Categories
A variable recurring payment (VRP) is an Open Banking payment method that lets a customer authorise payments within rules they set, such as a maximum amount, a frequency or a minimum balance threshold. Unlike standing orders or Direct Debits, VRPs can flex around the customer’s circumstances, making them well suited to automated savings, loan repayments and moving money between a customer’s own accounts. At Moneyhub, VRPs are also known as Smart Payments.
share