Cloud-native A2A payments platform Form3 has announced that it has successfully provided a Verification of Payee (VoP) solution for European fintech Mollie.
By implementing Form3’s VoP solution, Mollie is set to be able to meet European VoP requirements and better safeguard its customers from misdirected payments and authorised push payment fraud.
Mollie comes as the latest to become Form3’s client base, which now includes fintech companies such as Klarna, GoCardless, and SumUp, and Tier 1 banks like Barclays, JP Morgan, and Lloyds. Most recently, PingPong teamed up with Form3 to utilise its VoP solution for SEPA account validation, intending to get a competitive edge.
Supporting Mollie’s operations across Europe
Considering that the need to meet the EU’s regulatory deadline for VoP is immediate, Form3 intends to deliver a platform that can be onboarded efficiently and ensures regulatory compliance, without negatively impacting clients’ future scalability, including for Mollie.
Built on the same cloud-native infrastructure that facilitates high-volume payment flows across Europe and the UK, and focused on expansion and resilience, Form3’s platform allows payment service providers (PSPs) such as Mollie to meet regulatory requirements while also remaining prepared to expand their services as market and regulatory demands advance.
Furthermore, in addition to facilitating VoP compliance, Form3’s platform assists clients in achieving operational resilience goals in the EU, including the Digital Operational Resilience Act (DORA). Positioning itself as a trusted third party, the company is recognised as a fully compliant partner. Commenting on the collaboration with Mollie, Form3 CEO Mike Walters said that, as regulatory demands are on the rise and banks and fintechs are looking for a payments infrastructure that is compliant, agile, and adaptable, the company’s API continually updates so that partners can be automatically compliant with any new regulation.
Adding to this, Felix Würtenberger, VP of Product at Mollie, mentioned that implementing the required technical solution provided by Form3 will enable the company to be compliant and continue to offer a secure and reliable service for its customers.
