Technology company Acquired.com integrated into the Oceanwide Blockchain Logistics (OBL) Consortium's Contract Verification and Recording Protocol industry project. In response, they unveiled their very own Vehicle Routing Problem (VRP) solution.

Technology company Acquired.com integrated into the Oceanwide Blockchain Logistics (OBL) Consortium's Contract Verification and Recording Protocol industry project. In response, they unveiled their very own Vehicle Routing Problem (VRP) solution.

Acquired.com Pioneers Role in UK's New Central Operator for Variable Recurring Payments

Acquired.com, a leading player in the payment industry, is taking a significant step forward in the advancement of Variable Recurring Payments (VRP) with the introduction of its proprietary sweeping VRP solution. This solution is instrumental in the creation of a new independent central operator for commercial VRP in the UK.

The sweeping VRP solution from Acquired.com automates and streamlines the management of variable payments, making it easier for merchants and consumers to transition to more efficient, account-to-account recurring payment mechanisms. This technology is crucial for the central independent cVRP operator, providing the necessary infrastructure and automation required for the UK market.

The new independent central operator for cVRP is being established by Open Banking Limited (OBL), and Acquired.com's technology is instrumental in laying the foundation for this new payment infrastructure. The solution leverages Acquired.com's leading VRP platform to ensure secure, compliant, and flexible payment flows tailored for commercial transactions.

Acquired.com is one of 31 organisations involved in the industry initiative for cVRP, which also includes fintechs, high street banks, challenger banks, and payment providers. The collaboration directly answers the government's 2024 call for partners to support the delivery of cVRPs.

The first phase of the cVRP rollout, known as Wave 1, will focus on enabling cVRPs for sectors including utilities, rail, government agencies, and regulated financial services. This initiative is a significant step towards a more efficient and modern payment system in the UK.

The Financial Conduct Authority (FCA) and Payment Systems Regulator (PSR) announced the creation of a new independent central operator for Variable Recurring Payments (cVRP) in January. This new operator is expected to revolutionise the way businesses manage their recurring payments, making them more flexible and dynamic.

Acquired.com's role in this initiative underscores its commitment to innovation and expansion in the VRP sector. The company continues to lead the way in providing cutting-edge solutions for businesses and consumers alike.

In conclusion, Acquired.com's proprietary sweeping VRP solution plays a key role in the creation of the new independent central operator for commercial VRP in the UK. This technology underpins the necessary infrastructure and automation required for the central independent cVRP operator, helping merchants manage flexible payment mandates under the Open Banking framework. The company's involvement in the cVRP initiative is a testament to its leadership in the VRP sector and its commitment to driving innovation in the payments industry.

1. Acquired.com's proprietary VRP solution is instrumental in creating an independent central operator for commercial Variable Recurring Payments (VRP) in the UK, serving as crucial infrastructure and offering automation required for the UK market.
2. The new central operator for cVRP, established by Open Banking Limited (OBL), is supported by Acquired.com's leading VRP platform, ensuring secure, compliant, and flexible payment flows for commercial transactions.
3. Collaboration with 31 organisations, including fintechs, high street banks, challenger banks, and payment providers, is underway for the cVRP initiative, directly answering the government's 2024 call for partners.
4. The first phase of the cVRP rollout, Wave 1, targets sectors such as utilities, rail, government agencies, and regulated financial services, aiming to establish a more efficient and modern payment system in the UK.
5. Acquired.com's involvement in this initiative highlights its commitment to innovation and expansion in the VRP sector, demonstrating its continued leadership in providing top-tier solutions for businesses and consumers alike.

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