Following Pay.UK’s confirmation that the reach of the Confirmation of Payee Service (CoP) will be extended, a group of the UK’s major banks has written to the PSR to provide a public commitment to deliver the necessary CoP role profile by end-2021 (Lloyds Banking Group, Bank of Scotland, Barclays, HSBC, NatWest, Nationwide and Santander).
Banks back Confirmation of Payee extension
Shot of a barista taking a smartphone payment from a customer at a cafe