Change Log
Confirmation of Payee (CoP)
Applies to: New CoP API (Australia)
What's Changed: The Confirmation of Payee (CoP) service enables merchants to validate a recipient's account name, BSB, and account number before initiating a payment. This includes real-time verification via API and will support a bulk verification in future. The new product checks the provided details against the NPP's CoP service and returns a match result that merchants can use to confirm accuracy or flag potential fraud.
Why This Matters: Incorrect or fraudulent payee details can lead to misdirected payments, financial loss, and reputational harm. By confirming whether the recipient's name aligns with the registered account holder, CoP helps prevent payment errors and reduce fraud through a regulated, NPP-backed validation service. The first merchant using the service will be Plan Partners.