Variable Recurring Payments

Variable Recurring Payments (VRP) are a type of payment instruction that can be set up and used to make a series of future payments. VRP will allow bank customers to safely connect authorised Payment Initiation Service Providers (PISPs) to their bank accounts. PISPs can then make a series of payments on a customer’s behalf within agreed parameters, offering more control and transparency.

The functionality of the VRP API is as follows:

  • Stage a VRP Consent
  • Optionally confirm available funds for a VRP of a specified amount
  • Subsequently, submit the VRP for processing
  • Optionally retrieve the status of VRP Consents and VRPs

The VRP API in WSO2 Open Banking UK Toolkit supports the Domestic VRP Consents and Domestic VRPS resources.

The Domestic VRP Consents resource is used by a TPP to register a consent to initiate one or more of domestic payments within the control parameters agreed with the PSU. The toolkit supports the below-listed endpoints.

  • POST /domestic-vrp-consents
  • GET /domestic-vrp-consents/{ConsentId}
  • DELETE /domestic-vrp-consents/{ConsentId}
  • POST /domestic-vrp-consents/{ConsentId}/funds-confirmation

For more information, see OBIE - Domestic VRP consents.

Domestic VRPS

The Domestic VRPs resource is used by a TPP to initiate a domestic payment, under an authorised VRP Consent. The toolkit supports the below-listed endpoints.

  • POST /domestic-vrp-consents
  • GET /domestic-vrp-consents/{ConsentId}
  • DELETE /domestic-vrp-consents/{ConsentId}
  • POST /domestic-vrp-consents/{ConsentId}/funds-confirmation

For more information, see OBIE - Domestic VRPS

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