Token.io, a provider of A2A payment infrastructure, has announced its expansion to Sweden, Norway, Finland, and Denmark, where it will offer its Account Information Services (AIS) and Payment Innovation Services (PIS) to customers. The expansion will also enable new opportunities for Payment Service Providers (PSPs), such as Paysafe, which has partnered with Token.io to deliver a seamless and secure A2A payment solution in Denmark.
A2A payment: How Paysafe benefits from Token.io’s expansion
A2A payment, or Account-to-Account payment, allows customers to pay merchants directly from their bank accounts without the need for cards or intermediaries.
Customers use their online banking to authenticate the transaction, which is then processed by the PSP using Token.io’s connectivity platform.
The payment is fast, secure, and cost-effective, as it reduces the fees and risks associated with card payments.
Paysafe, a leading payment platform that offers various solutions such as e-wallets, prepaid cards, and online cash, has expanded its coverage with Token.io to offer its customers and merchants a new payment option in Denmark.
Paysafe’s A2A payment offering (Pay by Bank) will allow users to pay merchants directly and safely from their bank accounts while using online banking to authenticate the transaction.
The purchase or account top-up will take place immediately and directly through the website or the merchant’s gateway.
In addition, the collaboration aims to contribute to the overall development of the European payments landscape.
Token.io’s recent partnerships and developments
Token.io has been actively partnering with various PSPs and merchants across different regions and sectors in order to deliver its A2A payment infrastructure and services.
Some of its recent collaborations and launches include:
- EchoPay: In August 2023, EchoPay, an A2A payments provider for wholesale merchants and traders in the UK, announced its partnership with Token.io to enable businesses to accept A2A transactions at the point-of-sale (POS). EchoPay’s A2A payment service could be installed on POS terminals as a custom tender, which allowed merchants to generate QR codes for customers to initiate an A2A payment directly from their mobile devices. Members of Unitas Wholesale, a UK independent wholesale buying group with more than 150 independent wholesale members, benefited from the solution.
- Total Processing: In July 2023, Total Processing, a payment processor that offers various solutions such as card processing, alternative payments, and fraud prevention, announced its collaboration with Token.io to deliver Open Banking-enabled payments to European customers and clients. Total Processing leveraged Token.io’s extensive connectivity network and platform to offer a fast and efficient way for payment providers to launch Pay by Bank as a core payment service.
Token.io’s recent partnerships and developments show its commitment to delivering its A2A payment solutions across different regions and sectors, aiming to improve the payment experience for both consumers and businesses.
