April 2022

Public consultation - Confirmation of Payee Scheme 2022

This public consultation performed by the NPC is regarding the NPC Confirmation of Payee Scheme Rulebook. The Public consultation period will be open between April 25 and August 15, 2022.

Documents related to the consultation

NPC050-01 2022 NPC Confirmation of Payee Rulebook version 0.9
NPC Consultation Comments Template

This Confirmation of Payee Rulebook provides a set of rules, practices and standards to be followed for Confirmation of Payee services.

The aim of the Confirmation of Payee Rulebook is to enable confirmation of a payee’s (payment recipient) payment details to before making a payment. The rulebook will enable the payer to confirm the correctness of the payee’s account number, payee’s account number in combination with the payee’s name or payee’s account number in combination with the payee’s identification number. This will contribute to a higher quality and more efficient payment process. It can prevent some part of both misdirected and fraudulent payments as well as reduce the number of rejected and returned payments. In the end, this will contribute to a better customer experience since the payer will be able to ensure the correctness of the payee’s payment details prior to making the payment.

Based on the Scheme, participants will be able to offer new and innovative services. The Scheme will be able to ensure interoperability and move towards open standards which are expected to improve financial integration and act as a catalyst for a richer set of products and services.

Content of the Public Consultation
The NPC Confirmation of Payee Scheme are a set of rules, practices and standards to achieve interoperability for the provision and operation of requests and responses to confirm payee payment details.

An NPC Scheme consists of a Rulebook which focuses on the business process layer and appropriate elements of the logical layer and Implementation Guidelines detailing messaging formats.

The draft implementation guidelines can be received upon request to the NPC, info@npcouncil.org.

Time period of the Public Consultation
The Public Consultation period is between April 25 to August 15, 2022.

Process for the Public Consultation
All stakeholders are invited to respond to the public consultation. When commenting on the consultation, the recipient is requested to use the template found above.

All responses should be sent to info@npcouncil.org.

Next steps
After the public consultation period is completed, the NPC will analyse and review all comments in an open dialogue with identified stakeholders. Decided changes will thereafter be amended to the rulebook. There will then be a decision for the final versions of the NPC Confirmation of Payee Scheme (versions 1.0).

The scheme is expected to be approved by NPC and final versions 1.0 to be published in November 2022. The scheme is planned to enter into effect at the same date in November 2022. The effect date is the first possible date for services based on the new scheme to start. The exact dates from when services will be introduced according to the new scheme will be dependent on the different markets’ implementation and migration planning.