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Thanks for the comment, Dinesh.

Financial institutions (FIs) can monetise VRPs by strategically aligning their offerings with business and consumer needs while leveraging the flexibility and scalability of open banking frameworks. For businesses, FIs could introduce tiered subscription models, charging merchants for access to basic, premium, or bespoke VRP services. These tiers might include essential features like payment automation, advanced analytics, and fraud detection. Transaction-based fees could also provide a reliable revenue stream, with merchants paying a small percentage per successful transaction—a more cost-efficient alternative to traditional card payment fees but attractive at scale.

For consumers, FIs can embed VRP capabilities into premium banking services, offering tools like smart budgeting or dynamic overdraft protection. Partnerships with gig platforms, utility providers, or large-scale merchants present another lucrative avenue, enabling FIs to co-develop VRP-enabled payment solutions in exchange for revenue-sharing agreements. Additionally, FIs could monetise the anonymised, aggregated data generated by VRP transactions, selling valuable consumer insights to merchants or using them to enhance their own offerings.

By positioning VRPs as part of a broader ecosystem of value-added financial services—ranging from embedded lending to pay-as-you-go insurance models—FIs can unlock substantial new revenue streams. While the upfront investment in infrastructure is significant, the long-term potential is enormous, especially as open banking adoption grows globally, projected to generate $116 billion annually by 2026. By thinking beyond payments and embracing VRPs as a driver of financial innovation, FIs can turn compliance into opportunity while enhancing customer experiences and boosting profitability.