Commercial VRPs: What do your customers think?

Commercial variable recurring payments (cVRPs) represent the biggest update to the UK’s payment landscape in a generation. Powered by open banking, businesses will be able to collect recurring payments with greater automation, flexibility, and speed than ever before.

Business appetite is clear. Our research shows 49% of leaders expressed interest in becoming early adopters, and 91% see cVRPs as a key way to save on payment costs.

But what do your customers think? Are they ready for the innovation that cVRPs will bring?

We asked them directly. We conducted research with 2,000 consumers to find out their openness to commercial VRPs and what they look for in new payment tech.

Download the report: Revolutionising recurring revenue: The strategic opportunity of commercial VRPs

Consumers are ready to adopt commercial VRPs

Merchants aren’t the only ones eager to change. Our research found that consumers are also ready to embrace the benefits of commercial VRPs. When presented with the concept, nearly four in 10 (38%) say they would be open to adopting the new technology.

Appetite is even stronger with younger audiences. For Gen Z (those aged 18–27), that figure rises to six in 10 (60%). It’s clear that there’s not just awareness, there’s an appetite among your customers.

Consumers see the value of commercial VRPs in real-life settings

Beyond openness, consumers can already see real-life applications for everyday transactions such as energy bills or insurance payments. These are a key part of the Wave 1 use cases.

Nearly half of respondents (46%) say they would use the technology for energy bills, with significant interest in telecoms (35%) and insurance (27%).

Wave 2 will open up use cases even further, and consumers are already showing interest. Thirty-eight percent of respondents indicated they are open to using cVRPs to pay for streaming services. 

Consumers want security, flexibility, and control

We asked the same cohort about their primary motivations for using new payment technology. They ranked security, control, and potential discounts as key factors for adoption.

Take the first-mover advantage

The research shows that consumers aren't just open to new technology, they can already see how commercial VRPs might fit into their daily lives for bills, insurance, and streaming. Their motivations—security, flexibility, and control—align perfectly with what commercial VRPs will deliver.

Your customers are ready. The technology is here. It’s time to take the first-mover advantage before your competitors do.

Download the report: Revolutionising recurring revenue: The strategic opportunity of commercial VRPs