Confirmation of Payee and businesses: getting paid

If customers receive a “No Match,” or “Partial Match,” response, they’ll be advised to double-check details with the payee before proceeding, adding an extra layer of confidence in the payment process.

Here’s what you need to know as a business to make it easy for your customers to pay with confidence.

If a customer sees a “No Match” or “Partial Match” result, they might hesitate to pay, so make sure your account information is easy to find and accurate from the outset.

Make sure it’s easy for your customers to pay:

• Provide the correct account name: Include the correct name registered to your account on your invoices or any account-to-account payment advice to avoid mismatches or confusion.
• Ask your customers to save your business as a Payee: If you have regular customers, ask them to save you as a payee in their online or mobile banking app. That way they will only perform the Confirmation of Payee Match once. 
• Verify requests swiftly: If a customer has questions about your payment details after a “No Match,” confirm the correct account details (both your name and number) with them swiftly.

By providing accurate details, you’ll help ensure every payment arrives safely and on time. 

The service is currently only applied to customers using personal banking online and mobile banking platforms. As enhancements are made and thorough testing is provided, the service will be rolled out to business banking platforms later in 2025.

For more information on this service visit, www.getverified.co.nz.