What Variable Recurring Payments Mean for You – And How VibePay Makes It Even Better

Open Banking in the UK is stepping up a gear, and it’s great news for everyone. Regulators are introducing an independent operator to oversee variable recurring payments (VRPs), which are set to transform how we all make payments.

At VibePay, we’re thrilled about this development because it means even more flexibility, control, and benefits for you – whether you’re running a business, selling online, or just want smarter ways to manage your money.

What Are Variable Recurring Payments?

Put simply, VRPs are a new way to set up recurring payments, like subscriptions or instalments, but with more control. Unlike direct debits, VRPs let you:

• Set limits on how much can be taken.
• Approve payments on your terms.
• Avoid surprises like unexpected charges.

It’s designed to give you more power over your money, and it’s quicker, cheaper, and more secure than traditional payment methods.

‍Why This Matters for VibePay Users

‍At VibePay, we’re already making payments easier by cutting out the middleman – no card networks, no fees, just direct bank-to-bank payments. With VRPs on the horizon, we see even bigger opportunities to help you manage payments in a way that suits you. Here’s how this fits into what we offer:

• More Control with Channels: Through VibePay Channels, you can already connect directly with businesses, creators, and sellers. With VRPs, imagine being able to set up subscriptions or recurring payments directly with a seller, all within your VibePay app. It’s simple, transparent, and puts you in charge.
• Fee-Free and Instant: Like everything on VibePay, VRPs won’t come with hidden fees. That means more money in your pocket – whether you’re paying for a fitness plan, supporting your favourite creator, or splitting costs with friends.
• Smarter Money Management: You’ll have the ability to track and manage recurring payments more effectively, all in one place.

A Big Win for the UK and Beyond

‍This move by UK regulators ensures that Open Banking – and tools like VRPs – benefit everyone, not just big businesses or traditional players. By introducing an independent operator, the system will remain fair and accessible, paving the way for even more innovation. At VibePay, we’ve always been about giving you more – more flexibility, more connection, and more freedom to handle your money your way. VRPs are just the latest way we’ll be helping you get the most out of your money, with the added simplicity and power of VibePay Channels.

‍What’s Next?

‍We’re working behind the scenes to bring this technology to life for you in exciting new ways. Whether you’re selling online, supporting a creator, or just want easier ways to handle your payments, VibePay will keep you ahead of the curve.Stay tuned for updates – and if you’re not already using VibePay, now’s the perfect time to start. Get ready for a future of smarter payments, built for you.