuesday, 23rd April 2024 with 459 votes in favour, 96 votes against and 54 abstentions. Following the original draft of The Late Payment Regulation by the European Commission, various European stakeholders, constituted bodies and interested parties, reacted to the proposed Regulation and made their position public. Please join FECMA in this free webinar summarizing the current proposal of the regulation. We will also discuss how that impacts the credit profession and businesses in Europe overall. ⏩ register here https://lnkd.in/dNg8KETx SPEAKERS: Reuben Balzan, Josef Busuttil MBA(Henley), Dip M MCIM, FCICM, Nicolas Flouriou 💸, Ludo Theunissen, Robert Dyrcz, PICM #creditmanagement #europe #creditrisk #tradecredit #fecma #ordertocash #riskmanagement #paymentculture #webinarfecma

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Please join FECMA in this free webinar summarising the current proposal regarding EU Late Payment Regulation. The webinar will also discuss how this impacts the credit profession and businesses in Europe overall.

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🚨 New EU Instant Payments Rules: What You Need to Know About VoP and SCT Inst 🚨 The European Union has just released an 82-page FAQ addressing uncertainties around the regulation of SEPA Instant Payments (SCT Inst), particularly the Verification of Payee (VoP) process. To save you time, I’ve summarized the key points below, along with some open questions that remain to be clarified. 🔑 Key Takeaways from the FAQ: Verification of Payee (VoP): Ensures the payee’s name matches the IBAN before authorizing a payment, reducing fraud and errors. VoP applies to both regular SEPA payments (SCT) and instant payments (SCT Inst). Important Deadlines: 🗓️ 09.01.2025: All payment service providers must accept incoming instant payments. 🗓️ 09.10.2025: Providers must send outgoing instant payments. 🚀 As part of these changes, outgoing payments will require the VoP service to further enhance transaction security. ❓ Open Questions: - VoP for Joint Accounts: Question: How will the VoP process handle joint accounts with multiple account holders? Interpretation: It’s possible that the VoP will check all names associated with the account. However, this has not been confirmed in the current FAQ. - VoP for Recurring Payments: Question: What happens when the payee’s name changes due to marriage or a company rebrands, but the IBAN remains the same? Interpretation: The VoP process may require a new verification when a name mismatch occurs. Payees may need to update their details, and payers could be prompted to confirm the changes before recurring payments proceed. However, the exact process has yet to be clarified. - VoP for Scheduled Payments: Question: How will VoP be handled for scheduled payments set far in advance, where details like the payee's name might change over time? Interpretation: One possibility is that scheduled payments may trigger VoP checks closer to the payment date. If discrepancies arise, payers could be notified and asked to confirm updated details, but there is no definitive guidance on this yet. 📢 Reminder: These changes are mandatory, and it's crucial that PSPs and businesses prepare for the upcoming deadlines. The VoP process is a game-changer for payment security across SEPA, but some aspects, especially around joint accounts, name changes, and scheduled payments, still need further clarification.

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NEWS: EMVCo has launched an interactive white paper to help banks, solution providers and merchants to optimise the EMV® 3-D Secure (EMV 3DS) #payment authentication experience. 🛒 The new online resource demonstrates how EMV #3DS solutions can better support key use cases including frictionless authentication, out-of-band authentication, and recurring and instalment transactions.  Learn more: https://bit.ly/4eEr0iF

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PSD3 changes in European payment services regulations present both challenges and opportunities for fintechs. Adopting proactive preparation is crucial for fintechs to comply with new regulations, thrive in the new landscape, and establish new consumer trust and security standards. Learn how to prepare for PSD3 in our latest blog 👉 https://form3.co/3yt0oRF #PaymentsPlatform #CloudNative #PSD3 #PaymentFraud #Eurozone #Payments #FinancialCrime #Fintech

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🚀 We are excited to share that Payment Roaming has come to life! 🚀    A huge thanks to Dr Michael Salmony for hosting an insightful discussion with #Bluecode CEO and #EMPSA Chairman Christian Pirkner. Take a look at the interview now to learn more about the incredible potential of an interoperable European payment system! 🎧🇪🇺   #PaymentRoaming #mobilepayment #interoperability

