Equals Joins Confirmation of Payee Scheme

Equals​, the technology-led international payments group focused on the SME marketplace, announces today that it has joined the Confirmation of Payee ('CoP') scheme operated for UK payments.

Equals' participation in the CoP scheme is another key component in the Group's mission to make payments simpler and more secure for its customers. Equals is achieving this by marrying bank-grade connections to payment networks with leading edge technological platforms, and enhanced user experience to provide its customers with rapid, secure, and easy-to-access payment solutions. Joining the CoP scheme complements ongoing work to roll out named account details to payments and expenses customers, leveraging the Group's connectivity to the UK's Faster Payments network.

By enrolling with the CoP scheme, Equals becomes only the 4th UK non-bank and the 15th participant to 'go live' with this scheme, offering its customers an important additional layer of protection against fraud.

Ian Strafford Taylor, CEO of Equals, said: "Our decision to join the UK CoP scheme places us at the forefront of our industry and demonstrates our commitment to protecting our customers from avoidable fraud risk by providing them with a single platform that makes payments simpler yet more secure."