Europe

Verification of Payee - Europe

As part of the Europe's Instant Payments Regulation, Nium adheres to the Verification of Payee (VoP) requirements.

The VoP requirements mandate that the information of local EU Accounts (issued via Nium) are provided to the VoP regulatory bodies. Nium shares the account information for local EU accounts (issued with SEPA via Nium) with the VoP regulatory bodies, so the sender can verify account details before processing the transaction.

If the customer wants to opt-out (i.e, they don’t want to share account information with the VoP regulatory bodies), the can do so using the Verification of Payee request. To opt a customer out, include theuniquePaymentId - a virtual account number for EU accounts generated via SEPA.

If you have any questions about VoP requirements, reach out to Nium Support at any time.