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Confirmation of Payee - Out


An API module to accelerate your ability to onboard with and send compliant Confirmation of Payee (CoP) requests to third parties: CoP Out.

‘CoP API - Out’ enables your organisation to adopt Pay.UK standards to send CoP requests to third parties via a dedicated and secure API channel and then process their response. The offering is unique in its ability to deliver an end-to-end solution flexible enough to align with different IT strategies. It combines a set of balanced measures of business readiness, technical delivery and support services which are key to success across all implementation and journey stages.

Solution Overview


Comprising several technical components, each designed to support the underpinning capabilities to register with and send compliant CoP requests to third parties within the Open Banking ecosystem (OBIE).

Confirmation of Payee Service is a component responsible for integrating with your customer’s payment journey via a simple and secure private API. Once connectivity is established and a request received our TPP Framework Module goes to work to identify the applicable ASPSP and send a secure CoP request to them. The matching decision is then passed back for you to display the relevant message or warning back to the customer (the payer) as prescribed by Pay.UK.


Our TPP Framework Module uses your regulated Third Party Provider (TPP) licence within Open Banking to onboard with multiple UK banks (ASPSPs) and consume information securely. Supporting the Financial API Security Profile and Dynamic Client Registration (DCR) as defined by Open Banking the module will dynamically register and obtain the secure tokens required to consume an ASPSP’s Confirmation of Payee API. In addition, we offer manual registration where required. This module is central to any CoP Out request as it provides the gateway to establishing which ASPSP to send the request to, based on the account number and sort code provided by your customer during their payment initiation journey. The module then returns via the Confirmation of Payee Service the ASPSP response for you to process.


Service Dashboard provides access to your API service metrics and other indicators to support the monitoring of your CoP responses. As a CoP Out participant you are required to submit certain Management Information to Pay.UK. The Service Dashboard provides the level of data required to achieve this.

Key Benefits


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Reduce Fraud

CoP introduces a significant hurdle for fraudsters and gives effective warning about the risks of sending payments to an account where the name does not match.

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A Third Party Provider (TPP)

Our TPP Framework Module provides full TPP capability enabling you to dynamically register with ASPSPs for CoP and initiate unlimited requests to those ASPSPs and manage their responses.

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Open Banking Compliant

If you’re looking at using Open Banking to drive innovation within your organisation, this module can also be enabled to send Account Information (AIS) and Payment Initiation (PIS) requests.

Differentiators


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Time to Market

API Integration in one simple step to reduce timeframes from months to weeks.

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Unlimited Transactions

We don’t charge based on transactions or volumes. We keep things simple for everyone
by allowing your business to scale while keeping the cost of our solutions fixed.

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Flexibility

Be a Third Party Provider or use our licence.

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