CoP is an industry-wide, regulated banking initiative in the UK that provides payers with additional peace of mind that payments are being sent to the right person, which is now available for you to use via Bottomline. And the best bit is, if you’re already using the PTX platform, we can integrate it into your business application in just a few days to get you up and running. Our service will:
- Confirm the existence of an account
- Verify the account holder's name directly with the owning bank
- Act as a single service for consumer and business accounts
It's perfect for account opening, refunds, invoice payments, payroll, and loan applications.
Get your verification journey started today with an initial chat from one of our team.
*PSR – PS22/3 Extending Confirmation of Payee coverage. Coverage will rise to 99% by October 2023.
Why does this service benefit me?
HOW CAN OUR COP SERVICE HELP YOUR BUSINESS?
By adding this extra module to your existing PTX package, you'll access instant benefits when paying and collecting.
Operational cost savings
Minimise costs associated with manual checks
Improved straight-through processing
92% coverage on business and consumer accounts and growing
For both business and personal accounts
Easy to implement
Accessed via an API so can be easily integrated
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