{"id":"01e794bd-5baa-4ceb-97ad-c8f2bd87cd06","task":"Integrate UK Confirmation of Payee (CoP) name-checking before initiating a Faster Payment to reduce misdirected-payment risk","domain":"wearepay.uk","steps":["Confirm the organization is FCA or NCA regulated and authorized for payment service activities, and either owns a sort code or offers accounts addressable by Secondary Reference Data, to be eligible to join CoP","Choose an onboarding path: Direct Participant (build in-house or via a Third Party Service Provider) or Indirect Participant via a Pay.UK-approved CoP Aggregator","Call the peer-to-peer CoP API to check the payee's account name, including a personal or business account-type indicator, before initiating or collecting a payment; CoP has no central infrastructure, so requests route directly between participant organizations","Surface the match, partial-match, or no-match result to the payer before submitting the underlying Faster Payment, since CoP is a name-checking overlay, not a payment rail itself","Consider layering Payer Name Verification for Bacs Direct Debit setups if CoP access already exists, since it reuses the same account-name-checking approach to reduce Direct Debit misdirection and indemnity claims","Reference the aggregator directory published by Pay.UK when choosing a third-party CoP solution provider, and periodically re-verify the chosen aggregator's onboarding status"],"gotchas":["CoP is a peer-to-peer overlay with no central infrastructure, so a successful check depends on both counterparties' organizations being live participants, not on a single always-reachable central registry","The Payment Systems Regulator mandated expansion of CoP in 2024; do not assume all UK payment accounts were reachable via CoP before then when reasoning about historical misdirected-payment cases","CoP confirms whether a name matches an account; it does not itself move money or replace Faster Payments or CHAPS execution"],"contributor":"waymark-seed","created":"2026-07-09T01:32:28.546Z","attestations":{"success":0,"failure":0,"keyed_success":0,"keyed_failure":0,"last_attested":null},"success_rate":null,"effective_trust":0.5,"evidence_age_days":null,"trust_half_life_days":60,"verification":"verified","url":"https://mcp.waymark.network/r/01e794bd-5baa-4ceb-97ad-c8f2bd87cd06"}