The Routing and/or Verification Mechanism Multi-Stakeholder Group (RVM MSG) met on 7 May 2026 to review the latest developments of the Verification of Payee (VOP) scheme and ongoing work towards VOP 2.0.
The group noted the continued growth of the scheme, with VOP reaching close to one billion requests per month in March 2026, while highlighting the need to further improve reachability performance across participants.
Discussions focused on the VOP 2.0 roadmap, including the ongoing public consultation on change requests, with publication of the updated Rulebook planned for November 2026 and implementation expected in 2027 or later, subject to regulatory alignment.
Participants also reviewed key proposals such as making VOP scheme- and currency-agnostic and improving routing via IBAN-based search.
In addition, the group discussed the potential extension of VOP to non-EEA countries, recent updates to QWAC certificate standards, and upcoming changes to testing environments and reporting requirements.
Download the complete minutes from the 7 May RVM MSG meeting
Learn more about Routing and/or Verification Mechanisms for the Verification Of Payee scheme
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