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IFX Payments has announced the adoption of Form3’s Verification of Payee (VoP) solution to strengthen its defenses against payment fraud and prepare for the upcoming Instant Payments Regulation mandate. The integration will enable IFX Payments to verify SEPA account details before processing transactions, aligning with the VoP scheme set to go live across the EU in October 2025.
The VoP initiative, introduced by the European Payments Council, requires payment service providers to confirm that a payee’s name matches the associated IBAN on file before executing a payment. This measure is intended to reduce fraud and misdirected payments by ensuring funds are transferred to the correct account holder.
“The third Form3 product that IFX Payments has signed up to”
Form3’s VoP service, delivered through a single API, allows financial institutions to integrate verification checks into their payment workflows without disrupting their existing systems. The solution supports SEPA Credit Transfer and SEPA Instant Payments and is designed to meet compliance obligations under both the Instant Payments Regulation (IPR) and the forthcoming PSD3 framework.
Rosie McConnell, Product Director at IFX Payments, commented, “We chose Form3’s VoP solution because of its seamless fit with our existing compliance infrastructure. Having a dedicated onboarding team has been invaluable, allowing us to continue focusing on what matters most: delivering a secure, reliable, and fully compliant payment experience for our customers. We’re happy to be building on our partnership with Form3.”
Form3 said the VoP solution offers rolling scheme updates to ensure ongoing regulatory alignment without service interruptions. This product marks the third integration of Form3 technology by IFX Payments, following earlier implementations of Confirmation of Payee (CoP) and SEPA Credit Transfer services.
Mike Walters, CEO of Form3, stated, “We’re proud to be working with IFX Payments, a forward-thinking global organisation at the forefront of FX and payments. Their decision to adopt our VoP solution marks this as the third Form3 product that IFX Payments has signed up to – highlighting the strength of our ongoing partnership and their commitment to growth.”
The partnership underscores growing momentum across the European payments sector to prepare for VoP compliance ahead of the October 2025 deadline. By implementing pre-payment verification checks, IFX Payments aims to provide its customers with enhanced protection against authorised push payment (APP) fraud and reduce errors stemming from incorrect beneficiary details.
IFX Payments, which positions itself as a service-led alternative banking partner, continues to expand its product capabilities in line with regulatory expectations and market demands. The company said its integration with Form3 helps maintain operational agility while reinforcing customer trust in secure and compliant transaction processes.
