Verification of Payee : name-matching functionality
Sederström, Christian (2025)
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2025102326337
https://urn.fi/URN:NBN:fi:amk-2025102326337
Tiivistelmä
This work explores the implementation of name-matching functionality for a Responding Payment Service Provider within the European Payments Council’s Verification of Payee (VOP) scheme, which becomes mandatory within SEPA in October 2025.
The purpose of VOP is to reduce misdirected payments by verifying that the intended recipient is in fact the account holder.
The work was carried out on behalf of an external client and focuses on validating incoming VOP requests, normalizing name strings, identifying exact and close matches and generating API responses. At the core of the logic was the use and implementation of the Levenshtein Distance algorithm, developed in a Java and Spring Boot environment.
The purpose of VOP is to reduce misdirected payments by verifying that the intended recipient is in fact the account holder.
The work was carried out on behalf of an external client and focuses on validating incoming VOP requests, normalizing name strings, identifying exact and close matches and generating API responses. At the core of the logic was the use and implementation of the Levenshtein Distance algorithm, developed in a Java and Spring Boot environment.