Confirmation of Payee (CoP) and Validation of Payee (VoP) are two distinct IBAN-Name matching schemes used to limit payment errors before a payment is processed.Confirmation of Payee (CoP) is a fraud prevention system primarily used in the UK. It checks whether the name attached to a bank account matches the name provided by the person making a payment. This system helps prevent fraud by alerting the payer if the details do not match, thus allowing them to confirm the accuracy before proceeding.Validation of Payee (VoP), on the other hand, will soon be in use in the SEPA zone and involves the same process as CoP: checking the name vs IBAN match of the payee.The main difference lies in the territory it is in use: CoP was designed for the UK and works only there, while VoP will be enforced in the SEPA zone. Also, CoP is mandatory in a specific list of banks whereas VoP will be mandatory for all SEPA zone banks. Both methods provide a broader safeguard against various types of payment errors and fraud.