iPiD has struck two deals in Korea, bringing its payee verification tools to DOZN’s clients and Hana Bank’s cross-border payment operations.

DOZN, a Korean digital commerce and payments platform, will resell iPiD Validate to financial institutions, payment service providers and corporates in Korea.

The real-time payee verification service allows users to check account details before a payment is made through features such as name matching, account confirmation and pre-payment validation.

The partnership comes as Korean payment providers and businesses handle more cross-border transactions and face pressure to reduce fraud, prevent misdirected payments and improve efficiency.

“Korea is one of the world’s most dynamic digital economies. Our partnership with DOZN brings trusted, accurate payee verification to a market that is scaling rapidly across borders.

Together, we’re helping Korean institutions strengthen trust in every transaction,”

said Damien Dugauquier, Co-Founder & CEO of iPiD.

Meanwhile, Hana Bank has deployed iPiD Node to support payee verification under the UK’s Confirmation of Payee framework and Europe’s Verification of Payee requirements.

Through a single integration, the bank can confirm whether a beneficiary’s name matches the account details before funds are sent across UK and European payment corridors.

The setup is intended to reduce payment errors and lower the risk of authorised push payment fraud without adding operational complexity.

Hana Bank said the service will support cross-border payments by businesses and individuals, including overseas transfers for expenses such as tuition and rent.

Featured image: Edited by Fintech News Singapore, based on image by mrsiraphol via Freepik