SurePay ended up being started in 2016 and it has since been giving the Confirmation of Payee (policeman) provider. Our CoP solution is a cutting-edge, real-time name-checking remedy that offers UK payers greater assurance that their particular money will the proposed individual. By confirming a payeea€™s identity fits the name on the desired recipienta€™s bank account, CoP helps in avoiding payees from transferring cash into the completely wrong people or companies, whether by intention, through fees scam, or unintentionally, through misdirected payments.
These days, we execute over 350,000 name-checks each and every day for our UK companion consumers, working with Pay.UK to continuously enhance all of our verification of Payee remedy. Our very own proven API option enables fees providers (PSPs) to supply clients with real-time checks and reviews in the entered beneficiary details when making an online money exchange a€“ a legitimate verification of Payee.
Exactly how do you produce the idea for any company?
The key purpose behind SurePay is easy: to eliminate misdirected payments either considering fraudulence, typically Authorised drive repayment (APP) fraud, or simply the simple penetrating of erroneous info, named a€?fat finger syndromea€™. Authorised Push cost (APP) cons are priced at UK people A?479m in 2020, per UK loans, creating real-time opinions for clients in the correctness and accuracy of entered beneficiary information has never come much more critical. After four many years enhancing our algorithm, tweaking, and enhancing the provider, we have now check always significantly more than 30percent of most web repayments within the UK, dramatically enhancing the ease of use and safety of online money for buyers, and companies.
SurePay going with recommended which was motivated to build through Rabobank. We have now end up being the inventor, president as well as the markets commander in CoP in britain while the Benelux.