Denmark becomes the first non-Euro country to implement a nationwide VOP solution
UTRECHT, The Netherlands and COPENHAGEN, Denmark, April 24, 2025 (GLOBE NEWSWIRE) -- Finance Denmark, the association representing banks, mortgage institutions and financial firms in Denmark, has selected SurePay to provide a national Verification Of Payee (VOP) service. With this step, Denmark strengthens its position in the fight against payment fraud and prepares its financial sector for compliance with the upcoming EU Instant Payments Regulation.
Secure and reliable payments across Denmark and Europe
Verification Of Payee (VOP) is becoming mandatory across Europe under the new Instant Payments Regulation, which takes effect in October 2025. While non-Euro countries like Denmark are required to comply by 2027, Denmark has chosen to move ahead of schedule. The service checks whether the recipient's name matches the provided IBAN, helping to prevent fraud and payment errors. SurePay was an early mover in the Netherlands, introducing the IBAN-Name Check in 2017.
SurePay was selected based on its extensive European experience, high match accuracy and advanced fraud prevention capabilities. With its scalable platform already used by over 200 financial institutions, SurePay enables banks to verify account holders in real time-reducing impersonation fraud and misdirected payments. Thanks to this cooperation, Danish banks can benefit from additional services such as risk detection, international integration through Swift and verification solutions for businesses and government.
"We are proud to support Finance Denmark and its members in implementing a best-in-class Verification Of Payee solution," said David-Jan Janse, CEO of SurePay. "This partnership empowers Danish banks to proactively fight fraud, comply with upcoming EU regulation, and connect to a broader network of over 200 financial institutions already using our solution across Europe."
"In choosing SurePay, we focused on their deep expertise and insight into applying VOP across various payment scenarios - from individuals to small and large businesses," said Michael Busk-Jepsen, Executive Director at Finance Denmark. "Their experience and capabilities stood out clearly during the selection process."
SurePay is currently rolling out VOP in Belgium. Denmark now becomes the first Nordic country to implement VOP at scale-demonstrating how European countries are taking proactive, coordinated steps to secure instant payments and reduce fraud across borders.
About SurePay
SurePay is the European market leader in Verification Of Payee
Contact
Ramon Verweij
Vice President of Marketing
ramon@surepay.eu
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