Yapily, an open banking solutions provider, has launched a variable recurring payments (VRP) product.
In Brief:
Variable recurring payments enable payments of varying amounts to be made without reauthentication.
This is enabled by Yapily through open banking.
Its first customer is one-click payments platform Volume.
What does this mean?
Yapily will look to work with large bank in the UK as they have been mandated by the regulator to introduce VRP. As its first customer, Volume says VRP “has the potential to be transformative for any business”.
