Fena - Variable Recurring Payments

Variable recurring payments for sweeping

Boost your recurring revenue with seamless, secure payments. Our API empowers faster, more efficient “me-to-me” transactions.

Explore our API or get in touch to learn more.

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Node.js

PHP

vrp.api

const jwt = require('jwt-simple');

const payload = {

iat: currentUnixTimeStamp,

exp: tokenExpiryTime,

terminalId: terminalId(),

authority: 'HouseRoot',

amount: amount,

email: '',

firstName: '',

lastName: '',

bankBIC: '',

sortCode: '',

accountNumber: '',

};

const jwtToken = jwt.encode(payload, terminalSecret, 'HS512');

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What are Variable recurring payments (VRPs)

Variable Recurring Payments (VRPs) are a new type of payment

instruction that allow customers to safely connect authorized

payments providers to their bank account. This lets those providers

make payments on the customer's behalf, within agreed limits.

Variable Recurring Payments (VRPs) are a new type of payment instruction that allow customers to safely connect authorized

payments providers to their bank account. This lets those providers make payments on the customer's behalf, within agreed limits.

Think of it as a more flexible and secure way to manage recurring

payments. You're essentially giving permission to a third party to take

varying amounts of money from your account at regular intervals, but

you remain in control by setting the rules.

Think of it as a more flexible and secure way to manage recurring payments. You're essentially giving permission to a third party to take varying amounts of money from your account at regular intervals, but you remain in control by setting the rules.

Why VRPS

Key features of Variable Recurring

Payments

Key features of Variable Recurring

Payments

Key features of Variable Recurring

Payments

Variable Amounts

Unlike standing orders where the amount is fixed, VRPs allow for

payments of different amounts each time. This is useful for

subscriptions where the cost fluctuates, like utility bills or gym

memberships.

Unlike standing orders where the amount is fixed, VRPs allow for

payments of different amounts each time. This is useful for

subscriptions where the cost fluctuates, like utility bills or gym

memberships.

Dynamic

Flexible

Adaptive

More Control

You have greater control over your payments. You set

the limits on how much can be taken and how often,

and can easily change or cancel the agreement at any

time.

You have greater control over your payments. You set the limits on how much can be taken and how often,

and can easily change or cancel the agreement at any time.

Increased Transparency

You'll receive notifications and updates about

upcoming payments, giving you full visibility and

peace of mind.

You'll receive notifications and updates about upcoming payments, giving you full visibility and peace of mind.

Enhanced Security

VRPs are built on open banking technology, which uses strong

customer authentication and secure APIs to protect your data and

prevent fraud.

SCA

OAuth2

PSD2

TLS 1.3

The Landscape

There are two main types of VRPs:

Sweeping VRPs

These are currently available and designed to move money

between your own accounts, for example, automatically

transferring funds from your current account to a savings account.

Self-to-self · Same name accounts

AVAILABLE NOW

Commercial VRPs

These are expected to be rolled out soon and will allow businesses to collect payments for goods and services. This could be a game- changer for subscriptions, recurring bills, and online purchases.

B2C · Subscriptions · One-off payments

COMING SOON

VRPs offer a range of benefits for both consumers and businesses. For consumers, they provide more control, flexibility, and transparency over recurring payments. For businesses, they can reduce costs, improve efficiency, and enhance customer relationships.

Build for Sweeping

Why to try VRPs

Why to try VRPs for sweeping?

for sweeping?

Save more and pay less with automated sweeping. This innovative payment technology lets you effortlessly move money between your accounts, maximizing your savings and minimising debt.

Who is it for?

eMoney Institutions

Banks

Fintech

Loan and credit firms

Investment platforms

Building societies

[COMING SOON]

Commercial VRPs

VRPs outside of sweeping will be released in 2025

Commercial VRPs and its use cases

Direct Debits (alternative)

Card on file (alternative)

Subscription payments

B2B accounts payable

Instant one-off payments

Recurring ad hoc payments

Don't miss out on this unrivalled opportunity!

Commercial VRPs are coming

soon!

Commercial VRPs are coming soon!

If you are interested in, please join the waiting list below

Join the waiting list

We are eager to help you

We are eager to help you