Keystone Ledgerworks Launches Verification of Payee API for Platforms and Marketplaces
Platforms that initiate SEPA transfers on behalf of users can now run payee name checks and show the four standard outcomes inside their own interfaces.
AMSTERDAM — Keystone Ledgerworks today launched a Verification of Payee API that lets platforms, marketplaces and software companies run payee name checks before their users send euro credit transfers, both instant and standard.
Why it matters
Under the EU Instant Payments Regulation, payment service providers in the euro area must offer a verification service that checks whether the name of the intended payee matches the account identifier before the payer authorizes a transfer. The obligation applies from 9 October 2025 to PSPs in euro-area member states. Platforms that build their own payment flows on top of a PSP need a way to present those results clearly to their users.
What the API returns
The Keystone API accepts the payee name and IBAN, performs the check through the relevant verification scheme, and returns one of four outcomes: a match, a close match with the name held by the payee's bank, no match, or a result indicating that the check could not be performed. Platforms can display each outcome in their own interface while following recommended wording, and the payer can still choose to proceed after being informed.
Each check and the user's subsequent decision are logged, giving platforms an audit trail that supports complaint handling and dispute investigation.
"Verification of Payee is one of the most practical anti-fraud and anti-error measures in the regulation," said Keystone's head of product. "We wanted platforms to be able to offer it without building scheme connectivity themselves."
The API is generally available to Keystone customers, with sandbox access for all prospective customers.
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