GoCardless Highlights Legacy Payment Issues, Promotes VRPs as Solution for UK Businesses
GoCardless, a bank payment company, has released a report indicating that outdated payment systems are significantly hindering UK businesses, costing them an average of 3.5% of their monthly revenue. The report, based on a survey of 489 UK recurring revenue business leaders, reveals widespread dissatisfaction with traditional card payments, with 73% of respondents experiencing ongoing issues. To address these challenges, the industry is looking towards the introduction of commercial Variable Recurring Payments (VRPs), also known as Recurring Pay by Bank. This new technology, currently in its 'Wave 1' rollout, is expected to reduce operational costs, improve cash flow, and enhance customer satisfaction. 
