For years now, fintechs and new digital banks have been taking market share from the big incumbents that are still held back by high-cost and inefficient legacy technology.
But a helping hand from the regulators may have pushed the big banks ahead in what could become a key innovation in the era of open banking: variable recurring payments (VRPs).
VRP is a new form of regular payment that does not entail the repeated authorizations and two-factor authentication required by merchants that hold credit cards on file.
Access this research
Enter your work email address to sign in or check whether your organisation already has access to Euromoney.
