Posts Tagged ‘variable recurring payments’
JROC launches VRP and future entity working groups
The Joint Regulatory Oversight Committee has set up “dedicated workstreams” to kickstart work on the six key themes outlined in its recommendations for UK Open Banking.
Read MoreUK retailer Topps Tiles implements instant bank transfers with TrueLayer
The partnership sees Topps Tiles become the first major UK retailer to offer Open Banking as an in-store payment option.
Read MoreMarion King: JROC’s Open Banking report ‘secures the future’ of UK’s ‘thriving ecosystem’
Token and GoCardless CEOs also welcomed the prioritisation of non-sweeping variable recurring payments by JROC.
Read MoreJROC sets out recommendations for next phase of UK Open Banking
The Committee has published a roadmap and framework to ensure Open Banking becomes “a UK success story”.
Read MoreNatWest’s Mike Elliff says ‘further education’ on Open Banking payments needed among merchants
Meanwhile, Stephen Wright of NatWest’s Bank of APIs warns that UK is “at risk of stalling” following completion of Open Banking Roadmap.
Read MorePlend selects GoCardless to introduce variable recurring payments
GoCardless’ ‘Instant Bank Pay’ feature will enable Plend to offer VRPs to customers.
Read MoreDebt detection app SuperFi to ‘harness power’ of VRPs via TrueLayer
By teaming up with TrueLayer, SuperFi’s users will have a “more reliable approach” to repaying debt, as UK households struggle with the rising cost of living.
Read MoreUK government and regulators need to take ‘decisive action’ after release of SWG’s final report
The publication of the Open Banking SWG’s report to JROC also revealed need for industry to work together to “unlock” potential of VRPs.
Read MoreTrueLayer and Incredible ‘pioneer’ VRPs for credit repayments
TrueLayer’s Nick Tucker called variable recurring payments for sweeping “a step change for debt management”.
Read MoreFeature: What Open Banking trends will emerge in UK and Europe in 2023?
Tink, Finastra, Pleo and FIS make predictions for fintechs, lending decisions, Open Banking-powered payments and embedded finance in 2023.
Read More