46% of Poles believe that the Verification of Payee (VoP) will protect transfers from errors

The study by KIR and the Polish Bank Association (ZBP) shows that Poles expect banks to provide modern and effective tools that increase transaction security. One of the solutions set to radically change the way bank transfers are carried out in the European Union is the Verification of Payee (VoP). Respondents rated it as a necessary and useful tool that minimises the risk of mistakes and fraud when making transfers.

The VoP service verifies whether the payee’s details – the account number and the name provided by the payer – match the actual account holder’s data before the funds are sent. This process takes place in real time before the transfer is approved, allowing for quick verification of whether the details are correct. As a result, the payer can be confident that the funds will reach the intended individual or organisation.

As shown by the study conducted by KIR and ZBP, electronic banking customers view payee verification as both necessary and useful. Respondents emphasised that the service increases their sense of security – with as many as 46% agreeing that VoP effectively protects against errors when completing a transfer. Every third respondent (35%) pointed to the reduction of financial fraud – involving the deliberate provision of incorrect transfer details – as a key advantage of this service. 27% of respondents highlighted the particular importance of this feature for high-value transfers, while 19% believe the service is especially significant when transferring to new payees. Fewer than 2% of respondents said that Verification of Payee is unnecessary.

Bank customers expect simple and effective security measures, especially now, as the scale of cyber-threats continues to grow. The Verification of Payee responds to these needs – the users can be confident that the funds will reach the intended individual or organisation. This solution significantly increases comfort and trust in electronic banking, emphasises Grzegorz Leńkowski, Director of the Instant Payments Business at KIR.

The implementation of VoP is part of a broader digital transformation of financial services, aimed at increasing security and customer trust in the payment system in Poland and across the European Union. In accordance with the EU's Instant Payments Regulation (IPR), payment service providers in member states are required to offer VoP services to their customers: from 9 October 2025, in the eurozone and by 9 July 2027, at the latest outside the eurozone, which includes Poland.

We want the Verification of Payee service to become a standard in daily banking operations, and as KIR, we offer banks an efficient integration of this new mechanism in compliance with IPR requirements. We are ready to provide the banking sector with modern technological solutions, tailored to the specifics of the Polish market, that will simplify and standardise the payee verification process, adds Grzegorz Leńkowski.

As research results show, the VoP service is highly rated in terms of relevance and utility by Polish electronic banking users, primarily as an effective protection against errors and fraud. High usefulness was reported by both younger and older individuals, underscoring the universal nature of the benefits associated with VoP.

At the same time, a significant portion of customers (25% of respondents) is not yet fully aware of how the service works or what value it brings, which points to the need for not only technical implementation but also user education. This will enable customers to use the service more effectively and efficiently, resulting in stronger protection of their assets and personal data.

* Study by the Minds&Roses centre, April 2025, N=1000