SurePay is live in Phase 2

Confirmation of Payee (CoP) was launched in the UK in 2020, offering a reliable and immediate name checking service for all domestic payments.  

It was initially available to all those participants registered as a full member of Open Banking for PSD2 purposes. However, from July 2021, the eligibility criteria is extended to include all UK account holding PSPs.

To prepare for this, SurePay has worked proactively with Pay.UK and the wider payments industry. As a result, we are delighted to confirm our CoP service is already fully able to support all eligible UK PSPs.  

The extended CoP eligibility

In addition to those existing participants registered with Open Banking, the CoP eligibility criteria include:

  • Those FI's unable or unwilling to meet the full Open Banking PSD2 requirements
  • FI's regulated by non PSD2 NCAs, such as those based in the Crown Dependencies
  • Accounts addressable by secondary reference data
  • PSP's that do not have their own code, such as Collection accounts

These participants will register their interest in CoP via Pay.UK, who will then onboard them onto the Open Banking Directory.

Connecting to CoP through the Open Banking Directory

       Pay.UK expanded the Open Banking Directory to enable those new participants to join who only want to use CoP. 

These details will be held  separately to the full open banking details, and will include:

  • The selected CoP role (e.g., Requestor / Responder)
  • Key PSP details (e.g.,  without their own sort code; or accounts addressable by secondary reference data 

SurePay’s CoP Auth Server complies fully with the new technical standards and is able to seamlessly connect with the Open Banking Directory.

 All eligible PSPs can now easily sign up to SurePay’s CoP service.

Interested in finding out more about our CoP solution?

Click here to get in touch

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