EPC and StreamMind: a collaboration to deliver Verification Of Payee (VOP)
The European Payments Council (EPC) has announced a strategic collaboration with StreamMind to launch the API Reference Toolbox (ART) platform dedicated to the Verification of Payee (VoP) scheme. This innovative initiative aims to assist Payment Service Providers (PSPs) in meeting regulatory requirements for instant payments, ensuring pre-verification of IBAN names before payment authorization. This partnership marks a significant step in enhancing the security and reliability of instant payments across Europe.
Strategic collaboration for secure payment verification
The announcement of this collaboration between EPC and StreamMind follows a rigorous request for proposals (RFP) process and was approved by the EPC board in March 2025. StreamMind, renowned for its advanced software solutions, will be responsible for the delivery and operation of the ART platform along with associated support services. This platform will enable PSPs to comply with regulatory requirements for instant payments by providing a service for pre-verifying IBAN names before payers authorize a payment.
The VoP scheme, based on APIs, is expected to be implemented by thousands of PSPs across Europe by the regulatory deadline of October 2025. This initiative aims to enhance the security of financial transactions by offering pre-verification of IBAN names, thereby reducing the risks of fraud and payment errors. The collaboration between EPC and StreamMind promises to transform the way instant payments are verified and authorized, providing a robust and reliable solution for PSPs.
Benefits of the ART platform for PSPs
The API Reference Toolbox (ART) platform will offer PSPs several key benefits:
- Regulatory compliance: The ART platform helps PSPs comply with regulatory requirements for instant payments by ensuring pre-verification of IBAN names before payment authorization.
- Fraud risk reduction: By offering pre-verification of IBAN names, the ART platform helps reduce the risks of fraud and payment errors, enhancing the security of financial transactions.
- Operational efficiency: The ART platform allows PSPs to streamline their payment verification processes, improving operational efficiency and reducing costs associated with managing financial transactions.
StreamMind: a leader in payment verification solutions
StreamMind, founded in May 2008 in Paris, is a high-tech company specializing in system and network software publishing. Since its inception, the company has maintained steady growth and established a strong presence in the international market. With a dedicated team of experts, StreamMind develops tailored solutions to meet the specific needs of each sector, from finance to cybersecurity, e-commerce, and computer networks.
StreamMind's technologies are designed to operate uninterrupted in critical environments, with advanced security measures to protect data and transactions. The collaboration with EPC for the ART platform demonstrates StreamMind's commitment to providing robust and reliable solutions, ready to meet the challenges of tomorrow.
Learn More
For more details on this collaboration and the ART platform, we invite you to read the full article on the EPC website:
Conclusion
The collaboration between the European Payments Council (EPC) and StreamMind for the API Reference Toolbox (ART) platform represents a major advancement in securing instant payments across Europe. By offering pre-verification of IBAN names, this initiative helps reduce the risks of fraud and payment errors, enhancing the security of financial transactions. With a dedicated team of experts, StreamMind continues to innovate and provide robust and universal solutions, ready to meet the challenges of tomorrow.
Don't miss the opportunity to learn more about this strategic partnership and the benefits of the ART platform for PSPs. For more information, visit the links below and stay informed about the latest innovations in payment verification.