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Penny Drop API

Instant Bank Account Verification via ₹1 Transaction

Ensure account authenticity and reduce fraud risks during payouts, KYC, and customer onboarding processes.

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What is Penny Drop API?

Penny Drop Verification meaning refers to the process of authenticating bank account ownership through a minimal ₹1 transaction. This process retrieves the account holder’s name directly from the bank and matches it with the provided details to ensure accurate and secure payouts.

As a trusted Penny Drop service provider, we offer a robust and scalable API that can be easily integrated into your existing systems. With simple Penny Drop integration, you gain access to real-time account validation capabilities without compromising security or user experience.

Verify Bank Accounts Instantly with Meon API 

What we offer

Our Penny Drop API suite offers two robust APIs designed to simplify and secure your bank account verification workflows

Penny Drop API

Instantly verify bank account ownership through a nominal ₹1 credit transaction as part of the penny drop verification process. This API retrieves the beneficiary’s account holder name directly from the bank in real-time, enabling seamless penny drop account validation to prevent fraud during payouts, KYC, and onboarding.

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Penny Drop API illustration

Reverse Penny Drop API

Confirm account validity by initiating a ₹1 debit transaction (reversal). This reverse penny drop method adds an extra layer of security, ensuring the beneficiary account is active and authorised to receive payments — a critical feature for businesses seeking reliable penny drop verification for KYC and payouts.

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Reverse Penny Drop API illustration

How it Works

A step-by-step overview of how our Penny drop services validate bank account details in real time

Penny Drop Verification

Penny Drop

Reverse Penny Drop Verification

Reverse Penny Drop

Ready to secure your payouts and onboarding?

Some Use Cases of Penny Drop API

Banking & Finance

Comply with regulations by verifying customer bank details with precision.

Funds Transfer

Confirm both sender and receiver bank accounts in real time during digital transfers.

Online Marketplaces

Authenticate bank accounts of buyers and sellers to secure e-commerce payments.

Utility & Bill Payments

Validate payer and payee bank accounts during seamless bill payment processing.

Meon’s API Suite

DigiLocker API

Fetch verified government-issued documents directly from DigiLocker.
Penny Drop API

Verify the account holder’s name and bank details via a ₹1 deposit check.
OCR Verification

Extract and validate text from scanned documents and images.
Face Verification

Perform live face match with secure location capture for identity proof.
FAQs

Frequently Asked Questions

Still have questions? Reach out to us — we're happy to help.

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What is Penny Drop Verification, and how does it work in India?
Penny Drop Verification India is a real-time bank account verification process used to authenticate account ownership. It involves a nominal ₹1 transaction to retrieve and confirm the account holder’s name, ensuring secure payouts and compliance during KYC and onboarding.
How does Penny Drop Bank Account Verification benefit businesses?
Penny Drop Bank Account Verification reduces payment failures and fraud by validating beneficiary account details instantly. It streamlines customer onboarding, enhances KYC processes, and ensures that payouts reach the correct recipients.
What are the typical costs involved in Penny Drop Verification?
The penny drop verification cost generally involves a minimal ₹1 transaction per verification. Pricing may vary depending on volume and service provider, making it a cost-effective solution for large-scale bank account validation and KYC compliance.
Can Penny Drop Verification software be integrated into existing systems?
Yes, modern penny drop verification providers offer scalable APIs that can be easily integrated into your existing software infrastructure. This allows seamless automation of bank account validation and real-time verification during onboarding or payout processes
Why choose Meon as your Penny Drop Verification partner?
As a trusted penny drop verification provider, Meon delivers reliable, secure, and scalable penny drop services tailored for KYC and payout workflows. Our robust API ensures accurate account validation with minimal cost and maximum efficiency