Variable Recurring Payments (VRP)
Variable Recurring Payments (VRP) are Open Banking payments that let a customer authorise a provider to move money from their account automatically within agreed limits. Unlike Direct Debit, VRP uses real-time rails and gives the payer granular control over amount and frequency caps.
VRP can collect variable amounts (for example actual balance owed) on a schedule the customer has consented to, with per-payment and total limits. Commercial VRP (cVRP) extends this to business and lending use cases beyond sweeping between a customer's own accounts.
For lenders, VRP offers a faster, more flexible and often cheaper alternative to Direct Debit for repayments and top-ups.
Credit Canary builds variable recurring payments into one platform for UK lenders, with the data and decisioning behind it.
Payment ManagementSee variable recurring payments in a working platform
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