IPR send mandate and mandatory Verification of Payee take effect in the euro area

From 9 October 2025, euro-area PSPs must also be able to send SEPA instant credit transfers (not just receive them), and all PSPs must offer a free Verification of Payee (VoP) check confirming the payee name matches the IBAN before an instant transfer is executed. The VoP obligation applies even to non-bank EMIs/PISPs from the same date.

Full send-and-receive instant capability plus VoP makes real-time euro payments the default and adds a confirmation-of-payee layer that reduces misdirection and APP fraud — strengthening the trust foundation A2A wallets and pay-by-bank schemes need to scale.

VoP implementation quality and false-match friction, instant-payment volume growth post-mandate, and how schemes like Wero leverage VoP at checkout.

• osborneclarke.com
• European Central Bank