Payment processor Total Processing has announced a partnership with A2A payment infrastructure provider Token.io to offer Open Banking-enabled payments to European customers. Having a goal of providing the latest technology to its merchants, Total Processing is set to leverage Token.io’s extensive connectivity network and strong platform which offers a fast and efficient way for payment providers to launch Pay by Bank as a core payment method.

Total Processing – Token.io partnership details and Pay by Bank capabilities Facilitated by Open Banking, Account-to-Account (A2A) payments (‘Pay by Bank’) provide a fast and secure way to transfer money between bank accounts. Users authenticate directly with their bank, which helps ensure high success rates alongside a frictionless experience, whereas merchants are enabled to save costs and take advantage of instant settlement for improved cash flow. As per the press release information, Token.io’s A2A payment infrastructure is set to enable Total Processing to launch its own A2A payment capabilities to its merchants across various industries leveraging its gateway.

Having coverage of over 567 million bank accounts in Europe, Token.io offers high-performing connectivity for A2A payments, helping ensure simplified integration of the payment method across all channels and devices. A payment solutions provider, Total Processing looks to enable businesses to improve their payment workflows, decrease costs, and increase revenue. The company provides an array of payment processing services, including ecommerce, recurring payments, and alternative payment methods, such as ‘pay by link’.

Due to their speed and convenience, Open Banking-enabled payments have increased in popularity, with global volumes projected to grow from USD 53 million in 2023 to USD 334 billion in 2027, 86% of which would account for in Europe. When commenting on the announcement, Alex Leigh, Co-founder at Total Processing stated that integrating A2A payments into the company’s platform came as an important step in ensuring they stay up to date with the market and their customers’ needs. Chief Executive Officer at Token.io, Todd Clyde added that the company is looking forward to partnering with Total Processing and supporting its mission of offering frictionless payment experiences.

By leveraging the power associated with Open Banking, the company will offer Total Processing’s Europe-based customer secure, instant A2A payment capabilities. The announcement further highlights that the collaboration between the two companies marks a milestone within the payment industry, as Open Banking-enabled payment capabilities are more sought after due to their speed, security, and convenience. By combining Total Processing’s expertise in payment solutions with Token.io’s extensive Open Banking platform, merchants can benefit from improved payment experiences that help drive business growth.

For more information about Token.io, please check out their detailed profile in our dedicated, industry-specific Company Database. .