Does NoFrixion provide Verification of Payee (VoP)?
Yes, NoFrixion provides Verification of Payee (VoP) to help reduce the risk of misdirected payments and fraud.
VoP checks whether the account name entered matches the registered account holder details at the receiving bank before a payment is authorised.
Where is VoP available?
VoP is available across:
- Individual payouts
- Pay runs
- Bulk payouts
- Beneficiaries
- Rules (destination accounts)
What results can I receive?
After entering account details, one of four statuses will be returned:
- Match: The details match the receiving bank’s records.
- Close Match: The details are similar but not identical.
- No Match: The details do not match the receiving bank’s records.
- Unable to Verify: The check could not be completed (e.g. unsupported bank or technical issue).
Can I still proceed if it’s not a Match?
Yes, you can authorise payments under any status. However, if you proceed under Close Match, No Match, or Unable to Verify, you accept the associated risk.
NoFrixion will not be responsible for any losses.
Important
When sending payments, you should use your merchant account name as the account name. This is visible in the top-right corner of your portal.
If you would like the payment account name (instead of the merchant account name) to appear to customers during Verification of Payee checks, please contact support@nofrixion.com and we can check about updating this for you.
More information on Verification of Payee can be found here.