Token.io provides an A2A payment infrastructure that utilizes open banking APIs to initiate payments and access data from over 567 million bank accounts across 21 European markets. This solution reduces transaction costs by 2-20 times compared to traditional methods while ensuring instant settlement and high success rates, enhancing cash flow and user experience for payment providers.
Funding
$90M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
+5Founders
Product
Problem
Traditional payment methods often involve high transaction costs, including scheme fees, interchange fees, and chargebacks. These methods can also suffer from lower success rates and delayed settlement times, impacting cash flow for merchants.
Solution
Token.io provides an A2A (account-to-account) payment infrastructure that leverages open banking APIs to initiate payments and access data from over 567 million bank accounts across 21 European markets. This solution enables payment providers to offer Pay by Bank as a core payment method, reducing transaction costs by 2-20 times compared to traditional methods. Token.io ensures instant settlement, improving cash flow, and delivers higher success rates through best-in-class connectivity. The platform securely authenticates payments directly with banks, eliminating the need for merchants to handle sensitive cardholder data and improving the user experience through seamless app-to-app redirection and biometric authentication.
Target Audience
Token.io primarily targets payment providers, banks, fintech companies, and e-commerce merchants looking to reduce payment processing costs, improve transaction success rates, and enhance the customer payment experience.
Features
- Access to over 80% of bank accounts in 21 European markets through a single API
- Lower transaction costs compared to traditional payment methods, eliminating scheme fees and chargebacks
- Instant payment settlement for improved cash flow
- Bank-grade security with secure authentication directly by banks
- Seamless app-to-app redirection and biometric authentication for an improved user experience
- Easier reconciliation of incoming funds compared to invoicing and manual bank transfers
- Variable Recurring Payments (VRP) for one-click, recurring, and automated bank payments
- Data solutions for smarter payments