Crowdfunding and investment-based platforms handle a high volume of transfers: collecting from backers, paying out to project owners, and refunding when campaigns fall through. Each payout to a wrong account damages trust and creates costly disputes.
Trust is the platform's product
Backers commit money to people and projects they often have never met. If a payout or refund lands in the wrong account, confidence in the whole platform erodes. Verification of Payee adds a name check that protects that confidence.
Verify both directions
Check the project owner's payout account and the backer's refund account. Both are points where a name-vs-IBAN mismatch should pause the payment.
Where VoP fits
- 1 Verify a project owner's payout IBAN before releasing funds.
- 2 Verify backer accounts before issuing refunds at scale.
- 3 Use bulk verification for large refund runs when a campaign is cancelled.
- 4 Log outcomes for transparency and dispute resolution.
Payouts that keep trust intact
RoxPay's Verification of Payee supports both single and bulk checks, so crowdfunding platforms can verify a one-off payout or an entire refund batch with the same API.