The European Payments Council (EPC) published the new Verification of Payee (VoP) Scheme Rulebook v1.1 last week, introducing updates that will apply from 20 September 2026. 

One of the key changes is the phase‑out of BIC8, reinforcing the need for more granular and reliable identification through BIC11.These adjustments will have implications for PSPs, banks, processors and oversight bodies — from technical alignment to operational processes and exception handling