Build the future of recurring payments with Plaid
Variable Recurring Payments (VRP) allow users to authenticate once, and then make future payments without the need for additional authentication. VRP is an extension of our payment solution that powers one-off or recurring transactions into bank accounts across a wide range of industries, from Fintech to eCommerce.
We offer this as a standalone services. But it works best with our Verification and Data solutions, and our full range of payment options including instant refunds.
VRP product features
End users have the option to enable or revoke VRP consent at any time
Plaids flow is built for conversion and allows users to make payments without the need to re-authenticate
No need to wait for funds to settle; Variable Recurring Payments settle instantly and in real-time
Strong customer authentication (SCA) is used directly with banks, reducing unauthorised consent
Reduce customer churn
Cards on file often expire, get lost or stolen. VRP solves this problem
Avoid hefty card processing fees, chargebacks and reversals
Setting VRP parameters
Use Plaid’s advanced payment consent to allow users to set the relevant recurring payment parameters.
Connect bank accounts
Accept payments from any bank
We are everywhere your customers are. They can authenticate securely in their banking app.
One click payments
Once your customers have given permission, providing payments is as easy as pressing a button.
VRP Use cases
Automated financial goals
End users set financial goals, personal finance management applications then automatically transfer funds from other accounts to help end users reach those goals.
One click payments
End users authenticate once, then they can use VRP for one click payments that settle instantly.
Smart repayments for loans, overdrafts or credit cards
VRPs can be used to help with overdrafts and loans. This will allow users to automatically pay off their outstanding overdraft in one account from another account with a positive balance.
VRPs can encourage savings, whereby VRP helps to automatically move excess funds from one account to a high interest savings account.