SurePay Confirmation of Payee helps to prevent fraudulent and misdirected transfers

SurePay Confirmation of Payee essentially provides technical solutions that allow PSPs to provide their customers with real-time feedback on the correctness of entered beneficiary details when making a transfer – a Confirmation of Payee. SurePay’s Confirmation of Payee solution features the following key components:

  • A tried-and-tested name matching functionality;
  • Various options for data management; and
  • Open Banking connectivity.

The key features of SurePay Confirmation of Payee

  • Robust and intelligent name matching algorithm
  • Dedicated data management functionalities for ASPSPs
  • Open Banking connectivity for Confirmation of Payee

The need for a 'name check'

The UK Payment Systems Regulator ordered the so called Highstreet Banks to assure implementation of Confirmation of Payee (CoP) by the end of June 2020. CoP allows payers to obtain increased confidence that they are sending funds to the correct payee by verifying the account details they entered against the account details registered with the payee’s bank for an account.
CoP technology is devised to safeguard banking customers against Authorised Push Payment (APP) scams; the type of deception that cost UK consumers £456m in 2019, of which only £83m was recovered  . Financial providers returned about a quarter of losses – £116 million – to victims.  (source: Finextra)

Confirmation of Payee for PSPs
SurePay Confirmation of Payee provides a tried-and-tested solution that helps PSPs to deliver their customers with a Confirmation of Payee. This account check has been specifically designed for the purpose of confirming payee details. Our Dutch CoP solution, the IBAN-Name Check, is now successfully implemented by most banks in the Netherlands and in the UK already checks 25% of all online payments.

Confirmation of Payee for organisations
SurePay Confirmation of Payee is also available for organisations and helps to detect, prevent and limit  organization’s exposure to fraud and mistakes. Also it helps to make your business processes more efficient.

The matching algorithm behind SurePay Confirmation of Payee

SurePay Confirmation of Payee ‘s matching algorithm combines cutting-edge data science techniques with profound knowledge of transactions and payer’s behaviour to help prevent fraud and mistakes whilst facilitating Straight Through Processing.

  1. Features built-in matching logic to ensure accurate matching without any detriments to end-users of the service
  2. Unlike conventional name matching algorithms, the SurePay algorithm is specifically designed for Confirmation of Payee from scratch.
  3. Capable and able to interpret both structured and unstructured PSP data and input.

Proven solution for Confirmation of Payee

SurePay succesfully operates its solutions since 2017 for most banks in the Netherlands, and beyond. The Dutch IBAN-Name Check solution has proven to be highly successful in addressing  fraudulent and misdirected payments at a pre-payment stage. The SurePay name-matching functionality operates in line with all applicable industry guidelines, requirements and specifications for Confirmation of Payee.

The SurePay Confirmation of Payee service is subject to strict data security policies and complies with the regulatory guidelines for safe processing of personal data within the EU and UK. Moreover, SurePay Confirmation of Payee has been exposed to extensive penetration testing based on the OWASP Application Security Verification Standard.




  • Software-as-a-Service Solution

    SurePay Confirmation of Payee is a solution that operates in a secure cloud, which easily integrates with PSP systems and does not require deployment of physical devices in PSP datacentres.

  • High Performance & Availability

    As the SurePay Confirmation of Payee solution is cloud based, responses are usually returned within 100 milliseconds and high availability (proven: 99.97%) is guaranteed.

  • Secure by Design

    Any data that is processed through the SurePay solution is encrypted and transport is secured with TLS. Only the name matching algorithm can access data through a protected sandbox, all within the European Union. Furthermore, SurePay fully operates in accordance with the ISO27001 principles and delivers an audited ISAE 3402 type II report to demonstrate its compliance.

Other Features of the SurePay Confirmation of Payee

  • Real-time Management Information
    Real-time and comprehensive insights in incoming CoP requests, outgoing CoP responses, the number of responses split by response type and much more, available through easy-to-use tooling or scheduled reports delivered right in your inbox.
  • Data Whitelisting Functionality
    Data management functionality specifically designed for account groups with vulnerable characteristics or accounts with complex (company) account structures, which safeguard privacy and ensure best matching ability.
  • Data Analysis and Query Functionality
    Dedicated tooling with configurable access control restrictions to enable and support own staff with queries and analysis of historic matching responses. Predefined filters allow for lookup on the basis of account, matching response, timestamp, or any other unique identifier.

Frequently asked questions

Confirmation of Payee (UK)

  • How does SurePay support PSPs in Confirmation of Payee?

    SurePay delivers a variety of components that support PSPs seeking to implement Confirmation of Payee through its SurePay CoP solution. The solution comprises the following key components:

    • Name matching functionality
    • Data management options
    • Open Banking Connectivity

    The above components are complementary to one another, but may also be used separately depending on PSP’s needs and requirements.

  • How does the name matching functionality work?

    The name matching functionality that SurePay delivers as part of the solution for Confirmation of Payee is fully compliant with industry specifications and guidelines. The algorithm leverages existing know-how and expertise from the IBAN-Name Check solution SurePay operates in the Netherlands, fully tailored to the UK market.

    The name matching functionality features built-in matching logic, which ensures highly accurate matching without introducing any detriments to end users of the service. Moreover, as a result of integrated matching rules, the functionality is able to interpret both structures and unstructured PSP data and matching input.

  • Does SurePay’s Confirmation of Payee solution comply with industry regulations and specifications?

    SurePay’s Confirmation of Payee solution provides a tried-and-tested functionality for PSPs in the UK seeking to implement and comply with Confirmation of Payee. The functionality fully complies with the relevant specifications and regulation as set out by the industry. In the design of our CoP solution, required matching rules and purpose of Confirmation of Payee has been taken into account.

    Furthermore, the functionality supports ISO20022-based information exchange between PSPs & SurePay, as well as from the SurePay functionality onward to the Open Banking Environment.


  • How does SurePay Confirmation of Payee support in Data Management?

    Throughout our experience as the leading Confirmation of Payee Solution provider in the Netherlands, it’s become apparent that having a name matching algorithm in place alone does not sufficiently support PSPs seeking to deliver Confirmation of Payee. Another key component is managing PSP data and having the right data available for matching purposes.

    SurePay’s data management solutions do provide a variety of ways through which PSP may provision their data to the name matching functionality, whilst taking into account both the needs of Large Scale PSPs and smaller scale PSPs. Please request a brochure here for more information on the data management options SurePay has available for you.

  • How does SurePay Confirmation of Payee integrate with PSP systems?

    All of SurePay’s Confirmation of Payee solutions are API-based and can be easily integrated with existing PSP infrastructure. The solution is a Software-as-a-Service solution and therefore does not require the deployment or installation of any physical devices in PSP datacentres.

    Integrating the SurePay CoP solution is relatively simple due to its API-based nature. Depending on your wishes, you may prefer to include some of SurePay’s data management options specifically designed for Confirmation of Payee.