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EBA Clearing confirms the operability of its beneficiary verification function

The provider of pan-European payment infrastructure solutions EBA Clearing has confirmed the operability of its verification function of the beneficiary, ahead of the implementation of the European rules on instant payments Verification of Payee (VOP), scheduled for 9 October. The latter will require banks to check the reconciliation between the beneficiary's name and its IBAN before making a transfer.

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