Confirmation of Payee (UK)
Confirmation of Payee (CoP) applies to GBP outbound and inbound transfers via Faster Payments.
Outgoing transfers
For each outgoing Faster Payments transfer, a CoP request must be performed before executing the transaction.
The transfer must not proceed until the CoP result is presented to the end user and confirmed
If recipient details are edited, a new CoP request must be made
Incoming transfers
For inbound Faster Payments transfers, Paynetics responds to CoP requests on the partner's behalf.
Partners are responsible for keeping customer details (name, account number, account type) up to date to ensure accurate responses.
CoP API
The CoP endpoint is used to perform CoP requests. Each request generates a unique token that identifies the CoP check.
Store this token for reconciliation and future functionality.