Instant Payments Regulation

On the other hand, security in payment transactions and protection for the payer are increased by means of an IBAN name comparison check of the payment recipient — Verification of Payee, or VOP for short.

This name matching must be performed mandatorily before the release of orders for both SEPA transfers and real-time transfers with few exceptions.

The regulation has a direct impact on the EBICS technology. Starting October 5, 2025, the recipient verification (VOP) will be introduced in Germany for credit transfers and real-time transfers.

The payer must be informed of the result of the check. The possible results are:

RCVC

(Full) Match: The IBAN and name of the payment recipient match.

RVMC

Close Match: The name provided by the sender only partially matches the data stored at the receiving bank for the relevant IBAN. In this case, the actually stored (correct) name will also be returned.

RVNM

No Match: The name provided by the sender does not match the data stored at the receiving bank for the relevant IBAN.

RVNA

Not possible or applicable: For various reasons, no test result can be provided.

The payment is then accepted or rejected by the payer accordingly.

For Germany, the procedure was defined by The German Banking Industry Committee in the Implementation of the Instant Payments Regulation for the EBICS procedure (Umsetzung der Instant Payments Regulierung im EBICS-Verfahren, not available in English). Accordingly, the result of the verification is displayed to the payer via the Electronic Distributed Signature (EDS), where it can be accepted or rejected.

The new version of the Banking Server now provides all the necessary processing and settings to configure a VOP implementation according to the operator's choice.

These include, in particular, the new order types (VPZ, CTV, CIV, VCS, VIS, VCX, VIX), the export of payment files in pain.001 format, the import of the results of the VOP check, and configuration options for the information text for the payer.

Various settings can be configured before the effective date. For configurations that may only become active on the effective date itself, there is a function for activating settings on a specified date.

Regardless, operators of the Banking Server need a VOP implementation from a suitable provider in order to configure it for processing. Various providers offer products for this purpose.

Detailed information on configuring VOP can be found in the administration manual and in the online help of the Banking Server.

The new version of the BL Banking Server is now available to customers. The Support of Business-Logics will be happy to help with any questions you may have.

As usual, the update is free of charge for all maintenance customers.