Faster payments leave businesses with less time to discover whether the account at the other end belongs to the wrong person, contains bad information or may be connected to fraud.

That pressure is moving verification closer to the point where money leaves the sender. A series of August launches is putting account and payee checks into payment APIs, enterprise resource planning and treasury connections and industry-specific payment platforms, allowing businesses to verify recipients inside the systems already being used to prepare and approve payments.

Experian and International Payments Identity (iPiD) announced Thursday (Aug. 27) a partnership extending account ownership verification beyond the United Kingdom into Single Euro Payments Area (SEPA) markets and regions including the Americas, Africa, Asia and the Middle East. The combined service will provide U.K. businesses with a single solution for verifying accounts across domestic and international markets.

That followed an Aug. 26 move by Open Payments, which integrated Verification of Payee directly into its API through a partnership with Movitz Payments. Payments originating in ERP systems, accounting platforms, treasury systems and other business applications can check whether the intended recipient matches the account holder before execution.

The announcements extend a pattern developing across payment infrastructure. Verification is becoming something the payment system itself can call before releasing the money.

The PYMNTS Intelligence report “ Payment Protection: Why Firms Still Aren’t Real-Time Ready ” found in August that 65% of firms plan to adopt or expand identity verification and know your customer automation during the next 12 months.

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