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Confirmation of Payee (CoP)

The real-time check that confirms you're paying the right person, before money leaves your account. Here's what it is, how it works, and why it matters for Australian businesses.

Real-time verification
Live bank infrastructure
Australian-built

What is Confirmation of Payee (CoP)?

Confirmation of Payee (CoP) is a real-time verification service that checks whether the name on a bank account matches the person or business you intend to pay. Instead of trusting that a BSB and account number belong to the right entity, CoP queries the receiving bank directly and returns a match, partial match, or no match result.

Think of it this way: without CoP, sending a payment is like posting a letter to an address without checking who lives there. CoP is the step where you confirm the name on the letterbox before dropping the envelope.

This matters because payment redirection fraud relies on businesses not verifying account ownership. A scammer sends you "updated bank details" for a supplier you already pay. The BSB is valid. The account number is real. But the account belongs to the scammer, not your supplier. CoP catches this before you pay.

In the UK, CoP has been mandatory since 2020 and has significantly reduced misdirected payments. Australia is now building the same capability through the NPP (New Payments Platform) infrastructure, and ezyshield is one of the first non-bank platforms to offer live CoP to businesses.

How CoP works

CoP is a real-time query to the receiving bank. It happens in seconds, before any money moves.

1

Enter payment details

You enter (or your system provides) the payee name, BSB, and account number. The same details you would use for any payment.

2

Query the receiving bank

The CoP service sends a real-time request to the bank that holds the account, asking: "Does this name match the account holder?"

3

Get a result

The bank responds with a match, partial match (e.g. a close but not exact name), or no match. This happens in seconds, not days.

4

Decide before you pay

A match means the account belongs to who you expect. A no match means something is wrong, and you should investigate before sending money.

Why CoP matters

CoP closes the gap that payment fraud exploits: the assumption that bank details are correct because they look correct.

Stop misdirected payments

CoP confirms the account belongs to who you think it does. No more paying the wrong account because someone changed a digit or swapped the details.

Close the verification gap

Most businesses verify invoices but not the bank account on the invoice. CoP fills that gap with a real-time check against the actual bank.

Meet rising expectations

Regulators, insurers, and auditors increasingly expect businesses to verify payment recipients. CoP provides the evidence that you did.

EZYSHIELD + COP

How ezyshield uses CoP

CoP is powerful on its own, but it only confirms bank account ownership. ezyshield goes further by combining live CoP with identity verification, business validation, and continuous re-verification.

Live CoP through banking infrastructure

Real-time account ownership checks against the receiving bank. Not a static database lookup. A live query that reflects the current state of the account.

Identity + business verification

CoP confirms the bank account. Biometric verification confirms the person. ABN/ASIC validation confirms the business. All three together close every gap.

Continuous re-verification

Verified once is not verified forever. ezyshield re-checks before every pay run. If anything has changed, payment is blocked until re-verified.

Fully Verified
CoP Check Match
Person Confirmed
ABN / ASIC Active & Valid
Re-verified Current

Frequently asked questions

What is Confirmation of Payee (CoP)?
Confirmation of Payee is a real-time bank account verification service that checks whether the name on a bank account matches the person or business you intend to pay. It queries the receiving bank directly through banking infrastructure, rather than relying on static databases.
Is Confirmation of Payee available in Australia?
Yes. Australian banks are building CoP capabilities as part of the NPP (New Payments Platform) infrastructure. ezyshield is one of the first non-bank platforms in Australia to offer live CoP through direct banking infrastructure integration.
How is CoP different from BSB validation?
BSB validation only confirms that a BSB number is valid and identifies which bank and branch it belongs to. It does not verify who owns the account. CoP goes further by confirming the account holder name matches the person or business you intend to pay.
Does CoP replace identity verification?
No. CoP confirms bank account ownership, but it does not verify the identity of the person requesting payment. A scammer could own a bank account in their own name. That is why ezyshield combines CoP with biometric identity verification and ABN/ASIC business checks for complete protection.
How does ezyshield use Confirmation of Payee?
ezyshield uses live CoP as one layer of a multi-step verification flow. Before any payment is made, ezyshield confirms bank account ownership via CoP, verifies the person's identity biometrically, validates the business against ABN/ASIC records, and continuously re-verifies before every pay run.

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Verify every payment before it leaves

ezyshield combines live Confirmation of Payee with identity verification and business validation. See it in action.

Book a Demo How It Works