The EPC Verification Of Payee (VOP) scheme is designed to allow the payment service providers (PSPs) in the European Economic Area (EEA) to comply with the new regulatory requirements outlined in the EU Instant Payments Regulation (IPR) within the given deadlines. The first version of the VOP rulebook limits itself to verifications of a payee related to a SEPA Credit Transfer (SCT) or a SEPA Instant Credit Transfer (SCT Inst).