Total Processing partners with Token.io to launch open banking-enabled payments capabilities
Leading A2A payment infrastructure provider, Token.io, and award-winning payment processor, Total Processing, have teamed up to offer account-to-account (A2A) payments to European customers.
Facilitated by open banking, A2A payments (‘Pay by Bank’) offer a fast and secure way to transfer money between bank accounts. Users authenticate directly with their bank, ensuring high success rates and a frictionless experience, whereas merchants save costs and enjoy instant settlement for improved cash flow.
With a focus on delivering the latest technology to its merchants, Total Processing is thrilled to leverage Token.io’s extensive connectivity network and powerful platform, which provides the fastest and most-efficient way for payment providers to launch Pay by Bank as a core payment method.
Token.io’s A2A payment infrastructure will enable Total Processing to swiftly launch its own A2A payment capabilities to its merchants across various industries through its gateway. With coverage of over 567 million bank accounts in Europe (80%+ of bank accounts in each of its 16 supported markets), Token.io boasts the highest-performing connectivity for A2A payments, ensuring seamless integration of this payment method across all channels and devices.
Total Processing is a leading provider of seamless payment solutions, enabling businesses to streamline their payment workflows, reduce costs and boost revenue. The company offers a range of payment processing services, including e-commerce, recurring payments and alternative payment methods, like pay by link.
Open banking-enabled payments are rapidly gaining popularity due to their speed and convenience. Globally, volumes are projected to grow from $53 million in 2023 to $334 billion in 2027, with Europe accounting for 86% of that.
Alex Leigh, Co-founder at Total Processing said, “Integrating A2A payments into the Total Processing platform was an important move to stay up to date with the market and our customers’ needs.
As a trusted provider, Token.io was the ideal partner. We’re excited to say that Travis Perkins has already shown an interest and will be an early adopter of the solution.”
Chief Executive Officer at Token.io, Todd Clyde said: “We’re thrilled to partner with Total Processing and to support its mission of delivering frictionless payment experiences. By harnessing the power of open banking, we will empower Total Processing’s customers across Europe with secure, instant A2A payment capabilities.”
The collaboration between Total Processing and Token.io marks an important milestone in the payment industry, where open banking-enabled payment capabilities are increasingly sought after for their speed, security, and convenience. By combining Total Processing’s expertise in payment solutions with Token.io’s robust open banking platform, merchants can expect enhanced payment experiences that drive business growth.
About Total Processing
Total Processing is innovating the payments industry for businesses worldwide to become the most customer-focused company in its space.
It’s a leading provider for custom solutions across online and in-store channels enabling businesses to streamline their payment processing, reporting and risk aversion to create an end-to-end product.
With access to more than 300 acquirers, a secure gateway with 99.99% processing uptime and more than 198 alternative payment methods, Total Processing is providing a seamless service to increase approval rates and boost revenue for businesses worldwide.
Token.io’s A2A payment infrastructure is powered by open banking and built for the payments industry.
With the simplest and fastest way to launch Pay by Bank as a core payment method globally, Token.io helps payment providers grow their market share in the face of the continued shift from cards to APMs.
Token.io’s complete payments infrastructure offers the deepest and highest performing connectivity, reaching over 567 million bank accounts (80%+ of accounts per market) in 16 countries.
With fast and flexible deployment options, including the option to use Token.io’s license and conversion boosting payment authentication flows, payment providers can quickly and easily launch and manage Pay By Bank capabilities.
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