Variable recurring payments

On time, every time

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

Set your payment date
We’ll take the money every month on this date
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Recommended
Instant bank payment
Fast, safe and secure
Authenticate using your bank app
No need to enter your card details
Set up regular payment
Only connect accounts once
Secure and FCA-authorised
Set up complete
Your regular payment is ready

How can I use variable recurring payments?

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.

While direct debits and card payments can take up to five days to arrive, open banking VRPs settle in seconds — helping you stay on top of your cash flow.

  • Instant pay-ins
  • Real-time payment confirmation
Recommended
Instant bank payment
Fast, safe and secure
Authenticate using your bank app
No need to enter your card details
Set up regular payment
Payment conversion rate
Success
Authentication complete.
Hotel reservation
-£58.96
Car insurance
-£8.96
Money transfer
-£9.99
Flight refund
-£42.69
Train tickets
-£19.99
Payment successful
£500.00

Power up VRPs

Get more from variable recurring payments with our add-ons.

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, CIO, The Credit Thing

Colin Hollingsbee, CIO

Read case study

Experience the user journey

User wants to set up a regular payment

Welcome back, Julie
£600.00
£400.00 available to use
£1,000.00 credit limit
**** 1234
10/24
New payment is due
Choose how to repay your credit
Set up regular payment
Make single payment
Set up payment
Recommended
Instant bank payment
Fast, safe and secure
Authorise in your bank app
No need to enter details
Credit/Debit card
Payment amount
Minimum due
Total credit used
Payment date
10th of every month
change
Continue
Select your bank
Search your bank
Barclays
HSBC
Lloyds
Monzo
NatWest
RBS
Revolut
Santander
Give permission
Can we collect regular payments from your bank account?
You can cancel at any time
Secure and FCA-authorised
Only connect your account once
By clicking “Allow” you permit us to initiate a payment form your bank account. You also agree to our Privacy Policy and End User Terms of Use.
Allow
All done
You’ve set up your regular payment
Amount
Minimum due
Date
10th of every month
Done

How 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.

Integration toolkit

Everything you need to build faster with TrueLayer.

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Payment UIs

Optimise conversion with our plug-and-play embedded payment page and hosted payment page.

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Platform plugins

Add bank payments to your online shop with our WooCommerce and Magento plugins.

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Mobile SDKs

Build a smoother mobile payments experience with SDKs for iOS, Android and React Native.

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Libraries

Explore our backend libraries in Java, PHP, C# and Javascript/Node.

Go to docs

Explore TrueLayer for your industry

Get started

Talk to us

Our teams are on hand to advise and answer your questions.

Start building

Create an account now to explore our APIs.

Sign up

FAQs

They offer a new way to initiate recurring payments and move money securely — all powered by open banking. VRPs are faster and more cost-effective than direct debit or card-on-file transactions.

Want to learn more about VRPs?

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23 Nov 2022

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8 Dec 2022

3 lessons for VRP in 2023

It’s been a big year for the development of variable recurring payments. Product leaders from Chip, Curve and iwoca tell us why and explain what's to come.
Iconography of a recurring payment
26 May 2022

Annual vs monthly subscription billing schedules

Find out everything you need to know about annual and monthly subscription billing schedules, the pros and cons and how to utilise both of them.
Phone UI showing a user set up a recurring payment
13 Sep 2022

Can VRP help UK consumers avoid subscription traps?

As consumers weather the cost-of-living crisis, unwanted subscriptions are becoming a costly annoyance. Could VRP offer some much-needed relief?