How the October 2025 VoP Deadline Showed What Could Be Possible

Why It Matters

VoP’s swift deployment shows industry cooperation can accelerate compliance and strengthen anti‑fraud capabilities, but banks’ slower change cycles and the need to harmonize global rules mean continued vendor support and regulatory alignment will be crucial for scaling verification worldwide.

Summary

Speakers said the October 2025 Verification of Pay (VoP) deadline was a rapid but largely successful pan‑European rollout, driven by account data providers (RVMs) such as Banfico and close coordination with the European Payments Council to fix implementation issues. Only a small number of PSPs connected directly to the scheme, so much of the work occurred behind the scenes and a new rulebook version is expected to resolve remaining gaps. RVMs are collaborating while still offering competing technical options, and ongoing Brussels‑led fraud initiatives will fold VoP into a broader regulatory push. Bani is positioning itself to support cross‑border IBAN/name checks as VoP functionality spreads to other jurisdictions and is incorporated into future payment services rules.

Original Description

Joining FinextraTV at NextGen Nordics 2026 in Stockholm, Paulo Barbosa, COO, Banfico helped to discuss verification of payee progress. Following on from the implementation deadline in October 2025, Barbosa describes what lessons can be learn from the perceived success of what was seen as a tight deadline. Barbosa said that RVM collaboration has helped significantly in progressing VoP and that broader industry collaboration and a changing face of competition that will be key to future successes within regulatory deadlines.

00:00 - 00:40 - Introduction

00:40 - 02:13 - Reflections on October 2025 Deadline

02:13 - 03:37 - Lessons for Other Regulations

03:37 - 05:14 - What's Next?

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