The European Payments Council has opened the adherence process for its Verification Of Payee (VOP) scheme. Current and future SEPA Credit Transfer and SEPA Instant Credit Transfer scheme participants that are affected by the amended SEPA Regulation provisions on verification of payee must adhere to the VOP scheme and register into and fund the EPC Directory Service (EDS). Adherence comprises two steps: submission and approval of adherence documentation, followed by EDS onboarding and updates via self-registration in the EDS, which will be available in Q3 2025. To support completion before the 5 October 2025 deadline, the EPC has set out three adherence waves and urged participants to prepare early to avoid capacity bottlenecks.
European Payments Council 2025-03-24
European Payments Council opens adherence process for Verification of Payee scheme ahead of 5 October 2025 deadline
The European Payments Council has initiated the adherence process for its Verification Of Payee (VOP) scheme, requiring SEPA Credit Transfer and SEPA Instant Credit Transfer participants to comply with amended SEPA Regulation provisions. Participants must submit adherence documentation and onboard to the EPC Directory Service (EDS) by Q3 2025. The EPC has outlined three adherence waves to facilitate timely completion.