Verification of Payee in Greece
How Greek banks, PSPs and businesses use Verification of Payee — the IBAN name check — to meet the EU Instant Payments Regulation.
What Verification of Payee means for the Greek market
Greece has rapidly modernised its payments in recent years, with strong growth in card and digital transfers. As a euro-area country, Greek payment service providers are in the first wave of the Verification of Payee obligation.
Verification of Payee confirms that the name a payer enters matches the IBAN before a transfer is sent, returning a clear match, close match, no match or not-possible result in real time.
For Greek PSPs this is both a compliance requirement and a strong defence against the misdirected payments and authorised push payment fraud that have grown alongside instant payments.
Verification of Payee in Greece at a glance
The essentials for the Greek market.
Euro-area country
Greece uses the euro, so its PSPs are in the first wave of the VoP obligation.
Modernising fast
Rapid growth in digital payments makes a clear name check timely.
Fraud focus
VoP targets misdirected payments and APP fraud that rise with instant payments.
Key Verification of Payee dates
How the obligation applies to euro-area PSPs like those in Greece.
- Jan 2025
Instant payments receiving
Euro-area PSPs must be able to receive SEPA instant credit transfers.
- 9 Oct 2025
VoP & instant sending
Euro-area PSPs must offer Verification of Payee and send instant payments.
- 9 Jul 2027
Non-euro extension
Non-euro-area EU PSPs join the obligation, widening coverage further.
Value across the Greek payment chain
The same check, value for every party.
Banks & PSPs
Meet the regulation and join the SEPA VoP scheme through one integration.
Businesses
Verify supplier and payroll IBANs before paying, cutting invoice-redirection fraud.
Payers
A clear confirmation before money leaves — reassurance on every transfer.
Verification of Payee in Greece
Common questions for the Greek market.
Yes. As a euro-area country, Greek PSPs must offer Verification of Payee under the EU Instant Payments Regulation, with the key date of 9 October 2025.
As digital and instant payments grow quickly, a clear name check helps protect new users from misdirected payments and fraud.
It applies to payment service providers offering euro credit transfers, which covers banks and PSPs across the Greek market.
By connecting to the SEPA VoP scheme through a provider like RoxPay, a Greek PSP can go live with a single integration instead of building scheme adherence alone.
Add Verification of Payee in Greece
Talk to RoxPay about going live with VoP for the Greek market through one integration.