Nium has expanded its Verify account validation service in Europe through a deeper, two-way partnership with iPiD, provider of the Know Your Payee solution, iPiD Node.
As part of the agreement, iPiD is adopting Nium’s Verify technology to enhance its own validation capabilities and global coverage, tapping into Nium’s established account verification infrastructure.
The move comes ahead of the European Union’s October 2025 Verification of Payee requirement, which will require payment service providers to verify payee details and keep records of those checks.
The integration of iPiD Node extends Nium’s audit-ready coverage to an additional 41 countries in the Single Euro Payments Area, adding to its instant account verification services in 25 countries.
Nium says Verify connects directly to domestic real-time payment systems for account validation, complemented by iPiD Node’s compliance-ready infrastructure and evidence logs.
According to Nium, the service has reduced fraud and error-related costs for clients, including lowering error rates for a remittance provider from 1.41% to 0.34%.
Nium also says it is the only provider with direct access to global real-time payment schemes for both payments and real-time account validation.
The collaboration will give financial institutions in the EU access to real-time name-checking flows, audit logs, and flexible matching logic designed to balance security with usability and reduce false positives in high-risk cross-border transactions.
“It’s powerful when a trusted partner chooses to become a customer.
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.”
said Damien Dugauquier, Co-founder & CEO at iPiD.
“As regulation and risk evolve, we’re focused on building infrastructure that goes beyond the payment to provide both compliant and customer-centric solutions.
Deepening our relationship with iPiD gives us the tools to further scale our Verify solution for account validation with confidence.”
said Alexandra Johnson, Chief Payments Officer at Nium.
Featured image: Edited by Fintech News Singapore, based on image by Max_B17 via Freepik
