Freemarket Extends Partnership with tell.money to Support Verification of Payee (VOP) Rollout Across Europe

22 July 2025, London, UK. Freemarket, the global payments platform helping money service businesses, gaming companies, and digital asset providers access multi-currency accounts, FX, and stablecoin solutions, has extended its strategic partnership with tell.money by selecting the company as its provider for Verification of Payee (VoP) services for its European subsidiary, Freemarket Ireland Limited. This marks the next phase in a successful collaboration that began with Confirmation of Payee (CoP) services in the UK, reinforcing Freemarket’s commitment to secure, compliant, and streamlined global money movement.

VOP is an emerging payment security feature for the Single Euro Payments Area (SEPA), aimed at reducing fraud and misdirected payments, particularly in the context of instant payments. By checking whether the payee's name matches the account details (such as IBAN) before a transaction is processed, VOP helps users confirm they are sending funds to the correct recipient.

Geoff Close, Chief Risk Officer at Freemarket, said:
"The introduction of VOP is a critical step in supporting the growth of secure and transparent SEPA payments. We’re pleased to extend our partnership with tell.money, whose capabilities and experience in delivering CoP have given us complete confidence in their ability to support our next phase of growth."

David Monty, Founder of tell.money, added:
"We’re excited to deepen our collaboration with Freemarket and bring our VOP solution to the European payments landscape. Just as Confirmation of Payee transformed how UK payments are verified, VOP has the potential to significantly improve trust and reduce risk across the SEPA region. Our fully managed approach makes it fast and seamless for fintechs to comply without heavy infrastructure or resource burdens."

Designed specifically for non-bank PSPs, EMIs, and fintechs operating in SEPA, tell.money’s VOP solution offers a complete package, covering technical implementation, monitoring, ongoing updates, and full compliance alignment. With instant payments becoming the norm across Europe, VOP is a critical fraud prevention tool for both regulators and financial institutions.

This latest milestone reflects the growing alignment between tell.money and Freemarket in prioritising security, customer protection, and future-ready financial infrastructure.

-ENDS-  

Notes to editors  

About Freemarket

Freemarket is a tech-enabled, relationship-led payments provider, helping regulated businesses move money seamlessly across their network and beyond. Our platform enables businesses to trade, pay, and receive with efficiency, unlocking new opportunities for growth.

With a trusted network of banking, NBFI and fintech providers, Freemarket provides secure, borderless payment solutions designed to help businesses scale, save, and succeed. 

In 2023, Freemarket acquired a European payment institution licence, enabling its European subsidiary, FreemarketFX Ireland Limited, to support clients across the EU with ease and efficiency. Freemarket’s board includes Charlotte Crosswell, former CEO of Innovate Finance and Rich Ricci, the former CEO of Barclays Investment Bank. FreemarketFX Limited is authorised by the Financial Conduct Authority (FCA) – Firm No.585093. FreemarketFX Ireland Limited is authorised and regulated by the Central Bank of Ireland (Firm No. C456818).

About tell.money

tell.money is a market-leading open ecosystem platform, offering a suite of services that include Dedicated Interface APIs, Confirmation of Payee, Verification of Payee and advanced Test & Monitoring systems. With a commitment to promoting seamless integration and regulatory compliance in the open banking ecosystem, tell.money continues to transform financial technology into a force for good.