Last week our Sales Director, Peter Richmond attended the ‘Beyond Regulation: How Acquired.com is Accelerating Commercial VRPs with Visa’ breakfast panel. Here’s what he had to say about the event:

“Well worth the early start from Yorkshire to catch the 6.00am train to London on Thursday 22nd to attend the breakfast panel discussion at Visa offices in London; the discussion focused on unpacking what Visa A2A really means in practice for businesses – variable recurring payments (VRP) as a real alternative to Direct Debit. VRPs are an Open Banking feature offering flexible payments and greater control.

The panel of experts offered considered views and experience of how commercial VRPs are designed and how it compliments Open Banking with great conversations from the speakers and the Q&A session. Perspectives from Visa, Zopa Bank, Nationwide Building Society and Acquired.com gave useful information on what is required to scale and demonstrated the benefits of the VRP approach from speed of settlement to cost-to-collect through to the benefits and flexibility of recurring payments.

Topics covered included reliable infrastructure, viable commercial models and above all promoting trust for end customers (with VRP secured by Visa Trustmark); this looks like a real opportunity that I expect to see adopted across the sector.

Great opportunity to catch up with our partners and make new contacts; looking forward to attending more insightful industry events as the year progresses.”