Revolut launches Confirmation of Payee for UK customers

Digital banking service Revolut has today introduced Confirmation of Payee for its three million UK retail customers.

The new feature has been launched with the help of payments provider Modulr, which became the first non-bank to offer the service back in September 2020.

Confirmation of Payee is a fraud prevention system led by Pay.UK which checks the name of a bank transfer recipient matches those details held by the bank.

Read more: AltFi