Banfico becomes first fully qualified RVM in EPC VOP scheme

This development marks a significant step forward as the industry approaches the European Instant Payments Regulation compliance deadline set for 9 October 2025. 

The VOP initiative has attracted participation from over 70 RVMs, all working against a tight schedule to support widespread implementation across the European payments sector. The fintech completed all required assessments, including functional tests defined in the EPC's API Reference Toolbox (ART), self-certification, and integration of the EPC Directory Service (EDS).  

This integration enables participants to update operational data via both API and web interfaces, with the EDS functioning as a cache service to improve efficiency.

Qualification and next steps

Officials from the fintech highlighted that early qualification allows the company to assist Payment Service Providers (PSPs) in meeting their regulatory requirements while delivering secure and reliable verification services. The company is currently coordinating with other RVM providers to undertake extensive buddy testing ahead of the VOP scheme’s go-live date on 5 October 2025, after which it will be ready for full production support. 

In addition to its RVM qualification, the fintech offers a range of VOP-related services, including conformance testing and service management. Its conformance testing capabilities extend beyond the EPC's ART specifications, providing deeper validation support for PSPs implementing VOP. 

Headquartered in London with subsidiaries in Germany, India, Saudi Arabia, and Brazil, the company supports more than 225 financial institutions globally. It also maintains an active role in industry standardisation efforts through involvement in multiple European payments and Open Banking forums.