Equals Group PLC Equals joins anti-fraud scheme
April 01 2021 - 2:00AM
RNS Non-Regulatory
TIDMEQLS
Equals Group PLC
01 April 2021
For immediate release 1 April 2021
Equals Group plc
('Equals' or the 'Group')
Equals joins anti-fraud scheme
Equals (AIM:EQLS), the technology-led international payments
group focused on the SME marketplace, announces that it has joined
the Confirmation of Payee ('CoP') scheme operated for UK
payments.
The CoP scheme, which is administered by Pay.UK
(https://www.wearepay.uk/), aims to reduce incidences of payments
fraud and misdirected payments by enabling the name of a payment
recipient (the Payee) to be checked against the bank and account
details provided, before a payment is confirmed. This provides more
certainty for the sender of funds that their payment is being
instructed to the correct payee.
Equals' participation in the CoP scheme is another key component
in the Group's mission to make payments simpler and more secure for
its customers. Equals is achieving this by marrying bank-grade
connections to payment networks with leading edge technological
platforms, and enhanced user experience to provide its customers
with rapid, secure, and easy-to-access payment solutions. Joining
the CoP scheme complements ongoing work to roll out named account
details to payments and expenses customers, leveraging the Group's
connectivity to the UK's Faster Payments network.
By enrolling with the CoP scheme, Equals becomes only the 4(th)
UK non-bank and the 15(th) participant to 'go live' with this
scheme, offering its customers an important additional layer of
protection against fraud.
Ian Strafford Taylor, CEO of Equals, said: "Our decision to join
the UK CoP scheme places us at the forefront of our industry and
demonstrates our commitment to protecting our customers from
avoidable fraud risk by providing them with a single platform that
makes payments simpler yet more secure."
- Ends -
For more information, please contact:
Equals Group plc
Ian Strafford-Taylor, CEO Tel: +44 (0) 20 7778
Richard Cooper, CFO 9308
www.equalsplc.com
Canaccord Genuity (Nominated Advisor
/ Broker)
Emma Gabriel / Bobbie Hilliam / Georgina Tel: +44 (0) 20 7523
McCooke 8150
Alex Aylen (Sales)
Buchanan (Financial Communications)
Henry Harrison-Topham / Steph Watson Tel: +44 (0) 20 7466
/ Toto Berger 5000
equals@buchanan.uk.com www.buchanan.uk.com
Notes to Editors:
Equals Group is a technology-led international payments group
augmented by highly personalised service for the payment needs of
SME's whether these be FX, card payments or via Faster Payments.
Founded in 2007, the Group listed on AIM in 2014 and currently
employs around 250 staff across sites in London and Chester. For
more information, please visit www.equalsplc.com .
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