Social lender Moneyline has expanded its collaboration with Ordo to include Variable Recurring Payments (VRP), aiming to advance financial inclusion for lenders and borrowers.
As per the information detailed in the press release, Moneyline issued one of its first loans to be repaid leveraging VRP, a swift and secure method to collect recurring payments, which has decreased costs and is more manageable for collecting organisation and paying consumers. Initially, the company partnered with Ordo in 2021 for Request to Pay Open Banking services and, building on that collaboration, Moneyline now included the firm’s VRP solution, allowing loan repayment collection for both lender and borrower.
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