Banqup Group selects iPiD for verification of payee
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The partnership enhances Banqup's ability to protect businesses against invoice fraud while ensuring compliance with the growing wave of Verification of Payee (VoP) regulations across Europe and beyond.
At the heart of the collaboration is the integration of iPiD's Know Your Payee (KYP) technology into the Banqup platform, which is already known for combining e-invoicing and payments in a single, secure, and compliant environment. This move directly addresses one of the most common forms of business fraud—manipulated or spoofed payment instructions in digital invoices.
'At Banqup, we've built our platform to connect documents and payments in a way that's seamless, compliant, and secure,' said Arthur Paijens, responsible for Banqup SA, the payment institution part of Banqup Group. 'Partnering with iPiD allows us to take an even more proactive stance against fraud—verifying the payee before a payment is made and giving our users peace of mind.'
The solution is powered by the iPiD Node, a future-proof service that validates payee account information in real time. By doing so, it ensures that payments go to the intended recipient, reducing the risk of misdirected funds and aligning with evolving VoP legislation across markets.
Damien Dugauquier, Co-founder and CEO at iPiD, added: 'Our mission is to bring global KYP capabilities to businesses of all sizes. Working with Banqup Group enables us to deliver on that promise for Europe's SMEs, helping them protect their cash flow and transact with confidence.'
For Banqup users, the integration of iPiD's verification layer is seamless—enabling every payment to benefit from the additional protection without disrupting user experience. It's a powerful combination: document-driven processes, embedded payments, and intelligent payee verification.
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