UK’s NatWest Group to Offer Variable Recurring Payments

NatWest Group has entered agreements with three payment providers – TrueLayer,GoCardless and Crezco – in order to offer Variable Recurring Payments (VRP) as “a new and convenient payment option for businesses and consumers.”

This “industry first” means that NatWest Group will be the first UK bank “to go beyond the requirement for banks to provide VRP in support of ‘sweeping’ – the automatic transfer of money between two accounts belonging to the same person.”

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