IPID Payee Verification

IPID, operated by iPiD Pte. Ltd., provides payee verification, described as Know Your Payee, for banks, payment service providers, platforms and corporates. It addresses failed payments, misdirected transfers and fraud by confirming who is receiving funds before a payment is sent.

The offering includes Payee Verification, Trust Score, Bank Reference Data, ISO 20022 address verification and a payment-agent verification service. Checks cover whether an account is open and whether the holder name matches the intended payee, across more than 50 countries according to the funding announcement.

• Payee Verification: confirms account status and name match before payment.
• Trust Score: risk indicator for the receiving account.
• Bank Reference Data: reference data to enrich and validate payment details.
• Address Verification: ISO 20022 structured address checks.
• Payment Agent verification: payee checks for payment agents and intermediaries.
• Regulatory coverage: FATF16, EU VoP, UK CoP and US Nacha 2026 risk rules.

• Vietnamese banks verifying overseas beneficiaries before outbound remittances.
• Marketplaces and payout platforms checking seller accounts before disbursement.
• Corporates validating supplier bank details to prevent invoice-payment fraud.

• Reduces failed or misdirected payments by verifying the payee before funds move.
• Supports fraud-risk assessment and regulatory obligations such as FATF 16.
• Covers compliance schemes including EU Verification of Payee and UK Confirmation of Payee.
• Holds ISO/IEC 27001 certification, shown on the website.

Instant and cross-border payments have raised the cost of sending money to the wrong or fraudulent recipient, and regulators in the EU, UK and US are introducing payee-verification rules. Southeast Asian banks and fintechs with international corridors face the same pressure as real-time schemes expand.

Entity iPiD Pte. Ltd.; announcement datelined New York and Singapore. USD 16 million Series A (2026-09) led by Foundation Capital with Citi, HSBC, QED Investors, Monk's Hill Ventures and Quona Capital. Listed on Microsoft Azure Marketplace.