European Payments Council Introduces Verification of Payee Regulation for SEPA Payments.

Starting October 5th, 2025, a new regulation called Verification of Payee (VoP) will take effect in the EURO zone, enhancing payment security by verifying that the payee's name matches the account number provided before a payment is executed. SAP Cloud ERP users will need to consider the implementation and guidelines of VoP, which may vary by bank and could require either an "opt-in" or "opt-out" approach. The connection to a house bank can be established through SAP Multi-Bank Connectivity, but the different channels provided (EBICS, SWIFT, Host to host, and Bank APIs) solve VoP in different ways, making it challenging for SAP to implement a one-size-fits-all solution.