Cloud-native A2A payments platform Form3 has recently introduced a Verification of Payee (VoP) solution to support European fintech company Mollie.

This implementation of the VoP solution is expected to enable Mollie to comply with European regulatory requirements, thereby protecting its customers from potential misdirected payments and authorized push payment fraud.

Expanding Form3’s Client Base

Mollie has joined a growing list of clients for Form3, which includes other fintechs like Klarna, GoCardless, and SumUp, as well as Tier 1 banks such as Barclays, JP Morgan, and Lloyds. More recently, PingPong partnered with Form3 to use its VoP solution for SEPA account validation, aiming to gain a competitive edge.

Efficient Onboarding and Regulatory Compliance

Aiming to meet the EU’s immediate deadline for VoP regulations, Form3 is committed to delivering an efficient platform that ensures compliance without compromising on future scalability. This platform leverages cloud-native infrastructure to facilitate high-volume payment flows across Europe and the UK, focusing on expansion and resilience.

The solution offered by Form3 not only supports VoP compliance but also aids clients in achieving operational resilience goals, including those under the Digital Operational Resilience Act (DORA). As a trusted third-party provider, Form3 is recognized as fully compliant with relevant regulations. According to Mike Walters, CEO of Form3, their API continually updates to ensure partners can meet any new regulatory requirements automatically.

Felix Würtenberger, VP of Product at Mollie, emphasized that implementing the necessary technical solution provided by Form3 will help the company maintain compliance and offer a secure and reliable service to its customers.