We’re excited to be listed among the 31 organisations committed to funding the new industry-led entity for the next evolution of Variable Recurring Payments. This represents a significant step forward in bringing the initiative to life, and we’re thrilled to be working alongside such a strong coalition of Fintechs, banks, and payment providers.
This new payment capability has the potential to transform how consumers manage recurring payments, offering them greater control and flexibility compared to traditional Direct Debits or card-on-file arrangements. The proposed Wave 1 use cases spanning utilities, rail, government agencies, and regulated financial services will provide immediate value to both businesses and consumers.
We’re looking forward to seeing this industry collaboration accelerate the delivery of these enhanced payment capabilities and unlock the next phase of innovation in the payments landscape.
The collaborative spirit of the open banking ecosystem continues to be one of its greatest strengths, and we’re eager to help drive this initiative forward with the pace and ambition it deserves.
