UK-based A2A payments provider GoCardless has rolled out Variable Recurring Payments, enabling financial providers to prepare for CMA as the ‘sweeping’ approaches. This means GoCardless’ ‘Instant Bank Pay’ feature will now support one-off and recurring transactions through open banking.

Developer docs are live and a sandbox will be unveiled in the coming weeks for merchants to test their VRP readiness as banks begin to introduce the new technology to the public. The news comes as Pillar, a fintech platform breaking down credit borders, becomes an early adopter to choose GoCardless to support its payments for a new and more inclusive era of credit across the globe. Pillar is developing a new global financial platform which will provide immigrants with access to credit products when moving to a new country.

By offering VRPs as a key part of its payment functionality, Pillar will provide customers greater control over their finances through the ability to set payment parameters and make and cancel recurring payments instantly. Customers will also enjoy a more seamless payment experience: VRPs enable them to authenticate recurring payments with a single click, eliminating the need to re-authenticate or re-authorise every transaction. .