Introduction

Nuapay allows you to verify account holders in two ways, via:

  • Open Banking - AIS
  • Account Holder Verification - Confirmation of Payee (CoP)

AIS Mode

Account Holder Verification allows you to leverage the power of Open Banking Account Information Service to verify if user details, held by you, match the account details stored at the user's bank.

Open Banking Account Information Service (AIS) allows merchants, via the Nuapay TPP, to verify account ownership of individuals. The solution has been designed to be flexible enough to be used for various use cases.

For example:

  • A merchant may want to issue a payout (via the Create Credit Transfer & Beneficiary API) but first wants to confirm that the customer name that the merchant holds is the same as the account name into which the payment will be made.
  • If the user is Tommy Smith, for example, the merchant can use the Verification service to request the user to grant consent to view account details at his bank.
  • If the account holder name returned by the bank is Thomas Smith, the name matching algorithm will result in a 100% match, so the merchant can be confident that the payment that is about to be made is going to go to the correct beneficiary

Customer verification is a 2-step process:

  • Request the Customer consent to retrieve account details from the bank.
  • Using the retrieved account details, calculate a verification score against data that the client already holds (i.e., the customer’s name). Currently the matching is carried out only on the customer’s name.

CoP Mode

In Confirmation of Payee (CoP) mode (for UK users processing GBP only)

  • Use the service to pass the account details to the target bank.
  • The bank will perform the matching and return a score.
  • Based on the score returned, you can decide on the next steps.