Skip to content
Variable Recurring Payments RSS
HSBC first to launch UK Variable Recurring Payments (VRPs)
HSBC UK has launched sweeping Variable Recurring Payments (VRPs) to its personal and business customers that participate in or wish to use Open Banking services. VRP allows businesses and consumers... read more
The post HSBC first to launch UK Variable Recurring Payments (VRPs) appeared first on Payments Cards & Mobile.
CMA clarifies definition of Variable Recurring Payments for Sweeping
In July 2021, the CMA mandated the use of variable recurring payments (VRPs) as the mechanism for implementing sweeping under item A10 of the Roadmap (the July letter). In the... read more
The post CMA clarifies definition of Variable Recurring Payments for Sweeping appeared first on Payments Cards & Mobile.
Open Banking and Variable Recurring Payments (VRPs) – what’s next on the roadmap
The continued roll out of Open Banking is seeing its next major step forward as the nine largest banks in the UK (the CMA9) prepare for the implementation of Variable... read more
The post Open Banking and Variable Recurring Payments (VRPs) – what’s next on the roadmap appeared first on Payments Cards & Mobile.
UK Open Banking marks fourth year milestone with over 4 million users
January 13th marks the fourth anniversary of the Payments Services Directive 2 (PSD2) * making Open Banking a regulatory requirement in the UK. Open Banking (OB) was mandated by the... read more
The post UK Open Banking marks fourth year milestone with over 4 million users appeared first on Payments Cards & Mobile.
CMA mandates Variable Recurring Payments for Sweeping
The Open Banking Implementation Entity (OBIE) has announced that the Competition and Markets Authority (CMA) has upheld, in line with the Trustee’s recommendations to mandate Variable Recurring Payments (VRPs) as... read more
The post CMA mandates Variable Recurring Payments for Sweeping appeared first on Payments Cards & Mobile.
