In June 2020 Confirmation of Payee (CoP) was introduced bij Pay.UK. The CoP solution is mandatory for six of the high street banks.
SurePay launched CoP in March 2020, partnering with NatWest and has thus far performed 50 million checks in the UK.
According to UK.finance, in the first 6 months of 2020 there has been an increase in fraud payments with non-CoP participants, providing evidence that a wider implementation of CoP in the UK market is fundamental to reducing fraudulent and misdirected payments.
What can SurePay already do to prevent misdirected payments and fraud for your customers? What are the experiences so far? What happens when Pay.uk launches phase 2 and what are the consequences for new phase 1 participants with SurePay?
Join our webinar Confirmation of Payee, what will 2021 bring? We will look back at 2020 and give you all the information you need for CoP & 2021.
Atom Bank plc, who launched the SurePay CoP last summer, will also join the webinar to answer some questions about their view and experience with CoP.