Industry stakeholders are invited to have their say on Variable Recurring Payments (VRPs) and the future of payments in the fourth annual Open Banking Expo and Token.io industry survey.
The 2024 industry survey, which is completely anonymous, is now open to senior professionals from UK and European banks, merchants, payment service providers, gateways, acquirers and TPPs.
This month, the Payment Systems Regulator (PSR) published its response to a call for views on the expansion of VRPs in the UK which addressed key areas, including a multilateral agreement (MLA), mandated participation and API pricing.
The PSR intends to share a set of updated proposals for stakeholder comment in the Autumn and, at the same time, will publish a draft cost-benefit analysis to accompany these proposals.
At the end of last year, the VRP Working Group issued several recommendations as part of a blueprint, one of which was that a non-sweeping VRP pilot should be live by the third quarter of 2024.
Last year’s VRP industry survey conducted by Open Banking Expo and Token.io indicated increased appetite among merchants for VRPs, although limited bank coverage was identified as a barrier to further adoption.
This year, a new streamlined survey design personalises the experience for respondents to make it faster and easier to complete in 5-7 minutes.
The survey will run until 11 September and the findings will be published in a survey report this Autumn.
Respondents will be given the option to receive early access to a complimentary copy and will also be eligible to be entered to win an all-access pass to Open Banking Expo UK and Europe this October in London.
Have your say – complete the survey here.
Find out more about the agenda and speaker line-up at Open Banking Expo UK & Europe 2024, which takes place on 15-16 October at the Business Design Centre.
