安全简单的即时支付通往统一收款人确认解决方案的道路2024

Secure and Simple Instant Payments

Overview

Instant payments are gaining widespread popularity among consumers, banks, and scammers alike. According to Capgemini’s World Payments Report 2025, over 80 countries have implemented instant payment schemes, and by 2028, they are projected to represent 22% of the total non-cash transaction volume. The ubiquity of mobile banking has shifted consumer expectations towards instant experiences in financial transactions. Businesses also benefit from enhanced cash flow, reduced delays, and a competitive edge.

Financial institutions recognize the importance of instant settlements, which improve efficiency and align with regulatory mandates aimed at modernizing the financial ecosystem. However, the rapid growth of instant payments has created a lucrative environment for scammers. According to ACI Worldwide’s Scamscope Fraud Report, losses to Authorized Push Payment (APP) scams are expected to grow at a CAGR of 11% between 2022 and 2027, reaching a total of USD 6.8 billion. In the UK, regulators reported nearly USD 505 million in losses due to APP scams in 2022, with less than 60% of affected customers receiving reimbursement.

Key Data Points

• Growth in Instant Payments: Over 80 countries have implemented instant payment schemes.
• Projected Growth: By 2028, instant payments are expected to represent 22% of the total non-cash transaction volume.
• Consumer Demand: Mobile banking has fundamentally shifted consumer expectations towards instant experiences.
• Business Benefits: Enhanced cash flow, reduced delays, and a competitive edge.
• Regulatory Mandates: Aligning with regulatory requirements to modernize the financial ecosystem.
• Fraud Concerns: Losses from APP scams are projected to reach USD 6.8 billion by 2027.
• Customer Reimbursement: Less than 60% of affected customers receive reimbursement in the UK.

Confirmation of Payee (CoP)

To combat APP fraud, Confirmation of Payee (CoP) has become a critical verification mechanism. CoP ensures that payments are accurately directed to the intended recipient by cross-referencing the account details provided by the payer with those of the payee’s payment service provider. This system significantly mitigates the risk of funds being transferred to fraudulent accounts.

Global Initiatives

• United Kingdom: The UK’s Confirmation of Payee scheme, led by Pay.UK, enhances payment security by verifying account names to reduce misdirected payments. The Payment Systems Regulator (PSR) mandates that nearly 400 organizations join CoP by October 2024.
• Nordic Countries: The Nordic Payment Council’s Confirmation of Payee scheme aims to prevent misdirected and fraudulent payments while reducing payment rejections.
• Brazil: The Central Bank of Brazil’s Resolution 6, effective from November 2023, requires financial institutions to collect and share data on fraudulent transactions.
• European Payments Council: The EPC consulted on the Verification of Payee (VoP) scheme rulebook from February 20 to May 19, 2024, with feedback reviewed until August 2024. The final rulebook and API specifications are expected by September 2024, with the rulebook taking effect on October 5, 2025.
• Private Initiatives:
  • EBA Clearing: Launching pan-European Verification of Payee services in December 2024.
  • SWIFT: Boosting global payment security by verifying payee details before transactions.
  • J.P. Morgan: Launching the Confirm service for streamlined account validation.
  • iPiD: Providing real-time confirmation of payee names and bank account details.
  • Netherlands: Piloting the SurePay CoP service with Rabobank.
  • Spain: Offering CoP verification services through IberPay.
  • France: Delivering CoP verification through a secure messaging platform.
  • Australia: Launching the Scam-Safe Accord to enhance customer protection and combat scammers.

Conclusion

Confirmation of Payee has emerged as a crucial verification tool, with initiatives expanding globally. These efforts aim to enhance payment security and prevent fraud, ensuring that payments are accurately directed to the intended recipients.