VOP User Group #3: the EDS Local File and a VOP Portal
On March 4th, 2025, members of the Verification of Payee User Group met for the third time to discuss the latest developments in the VOP field – and notably the publication of the EDS local file –, the new features of the Payee Verification Platform provided by LUXHUB, and more.
The highly anticipated EDS Local File
The session started with an exchange around the recent publication of the EDS Local File. The file is the representation of the EDS in a form of file in XML, JSON, and CSV format to be used locally by scheme participants and their technical providers (e.g. Routing and/or Verification Mechanisms (RVM) for the VOP Scheme).
As highlighted by the LUXHUB experts, the EDS Local File specifications were consistent with the type and format of expected data. It contains participants identification data (participant BIC, account Holding BICs, PSD2 National Authorization Numbers- NANs to be used for the request authorization), adherence data (schemes the participant adheres to and the readiness date, roles and options) and API-endpoints related information (URI, environment, priority, version, effective dates and time).
They also note a differentiation in data structure between holding PSP (PI/EMI holding a payment account on behalf of one or multiple payees) and maintaining PSP (credit institution maintaining that payment account).
Payee Verification Platform updates
Besides announcing several updates on the VOP Service Provision and VOP Unified Access solutions, the LUXHUB Team presented some details regarding the VOP Portal, with three main features available:
- Direct Payee Verification to manually make VOP checks (and retrieve a past check); this would be particularly useful when the underlying credit transfer is initiated via phone or email
- Usage analytics (dashboard, reports, and list of supported Service Providers)
- Data provision monitoring (history of data files uploads, or data retrieval API request)
Below, a sneak peak of one of the Portal views. More details will be shared soon. Stay tuned.
Open questions
Finally, the experts shared a list of open questions. For instance, they wondered:
- If a payment order given through a document (pdf, Excel, …) attached to an email, is considered paper-based;
- If an order received by Fax is considered paper-based;
- Etc.
The members of the VOP User Group will meet again in the month of April. Interested in joining?
Get in touch with the LUXHUB team