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Bluefin, the integrated payments pioneer in PCI-validated Point-to-Point (P2PE) encryption and tokenization services that protect payments and sensitive data, today announced the completion of Elavon certification for SUNMI Payment Terminal. Bluefin customers using the company’s TECS Platform and processing through Elavon can order the devices right away. Bluefin’s TECS payment platform provides omnichannel payment solutions to Acquirers, Payment Service Providers, POS system providers, Independent Software Vendors, and other merchant aggregators around the globe, offering a cloud-based Payments Platform-as-a-Service. As a PCI-validated Point-to-Point Encryption solution, Bluefin customers achieve the benefits of secure devices, applications, and processes that encrypt credit card data immediately upon swipe or dip in the payment terminal. It can also reduce the PCI DSS compliance burden by more than 90%. “Completing Elavon certification for Android-based Sunmi Payment Terminal gives us an opportunity to deliver the benefits of point-to-point encryption through more payment devices and to a wider global customer base,” said Tim Barnett, Chief Information Officer of Bluefin. “We focus on seamless payment experiences that keep sensitive data secure, while enabling our customers to grow revenue with omnichannel payment experiences. This certification aligns with that strategy.” “Bluefin is well known as the leader in PCI-validated encrypted payments,” said Axelrod Guo, Product Marketing Director, SUNMI. “There is a growing market for highly functional payment solutions that are both affordable and secure. Partnering with Bluefin is more than a technology implementation, they also lead in payments and PCI compliance expertise. Ultimately, SUNMI users will appreciate the combination of our cutting-edge technology with Bluefin’s PCI-validated payment security.” More information: https://lnkd.in/gCNMJg6u #Tecs #Bluefin #smartPOS #omnichannel #p2pe #payments #paymentsolutions #paymentsindustry #androidpos Bluefin Payment Systems SUNMI

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PYMNTS interviewed our CEO Ralf Germer and highlighted PagBrasil's pioneering role after the launch of International Pix and Pix Roaming.   Since the launch of Pix by the Central Bank of Brazil at the end of 2020, the digital payments landscape in the country has changed drastically. Approximately 73 million Brazilians have joined the financial system, enabling quick and easy transactions via mobile phones. As highlighted by Ralf Germer, CEO and founder of PagBrasil, "Brazilians are very open to new things." This openness has driven the shift to digital payments and transformed the way money transactions are made. PagBrasil, a pioneer in payment solutions, is ready to push this revolution further with the launch of two new extensions: Pix Roaming and International Pix. These solutions are designed to enhance the payment experience for Brazilian consumers traveling abroad and tourists visiting Brazil. Given the widespread adoption of Pix, Brazil stands out as one of the most digitally connected countries, even surpassing traditionally mature economies like the USA, the UK, and Germany. Germer emphasizes that Pix offers greater efficiency and cost-effectiveness, with instant settlement and lower fees compared to credit cards. PagBrasil continues to lead in this digital transformation by offering innovative solutions that benefit both consumers and merchants alike.   Read the article and interview with Ralf Germer, led by Karen Webster, to get more details about Pix's new extensions:  https://lnkd.in/g7MyM5S3 #PagBrasil #Pix #FinancialInnovation #DigitalTransformation #PixRoaming #PixInternational

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The PSD3 and PSR are intended to replace and modernize the current Payment Services Directive or PSD2. https://lnkd.in/gmdMCKCe #fintech #openbanking #financialservices #regulation #payments

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𝗨𝗻𝗱𝗲𝗿𝘀𝘁𝗮𝗻𝗱𝗶𝗻𝗴 𝘁𝗵𝗲 𝗜𝗺𝗽𝗮𝗰𝘁 𝗼𝗳 𝗣𝗦𝗗𝟮 𝗼𝗻 𝗣𝗮𝘆𝗺𝗲𝗻𝘁 𝗣𝗿𝗼𝗰𝗲𝘀𝘀𝗶𝗻𝗴 𝗳𝗼𝗿 𝗠𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀 𝗪𝗵𝗮𝘁 𝗶𝘀 𝗣𝗦𝗗𝟮? PSD2 is a European regulation aimed at increasing competition, innovation, and security in the payment industry. It mandates stronger customer authentication (SCA) and opens up payment data to third-party providers, promoting greater transparency and customer control. 𝗛𝗼𝘄 𝗱𝗼𝗲𝘀 𝗣𝗦𝗗𝟮 𝗮𝗳𝗳𝗲𝗰𝘁 𝗔𝗺𝗲𝗿𝗶𝗰𝗮𝗻 𝗺𝗲𝗿𝗰𝗵𝗮𝗻𝘁𝘀? Enhanced Security: The focus on SCA means that global merchants, including those in the U.S., will need to adopt stricter security measures to protect against fraud and ensure compliance with international standards. Increased Competition: By allowing third-party providers to access payment data, PSD2 encourages innovation and new payment solutions, potentially offering American merchants more options for payment processing and customer engagement. Global Trade Considerations: For U.S. merchants dealing with European customers, understanding PSD2 and its requirements becomes essential to ensure smooth and compliant cross-border transactions. #PSD2 #PaymentProcessing #Global1Solutions #MerchantSolutions #PaymentSecurity

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How is PSD3 different to PSD2? How will leveraging open data take open banking to a whole new level of interconnected digital services for consumers?    In a recent interview with FinTech Magazine, Bart Willaert, EVP Open Banking, International Markets at Mastercard, sat down with journalist Louis Thompsett to talk about PSD3, the future of open banking and how leveraging open data takes open banking to a whole new level 🙌   Let’s deep dive into some of the key questions around this topic to get a better understanding of this regulation 👇 https://lnkd.in/dQBHxsxZ   #MastercardOpenBanking #PSD3 #OpenData

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