NatWest launches VRP for non-sweeping customers

NatWest has announced the launch of Variable Recurring Payments (VRP) for ‘non-sweeping’ customers.

The bank said that it was the first to offer the payments option, which enables the automatic transfer of money between two accounts belonging to the same person, for a non-sweeping use case.

NatWest says the new service allows payment providers to give businesses a new option for managing customer payments for a range of services, including utility bills, subscriptions and charitable donations.

“As a relationship bank for a digital world, we’re committed to offering innovative and convenient payment methods to businesses and consumers,” said Daniel Globerson, head of bank of APIs at NatWest Group. “We’re delighted that our customers are now experiencing the benefits of VRP, and we’re proud to see organisations such as Charity Right using VRP to manage charitable donations.”

GoCardless and TrueLayer are some of the first payment providers to sign agreements with the bank to offer VRP as a new payment option.

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