Verification of Payee

Verification of Payee

Designed for real-time verification, our API adds a layer of trust to your payments, onboarding and compliance processes. Any company can instantly confirm that a name and IBAN belong together before the money leaves their account.

How It Works

Verification Process

1. Request: Your system calls the Digiteal VoP REST API with:

   • Payee's name OR an identifier (e.g., VAT number)

   • IBAN to verify

2. Routing: Digiteal routes the request to the relevant financial institution via the Routing & Verification Mechanism (RVM)

3. Verification: The IBAN-issuing financial institution performs the verification

4. Response: You receive one of four possible results:

   • MATCH - Perfect match found

   • CLOSE_MATCH - Near match found (minor differences)

   • NO_MATCH - No match found

   • NO_AP - Verification not applicable/available

Each response includes:

• Timestamp for audit trails and a Unique identifier for tracking

• Bank name and BIC of the verifying institution

Website: https://www.digiteal.eu/verification-of-payee-api/

VoP Documentation: https://doc.digiteal.eu/docs/verification-of-payee-vop