FIN.

Pay.UK heralds COP launch

Pay.UK has heralded the introduction of Confirmation of Payee and has reminded users of the importance of using “first name surname” rather than a nickname on payment details. Its data shows that 34% of customers have previously made payments using nicknames, and that 37% of business brands trade under a different name to that on their bank or building society account.

Within the next two weeks a number of UK banks and building societies will have completed the first phase of the name checking service.

FIN. Team