The future development of Open Banking payments

Open Banking payments can drive greater payment choice for customers and merchants, and are increasingly playing a bigger part in the payments world.

This report focuses in particular on Variable Recurring Payments (VRPs) – which offer a new way to make regular payments. It explores how variable recurring payments could be enabled commercially through a multi-lateral framework that provides for standardisation and a consistent customer experience. The report explores the upsides and downsides of such a framework and how it could be taken forward.

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