Nium, a worldwide infrastructure for real -time cross -border payments, announced today the expansion of verification, the validation service of its account in Europe through an enhanced strategic cooperation with IPID, the KNOW your Paye (KYP) Provider (KYP).
In the context of this deeper cooperation, IPID also utilizes Nium’s verification technology to enhance its own validation capabilities, signaling a mutual cooperation between two of Singapore’s most important innovative. By executing Nium’s account verification infrastructure, IPID is able to enhance its worldwide coverage.
With VOP making a regulatory requirement in the EU by October 2025, payment service providers (PSPS) is expected not only to verify the beneficiary’s details but also to prove that the verification was attempted and recorded correctly.
Through this partnership, the integration of the IPID hub expands the range of Nium’s verification solution into the EU, with ready -to -control to the additional 41 countries in the SEPA zone. Adding Nium’s direct -account verification capabilities to 25 countries worldwide.
“It is powerful when a reliable partner chooses to become a customer,” said Damien Dugauquier, co -founder and chief executive of Ipid. “We are proud to be working with the nium-not only as Singapore Fintechs colleagues, but as uniform groups that solve the next generation of cross-border compliance and challenges of fraud.”
While many providers are based exclusively on name matching tools for validating the beneficiary, the Nium verification solution, by integrating the Ipid hub, allows its infrastructure to provide increased experience, utilizing API answers in real time directly from domestic RTP systems, transactions.
Adding Ipid node also ensures advanced capabilities to the EU, including:
- Real -time request flows
- Ready for evidence and check records to meet regulatory requirements
- Flexible matching of names to balancing safety with usability
“As regulation and risk evolve, we focus on building infrastructure that exceeds the payment to provide both compatible and customer -centric solutions,” said Alexandra Johnson, head of payments in Nium. “The deepening of our relationship with the ipid gives us the tools to further escalate the verification of the solution to validate the account with confidence.”