Join Confirmation of Payee via the OBIE Directory

Protect against fraud, poor user experience and reputational damage – all with a simple, automated check.

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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. CoP does this by verifying the name on the bank account, 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.

Step 1
  • *Enrol into the OBIE Directory
  • Conduct ID verification due diligence
  • Sign contract
  • Notify the OBIE once you have selected a vendor as your technical provider

*Can be carried out in parallel with Pay.UK registration
**2 week average time frame, subject to individual requirements

Step 2
  • *Register with Pay.UK
  • Sign NDA, obtain paperwork
  • Sign Order Agreement
  • Complete Pay.UK enrolment
  • Complete Pay.UK test pack and self attestation report

*Can be carried out in parallel with enrolment into the OBIE Directory
**2 week average time frame, subject to individual requirements

Step 3
  • Client selects and/or engages with Vendor
  • Sign Order Agreement
  • Commence integration with vendor sandbox
  • Client migrates from sandbox to production
  • Vendor on-boards with existing CoP participants
  • Client is Live (ongoing activity as new clients join)

*12 week average time frame, subject to individual requirements

Enrolment for first phase of CoP

Working with Pay.UK, we have managed to create a process whereby if you are enrolled into the OBIE Directory, are an ASPSP, and have a sort code allocated to you with your bank code in the EISCD, then you can take advantage now to be part of the first phase of Confirmation of Payee.

Why join the first phase of 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? Our enrolment team can answer them.

Book a call today