The payments industry has long focused on the convenience of digital transactions, but with convenience comes risk. QR code–based payments have rapidly spread in Europe and worldwide, offering instant checkout experiences. Yet, fraudsters are exploiting the simplicity of QR codes to deceive consumers and merchants alike.
This is where SEPA’s upcoming Verification of Payee (VOP) framework comes into play — and why solutions like Yowpay are leading the way in making SEPA not only faster, but also safer than card payments.
How QR Code Frauds Work
QR codes are designed to make payments simple: scan, confirm, pay. But their simplicity is also their weakness. Fraudsters use several techniques to exploit unsuspecting users:
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Fake QR Codes on Websites or Shops
Criminals overlay or replace legitimate QR codes with their own. When scanned, the payment is redirected to the fraudster’s account instead of the intended merchant. -
Invoice Manipulation
Businesses issuing invoices with QR code payment options can become victims when hackers intercept emails, replace the QR code with one containing fraudulent account details, and send it to customers. -
Social Engineering
Fraudsters convince consumers to scan a “special QR code” for discounts or promotions, which in reality redirects funds or captures sensitive data.
Because QR codes don’t inherently verify the payee account, users often only realize the fraud after the money is gone.
Why SEPA VOP Changes the Game
The Verification of Payee (VOP) initiative under SEPA ensures that when a consumer initiates a transfer — whether manually, through open banking, or by scanning a QR code — the recipient’s name is checked against the IBAN.
If the details don’t match, the payer receives an alert and can stop the transaction before it’s too late.
This means:
✅ No more blind trust in QR codes
✅ Fewer invoice scams, since mismatched account details will be flagged
✅ Higher consumer trust in SEPA payments compared to card transactions, which remain vulnerable to chargeback frauds and stolen card data
In short, SEPA VOP makes account-to-account payments as secure, if not more secure, than cards.
SEPA vs. Cards: Shifting the Balance
Card payments have traditionally been seen as safer thanks to chargebacks and consumer protection frameworks. But they also come with major weaknesses:
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High fees for merchants
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Exposure to card-not-present fraud
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Expensive chargebacks and disputes
With VOP, SEPA takes a leap forward:
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Built-in fraud prevention with account name verification
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No card networks involved, reducing costs
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Instant settlement and higher acceptance rates with the right orchestration
The balance of power is shifting. SEPA is no longer just a “cheap alternative” to cards — it’s becoming the trusted payment backbone of Europe.
Why Yowpay Matters
While VOP will bring the framework, execution is key. That’s where Yowpay stands out:
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Smart QR Code Payments: Yowpay integrates SEPA QR codes with VOP checks, ensuring fraudsters can’t slip through.
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Multi-Channel Support: PIS (Open Banking), manual SEPA, and QR codes — all with built-in reconciliation.
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Business IBANs for High-Risk Industries: Gambling, adult, crypto, and forex industries gain access to reliable SEPA rails without being left exposed to card scheme restrictions.
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Fraud-Resistant Checkout UX: Customers trust Yowpay’s flows because each step is transparent, verified, and secured.
For merchants, this means better conversion, lower costs, and far fewer fraud risks. For customers, it means confidence that the money is going exactly where it should.
Conclusion
QR code fraud has exposed a critical vulnerability in modern payments. But with SEPA Verification of Payee, Europe is building the tools to stop it.
Yowpay combines this new security layer with intelligent orchestration, making SEPA not only more secure than card payments but also more profitable for merchants.
The message is clear: the future of payments is account-to-account — and with VOP, it’s safer than ever.