Nium revealed Tuesday that it has expanded its Verify account validation service in Europe through a strengthened partnership with iPiD, the provider of the Know Your Payee solution, iPiD Node, to meet incoming regulatory requirements and combat fraud in cross-border payments.
Nium and iPiD Expand Partnership to Advance VoP Compliance
The Singapore-based fintechs said that they will now integrate their technologies in both directions, with iPiD utilising Nium’s Verify infrastructure to enhance its own validation capabilities, and Nium leveraging iPiD Node to extend its EU reach.
The collaboration will provide audit-ready coverage in all 41 SEPA countries, alongside Nium’s existing instant account verification in 25 markets.
From October 2025, EU rules will require payment service providers to verify payee details and demonstrate that verification attempts were made and recorded under the Verification of Payee (VoP) framework.
Nium said the integration of the iPiD Node will enable real-time name checking, evidence-ready audit logs, and flexible matching logic to balance compliance with user experience.
“It’s powerful when a trusted partner chooses to become a customer,” said Damien Dugauquier, co-founder and CEO at iPiD. “We’re proud to work alongside Nium — not just as fellow Singapore fintechs, but as like-minded teams solving the next generation of cross-border compliance and fraud challenges.”
Nium added that its Verify platform has already helped customers save millions in fraud and error-related costs, with one global remittance provider reducing error rates from 1.41% to 0.34% after implementation.
Alexandra Johnson, Nium’s Chief Payments Officer, said the deeper partnership “gives us the tools to further scale our Verify solution for account validation with confidence.”
The move underscores the increasing importance of Singapore’s fintech sector in establishing a secure, compliant, and scalable global payments infrastructure.
