Launch: Payments industry survey on Variable Recurring Payments (VRP) and Sweeping
Together with our friends at Token, Open Banking Expo has launched the 2022 payments industry survey on Variable Recurring Payments (VRP) and Sweeping and we want your opinion!
The July 2022 deadline set by the Competition and Markets Authority (CMA) came and went. This meant that the largest UK current account providers had to implement VRPs and allow free access to third party providers who are using VRPs to enable their customers to move money from their current accounts to other accounts.
So, what’s hot? What’s not? What are the latest VRP use cases and is this Open Banking’s ‘panacea’ to make it more mainstream with consumers?
VRPs and sweeping present a major step forward in payments, giving consumers more control over their money and the products they use. This innovation is also the final piece of functionality to be delivered under the CMA’s Open Banking mandate here in the UK.
So… what are you waiting for? Boil the kettle, make a cuppa and spare five minutes to let us know your thoughts. Complete the survey HERE.
All findings will be published ahead of Open Banking Expo UK where Token’s chief executive officer, Todd Clyde, will be presenting the results to the UK’s Open Banking, Open Finance and Open Payments community.