Variable recurring payments. Empowering the customer through open banking payments
Using built-in rules, move money between accounts for better cashflow and improved customer control over when a payments is made.
Providers can safely connect their bank account to their customer’s to make a series of payments within an agreed set of parameters.
Customer have more control over the timing of payments as well as the amount which creates more transparency than existing regular payment alternatives.
Sweeping VRPs
Move money in between two of one’s own accounts. This has the potential to be a replacement for Direct Debit or holding a ‘card on file’ with a Continuous Payment Authority.
Non-Sweeping VRPs
Use non-sweeping or commercial VRPs, to offer an alternative to Direct Debit which is embedded into a wider range of customer journeys. It has countless applications, including utilities, subscription services, retail and financial institutions.
Utilities
Automate variable payments for gas, electricity and water
Saving and loans
Move surplus money automatically between a customer’s current and savings account or credit card for better financial wellbeing
Subscriptions
Customer can set a time limit to cancel a trial after amount of months in order to avoid subscription traps
Save money & achieve better customer outcomes
Overcome costly Direct Debit failure rates and a growing customer resistance to the use of Direct Debits.
Protect against insufficient funds through responsive money transfers
Offer your customer greater choice and lower transaction costs
The timing and amount of each payment is not fixed which offers more control and transparency than existing regular payment alternatives.
Fast and straightforward setup
