European Payments Council Opens Request For Proposal For VOP API Test Environment
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The European Payments Council (EPC) has announced a new request for proposal (RFP) for selecting a technology service provider. The Council revealed that the provider will handle creating and running a test space for the VOP API.
The VOP scheme is set to begin on 5 October next year. The council said the Scheme will allow payment service providers in the EU and EEA to test and confirm the VOP API for credit transfers. This is part of the Instant Payment Regulation to ensure safer and faster payments across Europe.
The EPC Aims To Ensure The VOP System Works Smoothly
According to the update, the Verification Of Payee scheme uses APIs to send messages between payment service providers. This is important for ensuring the system works across different countries and that all participants in the scheme can communicate properly. The EPC wants to ensure this system functions smoothly and allows for quick and reliable transactions across borders.
To support the new project, the EPC plans to create a “VOP API Reference Toolbox.” This toolbox will give payment service providers the tools to test and see if their systems follow the VOP rules. It will help with both server-side and client-side checks, ensuring that payment service providers meet the requirements before beginning.
The EPC’s request for proposal will be open until 17 January next year, and interested candidates must submit their applications by that date. The EPC said all candidates who meet the eligibility requirements can apply. To begin the application, candidates need to fill out a form to get the full RFP document. Afterward, they can submit their proposals via email.
The EPC Aims To Evaluate All Applicants Before Choosing A Provider
According to the update, the EPC will carefully evaluate the responses from all applicants. Once the EPC Board gives formal approval, the final provider will be selected. The European Payments Council said the chosen provider will ensure the test environment works well for everyone in the VOP scheme.
The European Payments Council is a non-profit group that works to standardize payments in the Single Euro Payments Area. It improves electronic payments to be safer and simpler all over Europe. The EPC oversees four key payment systems that handle billions of transactions each year in 36 countries.
This request for proposal is an important move as the VOP scheme gets closer to being put in place. With a dependable testing system, the EPC hopes to ensure the VOP API runs well when it launches. The EPC’s actions will help create a better and more connected payment system for people and businesses across Europe.
