Industry survey: Open Banking Expo and Token.io invite views on Dynamic and Variable Recurring Payments

Open Banking Expo and Token.io are inviting responses to their third annual Dynamic and Variable Recurring Payments (VRPs) industry survey.

Professionals from across the payments and finance industry, including banks, TPPs, payment providers and merchants in the UK and Europe, are invited to participate in the 2023 industry survey, which is now open.

In 2021, Token.io and Open Banking Expo ran the first-of-its-kind industry survey on VRPs.

This year, we want your views on the benefits and downsides of different types of recurring payments, compelling use cases, and the potential for regulatory intervention.

In April, the Joint Regulatory Oversight Committee (JROC) published its recommendations for the next phase of Open Banking in the UK, including unlocking the “potential” for Open Banking payments.

Then, in June, JROC launched a VRP Working Group which is chaired by the Payment Systems Regulator (PSR). It has been tasked with developing a blueprint for the implementation of non-sweeping VRPs by the end of September 2023, with a view to a phased rollout of non-sweeping VRPs before year-end.

The survey, which takes a few minutes to complete, will run until 18 September and the findings will be published in a survey report this Autumn.

Respondents will be sent early access to a complimentary copy – complete the survey here.

Catch Todd Clyde, Token.io’s chief executive officer at this year’s Open Banking Expo UK and Europe on 18-19 October in London.