EBA Clearing has announced that the testing for its Fraud Pattern Anomaly Detection (FPAD) Verification of Payee (VoP) solution has confirmed its readiness for scaling.
End-to-end testing by European payment service providers (PSPs), STEP2, and RT1 users assessed the solution’s capability to integrate into the ecosystem, enabling businesses to perform VoP checks in compliance with Instant Payments Regulation (IPR) guidelines. The assessment verified that the solution will be ready to scale securely starting from October 9.
In December 2024, EBA Clearing announced a SEPA-wide VoP service.
Erwin Kulk, head of service development and management at EBA Clearing, remarked, “FPAD is a powerful toolset that provides PSPs with rich insights based on fraud patterns and anomalies that can be identified at the network level. Beyond VoP, FPAD’s extensive range of fraud indicators enhances PSPs’ capabilities to combat fraud, ensuring a smoother and safer customer experience.”
The testing phase has seen significant interest in the FPAD VoP solution, with over 55 RT1 and STEP2 participants from 14 countries preparing for adoption in October.
Olivier Jolyon, head of new initiatives at EBA Clearing, noted, “Testing VoP performance with our user community has offered valuable insights, allowing for final adjustments ahead of the launch. The comprehensive roll-out of VoP services across the eurozone is a complex task, and the volume testing we’ve conducted has helped users tackle many PSP-level challenges. We appreciate the contributions of all participants in achieving this progress.”