Confirmation of Payee 

Protect your business and your customers against Authorised Push Payment (APP) fraud by joining the Confirmation of Payee (CoP) framework.

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confirmation of payee

Confirmation of Payee – Phase 2

Building on the success of Phase 1, Pay.UK is now progressing a new phase of Confirmation of Payee (Phase 2) which will enable broader participation to create a ubiquitous capability for all account holding PSPs, if they choose to join.

Find out more

What is CoP? 

When consumers and businesses make a payment, Confirmation of Payee (CoP) shows them if the money’s going to the right account. Before they transfer the funds, they can verify that the name on the recipient account is the same person or business they intend to send the money to, so funds end up in the right place.

CoP plays a central role in protecting against certain types of Authorised Push Payment (APP) fraud – if the name on the account doesn’t match, CoP highlights the risks.

Who can join?

Banks, building societies and other payment providers can now apply to join the Confirmation of Payee service.

  • Smaller PSPs unable or unwilling to meet the full Open Banking PSD2 membership requirements.
  • PSPs regulated by non-PSD2 National Competent Authorities, such as those in the Crown Dependencies.
  • PSPs that do not own their own sort code in the EISCD.
  • Accounts addressable by secondary reference data.

Banks already enrolled in CoP

Why participate in CoP?

  • Protect yourself and your customers against APP fraud and misdirected payments.
  • If you don’t have CoP, customers are warned against paying money into your accounts – putting your reputation at risk.
  • Customer uncertainty could result in a loss in deposits and revenues, with funds flowing to providers which offer CoP.

Questions on COP?

Any potential new participant interested in finding out more about Confirmation of Payee Phase 2 can contact Pay.UK using the link below.

Contact Pay.UK