'Payment gateway' and 'Open Banking platform' get used interchangeably, but they aren't the same. A gateway's job is to move money. An Open Banking platform also reads account information, validates IBANs and verifies payees — the wider toolkit modern payments need. That distinction shapes how you adopt Verification of Payee.
What a plain gateway gives you
A stand-alone gateway focuses on payment initiation (PIS): it lets a payer authorise a transfer from their bank. That's valuable, but on its own it doesn't tell you whether the destination name matches the IBAN, nor does it pull account information for reconciliation.
VoP is part of a bigger picture
Verification of Payee, PIS and AIS reinforce each other: verify the payee, initiate the payment, then reconcile via account information. Splitting them across vendors adds integration and contracts.
What RoxPay adds
- Verification of Payee on the SEPA scheme — the name-vs-IBAN check.
- Payment Initiation (PIS) — authorise transfers directly from the bank.
- Account Information (AIS) — read balances and transactions for reconciliation.
- Basic and detailed IBAN validation — the 'IBAN trio' alongside VoP.
When the difference matters
If all you need today is to initiate a payment, a gateway can be enough. But if you also need to meet the VoP obligation, cut APP fraud and reconcile cleanly, a unified platform avoids stitching three vendors together. RoxPay delivers VoP, PIS and AIS on one European platform, so one integration covers verification, initiation and information.