In the first half of 2023, UK Finance recorded over 116k instances of Authorized Push Payment Fraud. When compared to a similar period in 2022, this is a 22% increase. A total of £239.3 million was lost. There has never been a greater need to shield people and companies from dishonest actors.

In light of this, OneID®, the top document-free digital identity verification service in the UK, today announced its collaboration with SurePay, a top supplier of services for Payee confirmation. Through this strategic partnership, businesses will be better equipped to fend off the growing threat of online fraud by adding an extra layer of protection.

When it comes to verifying payee details, businesses and individuals can feel more confident thanks to SurePay's extensive range of services, which include Confirmation of Payee, Confirmation of Payer, EU Verification of Payee, IBAN-Name Check for Organizations, IBAN-Name Check for Banks, Switch Check, and SurePay PayID. Combining these products with OneID®'s digital identification services, which allow for fraud checks, digital ID checks, and bank account ownership verification, offers businesses the broadest protection against payment fraud.

"SurePay has an impressive clientele of over 100 banks and 300 corporates spanning diverse sectors such as automotive, technology, and food and beverage," stated Keith Mabbitt, Chief Customer Officer, OneID®. When onboarding new clients, the combination of OneID's bank-verified digital ID—which is available to around 50 million adults in the UK—will provide more security. Effectively, this partnership will make it possible for businesses utilizing payment services to swiftly and simply confirm the identification and bank account information of almost all adults in the UK.

David-Jan Janse, CEO of SurePay, made the following statement in response to the news: "In our experience, digital identity and confirmation of payee are a valuable combination. to ensure effective onboarding and to stop money laundering and fraud. As a result, we are eager to collaborate with OneID, the industry pioneer in digital identity."

The integration of OneID® and SurePay's services helps businesses to comply with legal obligations and restores the reliability of digital infrastructure, even while the landscape of online threats keeps changing. This is another step in the direction of making people's and companies' digital travels safer and easier.