iPiD Issues Guidelines for Navigating European Payment Security Regulations

iPiD Issues Guidelines for Navigating European Payment Security Regulations

Time Stamp: April 4, 2024 9:06 AM
iPiD Issues Guidelines for Navigating European Payment Security Regulations PlatoBlockchain Data Intelligence. Vertical Search. Ai.

iPiD, a payment validation solutions
provider, has published guidelines and strategies that payment service
providers (PSPs) can adopt to comply with the European Verification of Payee (VoP)
mandate by October 2025. The white paper titled “Verification of Payee: The
Race to Compliance” is authored by the firm’s CEO, Damien Dugauquier. The VoP mandate marks a
significant shift in payment security standards.

According to the press release, iPiD’s white paper
analyzes the technological, operational, and strategic adjustments required for
PSPs to meet compliance standards. It highlights the importance of
interoperability and secure API integration across European payment channels. This regulation aims to
mitigate misdirected payments and shift liability from payers to PSPs.

Dugauquier mentioned:
“With the Verification of Payee mandate, we stand at a critical juncture
in enhancing payment security and integrity across Europe.”

“Our whitepaper not only guides PSPs through the
compliance journey but also illuminates the path towards leveraging these
changes to develop premium payment security solutions. It’s a testament to the
collaborative effort of leading industry experts to fortify the payment
ecosystem against fraud.”

Notable contributors include Christian Sarafidis from
Microsoft, Jeroen Holscher of Capgemini, and Eran Vitkon from Finastra, among
others. The contributors offered their perspectives on digital
transformation, fraud prevention, and the role of innovative solutions in
bolstering payment security.

Insights from Industry Leaders

With the looming VoP mandate, Dugauquier emphasized
the importance of enhancing payment security across Europe. The white paper
outlined steps for compliance within the next six months. Among the recommended strategies is the collaboration
with specialist providers to streamline the implementation of the regulations.

iPiD is a fintech startup established in 2021 by a
team with a background in major payments and technology firms, such as SWIFT and
Thomson Reuters.

According to the company’s website, the team spans
India, Belgium, the Americas, the UAE, Malaysia, the Netherlands, South Africa, Spain, Vietnam, and Singapore. iPiD aims to enhance cross-border payments through collaboration with financial service providers like banks, payment
systems, and fintech companies.

iPiD, a payment validation solutions
provider, has published guidelines and strategies that payment service
providers (PSPs) can adopt to comply with the European Verification of Payee (VoP)
mandate by October 2025. The white paper titled “Verification of Payee: The
Race to Compliance” is authored by the firm’s CEO, Damien Dugauquier. The VoP mandate marks a
significant shift in payment security standards.

According to the press release, iPiD’s white paper
analyzes the technological, operational, and strategic adjustments required for
PSPs to meet compliance standards. It highlights the importance of
interoperability and secure API integration across European payment channels. This regulation aims to
mitigate misdirected payments and shift liability from payers to PSPs.

Dugauquier mentioned:
“With the Verification of Payee mandate, we stand at a critical juncture
in enhancing payment security and integrity across Europe.”

“Our whitepaper not only guides PSPs through the
compliance journey but also illuminates the path towards leveraging these
changes to develop premium payment security solutions. It’s a testament to the
collaborative effort of leading industry experts to fortify the payment
ecosystem against fraud.”

Notable contributors include Christian Sarafidis from
Microsoft, Jeroen Holscher of Capgemini, and Eran Vitkon from Finastra, among
others. The contributors offered their perspectives on digital
transformation, fraud prevention, and the role of innovative solutions in
bolstering payment security.

Insights from Industry Leaders

With the looming VoP mandate, Dugauquier emphasized
the importance of enhancing payment security across Europe. The white paper
outlined steps for compliance within the next six months. Among the recommended strategies is the collaboration
with specialist providers to streamline the implementation of the regulations.

iPiD is a fintech startup established in 2021 by a
team with a background in major payments and technology firms, such as SWIFT and
Thomson Reuters.

According to the company’s website, the team spans
India, Belgium, the Americas, the UAE, Malaysia, the Netherlands, South Africa, Spain, Vietnam, and Singapore. iPiD aims to enhance cross-border payments through collaboration with financial service providers like banks, payment
systems, and fintech companies.

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