Firms agree to fund efforts to create new company to deliver the initial phase of work for commercial variable recurring payments
Open Banking
MAY 2, 2025
cVRPs are a pioneering new payment instruction, enabling consumers to limit the value of any payment from their account, offering a flexible alternative to Direct Debit and card-on-file payments. Consumers and businesses now make more than 27 million open banking-powered payments monthly, and this growth continues year-on-year.
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