SurePay makes payments personal, easier and even more secure and verifies if the name entered in online banking matches with one of the names registered in the SurePay database. The check gives a notification if something deviates. This way you can check whether you are paying the right person or company. SurePay performs over 350,000 checks a day in the UK and has worked closely with Pay.UK to launch its Confirmation of Payee solution.
Total global checks since 2017
- Banks using SurePay CoP
- No match warnings
- Average uptime
- of all online payments in the UK
- Checks per day
- 62 ms
- Average processing time
Best in class Conformation of Payee solution
SurePay Confirmation of Payee ‘s matching algorithm combines cutting-edge data science techniques with profound knowledge of transactions and payer’s behavior to help prevent fraud and mistakes whilst facilitating Straight Through Processing. The SurePay algorithm is specifically designed for Confirmation of Payee from scratch. Every check should be accurate to avoid false positives or false negatives. It looks quite simple but it's quite complex for example Elisabeth is a match with Betty, but also we take into account initials, joint account, abbreviations, truncations, out of order and many other human inconsistencies.
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