Glossary / Verification & identity
Payee Verification
Payee verification confirms that the party you are about to pay is who they claim to be and owns the account receiving the funds, before a payment is authorised.
What does payee verification confirm?
Payee verification focuses on the party receiving your money. It confirms two linked facts before a payment is authorised: that the payee is genuinely who they claim to be, and that the account taking the funds actually belongs to them. It is the receiving side counterpart to checking who is sending or approving a payment.
For example, an accounts payable team onboards a new supplier and receives an invoice with bank details attached. Payee verification confirms the supplier exists, matches its ABN and ASIC registration, and owns the nominated account, before the first payment run rather than after a loss is discovered.
Why it matters for Australian finance teams
Most payment fraud aimed at Australian businesses targets the payee side: a fake supplier, an impersonated vendor, or an altered account on a real invoice. Scamwatch data on business email compromise shows losses in the tens of millions each year. Verifying the payee before you pay closes the gap that manual checks, a phone call or a hopeful email, routinely miss under time pressure.
How ezyshield helps
ezyshield verifies the payee’s identity, the business via ABN and ASIC records, and bank account ownership before money moves, and re-verifies whenever those details change. Every check lands in an append-only audit trail that is logged and never edited or deleted, so you can show you verified correctly. See how it works and our guide to supplier verification in Australia. ezyshield covers Australian account payments, not card payments or international transfers.
Also known as: payee verification, verify payee
Last updated: 7 July 2026
Related terms
- Payer Verification Payer verification confirms the identity and account ownership of the party sending or authorising a payment, so only a genuine, verified payer can set up or approve a debit.
- Payment Verification Payment verification is the process of confirming that a payee's identity and bank account details are genuine before a payment is sent, so money reaches the intended recipient and not a fraudster.
- Bank Account Ownership Verification Bank account ownership verification confirms that a person or business actually owns the bank account they have nominated, before you pay it, so funds are not sent to an account controlled by a fraudster.
See also: How ezyshield works , Supplier verification in Australia , Payment redirection fraud
Stop payment fraud before money moves
Verify the person, business, and bank account before any payment leaves your account.