Variable recurring payments are ushering in the future of payments
The way customers pay, save and invest is changing
Variable recurring payments (VRPs) powered by open banking, are similar to direct debit and card on file — only much faster, more cost-effective and secure. The way it should be.VRPs let you take:
- Fixed and variable payments like streaming subscriptions and bills
- One-off payments such as topping up accounts
- One-click style checkouts like paying for on-demand food delivery or ride-hailing services
Benefit from:
Real-time settlement
Funds settle into your account in seconds, unlike cards and direct debits which can take up to five days.
Cut costs
Avoid card interchange fees and high operational costs associated with direct debit.
Fight fraud
Payments are authenticated directly with the bank using strong customer authentication, reducing fraud and unauthorised transactions.
Reduced customer churn
Cards expire. Bank accounts don’t. With VRPs you can keep collecting payments until the customer revokes payment consent.
Improve conversion
Customers authorise payments just once using fingerprint or facial recognition.
Be one of the first to try VRPs
You’re a few details away from experiencing the future of payments.
