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VARIABLE RECURRING PAYMENTS ARE HERE

Instant Bank Pay now supports recurring payments

Our open banking-powered feature, Instant Bank Pay, now supports recurring payments.

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Instant Bank Pay now supports recurring payments
Instant Bank Pay now supports recurring payments
Real time variable recurring payments
Real time variable recurring payments

Real time variable recurring payments

Instant Bank Pay now supports payments from your repeat customers. Combining the speed and security of open banking with the Direct Debit process your customers know and trust, Instant Bank Pay offers you instant confirmation and money in the bank when you need it. Imagine:

  • Ease of Direct Debit

  • Instant successful payment confirmation

  • Reduced chargebacks

  • Funds in your account up to 7x faster compared to credit cards

Seamless customer experience

If a customer’s bank isn’t Instant Bank Pay ready, then in the same payment flow your customer can seamlessly set up a Direct Debit instead. No added friction – protecting your checkout conversion.

Benefits of Instant Bank Pay for recurring payments

Faster settlements

Faster settlements

Funds move into your account up to 3x faster than Direct Debit and 7x faster than credit cards.

High payment visibility

High payment visibility

Bank payments with real-time confirmation for you and your customers.

Better payment management

Better payment management

Manage all of your one-off and recurring payments in one place to save admin time.

Optimise payer conversion

Optimise payer conversion

Frictionless authorisation that is highly secure, with no need to re-authorise payments.

Powered by Variable Recurring Payments
Powered by Variable Recurring Payments

Powered by Variable Recurring Payments

Variable Recurring Payments (VRPs) are a type of Open Banking API, meaning that they work by using Open Banking rails to connect banks to Third Party Providers (TPP), like GoCardless, in a secure and standardised way.

Functionally, they are similar to Direct Debit in that they enable recurring payments. However, unlike Direct Debit, with VRPs your customers authenticate their bank details right away, and straight from their online banking. To learn more about VRPs, check our blog here.

Forrester report: The future of payments
Forrester report: The future of payments

Forrester report: The future of payments

The world of payments has undergone a fundamental shift in the last decade, with the recognition that offline payment methods are not fit for purpose in a digital world.

But what comes next? How are VRPs creating much-needed simplicity for users? And how can the payments industry build a system that works for businesses and consumers alike?

Discover all this and more in this Forrester report with an exclusive introduction from GoCardless.

Get the full report

Find out more

  • Understanding VRPs and what they could mean for payments

    Learn more
  • Understanding the benefits of VRPs and sweeping

    Learn more
  • [Webinar] Unlocking the power of Variable Recurring Payments

    Learn more
  • Variable Recurring Payments: Reflecting back on taking the first payment

    Learn more
  • Variable Recurring Payment Q&A with GoCardless and Plum

    Learn more

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Register your interest

Receive updates, helpful insights and be the first to know when Instant Bank Pay’s recurring functionality is available for your business.