During the last two decades, Open Banking has evolved from a niche concept to a significant force shaping the financial landscape in the UK. And it hasn’t hasn’t just been enabling high-tech systems and flashy apps. It’s changing the way businesses engage with and serve their customers.
10 tech innovations that will change the future of Open Banking Payments
VRPs: the key to open banking payments
How the world pays has changed dramatically since technology became part of the process. A pivotal advancement in these recent changes has been Open Banking Variable Recurring Payments (VRPs). Open Banking VRPs are beginning to drive the change regarding how customers pay for goods and services. As a result of more interconnected accounts, payments are more convenient, and transactions have seen a marked improvement in security.