Variable recurring payments

Variable recurring payments

Reduce costs, fraud and friction with recurring payments — powered by open banking.

“This isn’t innovation for the sake of it. VRPs deliver meaningful benefits — consumers are firmly in control, the service is secure and user friendly, the cost of service is competitive, and regular payment approval rates are likely to be phenomenal.”

Colin Hollingsbee
Colin Hollingsbee, CIO
The Credit Thing

Fast, successful recurring payments

With VRPs, funds settle in seconds, unlike cards and direct debits which can take up to five days — helping you stay on top of your cash flow. Increase payment success with a method that doesn’t expire and allows you to confirm funds before taking a payment.
  • Instant pay-ins
  • Real-time payment confirmation

More secure

Payments are authenticated directly with the bank using strong customer authentication (SCA), reducing fraud and unauthorised transactions. And by removing the need to store card details or passwords your customer’s data is kept safe and secure.
  • Bank authentication
  • SCA compliant
  • PSD2 compliant

Cut costs

Say goodbye to card interchange fees and high operational costs. And save time by automating manual processes like reconciliation or chasing late payments.
  • Account to account payments
  • Merchant account
  • Payments dashboard

How can I use VRPs?

  • Credit and lending

    Let customers set up flexible and secure repayment plans. And increase success rates by confirming availability of funds before taking a payment.
  • Savings and personal finance apps

    Vary the amount for automatic savings and investments based on your customer’s financial situation.
  • Current accounts

    Allow customers to automatically top up their current account when the balance is low to help them avoid overdraft fees.
  • On-demand economy

    Offer secure and high converting one-click checkouts and receive funds right away.
  • Proptech

    Automate rent collection to eliminate inefficient manual processes like maintaining rent schedules and chasing late payments.
  • Subscriptions

    Maximise payment success and retain your customers for longer with a payment method that doesn’t expire.
  • How your customers benefit from VRPs

  • More control

    Set maximum payment amounts, collection dates and a time limit on the mandate consent.
  • Full visibility

    See all existing mandates in one place and receive live notifications when payments are processed.
  • Less friction

    Authorise recurring payments just once with fingerprint of facial recognition — no need to enter any details manually.
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    Frequently asked questions

    Everything you need to know about VRPs

    Want to learn more?


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    Talk to one of our Payments experts