The rulebook specifies that a Verification of Payee (VoP) request must be answered within 5 seconds, with a preferred execution time of 1 second or less.

This timing begins once the Requesting Payment Service Provider (PSP) has verified the accuracy of the information provided by the Requester, particularly the IBAN structure. The timing ends when the Requesting PSP receives the VoP response from the Responding PSP.

If the Requesting PSP does not receive a VoP response within 5 seconds, it should inform the Requester that the “Verification check is impossible”.

To initiate a VoP the following information will be required:

1. Payment Account Identifiers:
   Details such as the International Bank Account Number (IBAN) or other relevant account numbers.
2. Payee Name:
   The name of the intended recipient of the payment.
3. Requesting Payment Service Provider (PSP):
   Who initiates the VoP request.
4. Requester Information:
   Details about the entity or individual requesting the verification.
5. Verification Details:
   Any additional information necessary to verify the accuracy of the provided account identifiers and payee name.

• $billions of losses annually to APP scams. APP fraud losses in Europe are estimated to reach up to €2.4 billion a year, with annual growth rates of 20 to 25. An example that comes from Banque de France, which reports that in France, APP fraud accounts for 59% of total fraud in terms of value.
• More than half of fraudulent transactions could be prevented with proper payee verification
• VoP implementation and usage guarantees increased trust in your brand
• October 2025: Mandatory VoP compliance deadline