The ultimate guide for building the future of recurring payments

1 min read|Published March 20, 2024

Variable Recurring Payments, powered by open banking, have huge potential for merchants and consumers in the UK. Scroll down to download our VRP guide to find out how they work and why they are important.

The potential for VRP to change the face of consumer payments as we know it, is real. The Open Banking Implementation Entity (OBIE) completed its consultation phase on VRP and Sweeping three years ago. Since then there’s been quite a lot happening, and things are starting to get exciting.

In this guide we get to the heart of what exactly VRP is – and how it’s different to the recurring payments already in use – as well as hearing from Tink’s Andrew Boyajian, one of the leading industry voices on this topic.

More specifically, you will learn about:

How VRPs work (and where they’ve come from)
The difference between sweeping VRP and commercial VRP
The issues faced by consumers and how merchants can solve for them
Commercial VRP vs. direct debits
Use cases, including smart meter billing
The future and industry development

CategoryProductTagsUser experience Payments

More in Product

This image depicts a person's hand holding a phone which displays a confirmation screen saying 'Payment successful'.

2024-09-18

14 min read

Connecting the dots: how UX optimisations are driving success rates

We’ve previously explored small tweaks that get big results in open banking conversion rates. This deep dive drills further into how to reduce friction – and improve success rates through a fresh round of incremental changes in our UX.

2024-08-05

5 min read

Feature update: Savings Goals elevates your money management experience

Reaching financial goals can be daunting – so we’ve updated Savings Goals, a feature of Tink Money Manager designed to help banks empower customers to proactively save and achieve financial wellness.

2024-07-17

2 min read

Banking on engagement

This Tink white paper introduces new consumer and retail banking executive research from key European markets, setting the scene for banks to take the next step with Personal Finance Management (PFM).