What's Happening?
AccessPay has announced a partnership with PayPoint to incorporate PayPoint's Confirmation of Payee (CoP) capability into its payments automation platform. This integration aims to enhance fraud prevention and error reduction for corporate finance teams.
The CoP, also known as Account Name Verification (ANV), checks the accuracy of payee details before funds are transferred, ensuring that the account name matches the intended recipient. This control can be applied during payee onboarding, payment file creation, or both, to minimize the risk of misdirected payments and fraud exposure. The integration is part of a broader industry trend towards embedding preventative controls directly into payment infrastructure, rather than relying on post-transaction monitoring.
Why It's Important?
The integration of PayPoint's CoP into AccessPay's platform is significant as it addresses the growing concern over authorised push payment (APP) fraud, which saw losses of £258 million in the first half of 2025. By providing an additional layer of control, the partnership aims to enhance operational resilience for treasury and finance leaders, particularly those managing complex bank connectivity environments. This move is crucial for corporate finance teams seeking to improve security and efficiency in payment operations. The collaboration also highlights AccessPay's strategy to expand its ecosystem of third-party services, positioning its platform as a central component in the digital transformation of corporate finance operations.
What's Next?
The integration of CoP is expected to support high-volume corporate use cases such as payroll processing and supplier payment runs. With multiple integration options available, including APIs and bulk processing, organizations at various stages of digital maturity can incorporate account verification into their existing processes. This development may prompt other financial technology companies to adopt similar preventative measures, potentially leading to industry-wide improvements in payment security and efficiency. As the partnership progresses, it could influence how corporate finance teams approach digital transformation and operational resilience.
