Payer Name Verification

Payer Name Verification: Protect Your Payer’s data and Your Revenue

When collecting payments from your customers, data accuracy is critical. A single typo or fraudulent sign-up can lead to failed collections, costly administrative overheads, and unpaid invoices

To help you secure your Direct Debits and improve scheme compliance, we have introduced Payer Name Verification as part of our comprehensive Direct Debit bureau service.

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🛠 WHAT IS PAYER NAME VERIFICATION?

Payer Name Verification (PNV) is a security and validation check to ensure that the you’re your payer provides when you are setting up a Direct Debit matches the name registered on their bank account. It acts like “Confirmation of Payee” (which checks the name on a bank account when you are paying). Payer Name Verification works in reverse to verify the person paying you.

🔒 Why Use Payer Name Verification?

We review the full, end-to-end process. Typically this follows the customer journey from the moment they decide to buy a product, pay you for services, make a donation or sign up for a subscription. What influences the payment method they choose? What is Eliminates Setup Errors: Flags typos, mismatched names, and incorrect bank details before the first collection attempt.

Reduces Fraud Instantly: Identifies incorrect names at the point of customer onboarding.

Reduced Indemnity Claims: Minimises costly Direct Debit Guarantee challenges from customers claiming unauthorised setups.

Secures Cash Flow: Increases first-time collection success rates by ensuring every account is valid.

Accelerates Onboarding: Verifies customer data in seconds so you can start collecting without delay.

Improves Compliance Direct debit scheme rules require a KYC check hat verifies the payer’s bank details – this is a key tool to do that.

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🛠 How It Works

Capture Details: You collect bank account information and names from your customers as normal.

Instant Check: Our system cross-references the details against the official bank registry in real time.

Clear Results: The system confirms a match or highlights errors that need correcting.
Seamless Processing: We safely process your verified Direct Debit files for hassle-free collection.

Payer Name Verification