What changes are being introduced for GPFS Payouts and MassPay Refunds, and how does Verification of Payee (VoP) apply? 

From April 4, 2026, Verification of Payee (VoP) has been extended to cover GPFS payouts and MassPay refunds via incoming funds, in line with the EU Instant Payments Regulation. This means that certain payout and refund transactions will now be subject to beneficiary name and IBAN verification before they can be processed. 

Although refunds may originate from previous payments, they are treated as new, individual EUR credit transfers under EU regulation. As Convera operates as both the sending and receiving entity for EU-based customers, all such payments — including refunds — must undergo VoP checks to ensure the beneficiary name matches the IBAN provided. 

When a VoP check is performed, one of the following outcomes will be returned: Match, where the payment can proceed automatically; or Close match, No match, or Verification not possible, where confirmation is required before processing can continue. 

For GPFS payouts and MassPay refunds, if the VoP result is Close match, No match, or Verification not possible, a case will be raised and you will be required to confirm how to proceed. The payment will remain pending until your confirmation is received. 

If your refund or payout is delayed, this is likely because the VoP result requires your review. This step is mandatory under EU regulation to help reduce fraud and ensure payment accuracy. 

Verification of Payee is mandatory for all individual EUR payments, and as these flows are treated as individual transactions, it is not possible to opt out. 

This update builds on the initial VoP rollout in January 2026, where GPFS payouts and MassPay refunds were not yet included. The April 2026 release completes this coverage. 

For further information, please contact your Convera account representative or customer support team.