The European Payments Council (EPC) has released version 2.0 of its recommendations on matching processes under the Verification Of Payee (VOP) scheme, aiming to reduce unnecessary failed matches and smooth payment initiation for users. The revised document provides more detailed direction on character sets permitted in VOP requests and responses, and sets out how PSPs and Routing and/or Verification Mechanisms (RVMs) should handle character conversion and messages with characters outside the permitted set. The goal is to encourage a consistent and accessible rollout of the VOP scheme across the market, by limiting avoidable No Match or Close Match results and preventing unnecessary obstacles when users initiate payments. https://regtechanalyst.com/epc-vop-update-puts-pressure-on-psps-to-cut-false-mismatches/