About this episode
In this episode of It's A Numbers Game, hosts Adam Morris and Daniel Welling discuss the future of payments with open banking expert Kevin Ludford. The conversation delves deep into the advancements and benefits of variable recurring payments (VRP) for managed service providers (MSPs). Kevin explains the transformation occurring in payment collections, particularly the shift from traditional direct debits to VRP, which offers faster, more secure transactions and improved cash flow for businesses. They also discuss the implications of these changes, the reduced friction for both businesses and consumers, and the key advantages such as instant payments and reduced fraud. The discussion extends to industry-specific applications and the potential broader impact of open banking globally. 00:00 Introduction to the Future of Payments 02:24 Understanding Open Banking 04:35 Variable Recurring Payments (VRP) Explained 07:29 Global Adoption and Future Prospects 20:24 Mentoring Services for MSPs 22:24 Practical Applications and Benefits of Open Banking
