Token.io Expands Pay by Bank with UK's First New Payment Scheme in Nearly 20 Years

Gain an edge with verified bank account data

Account balance

Reduce failed payments by easily verifying bank account balances in real-time. Enhance user experiences by displaying balances from multiple accounts in one place.

Account verification

Instantly verify bank account ownership to prevent fraud and make onboarding as fast and seamless as possible.

Transaction history

Instantly retrieve transaction records for more accurate spending pattern and affordability assessments. Give users more control by showing recent transactions across accounts in one place.

PAY BY BANK INFRASTRUCTURE

Powering leading Pay by Bank schemes and unrivalled open banking connectivity.

Unlock a world of potential

Smarter payments

Instantly check account balances to minimise failed payments.

Smarter lending

Check account balances and transaction history for smarter lending and affordability assessments.

Faster setup

Instantly autofill account names and numbers. Reduce misdirected payments and make direct debit setup faster and easier.

Smoother payouts

Eliminate penny checks and manual processes. Automatically verify account ownership before making an instant payout.

Streamlined onboarding

Up to 50% of new users abandon onboarding due to friction. Instantly source identity data and verify bank account ownership for faster, easier KYC checks.

Explore data uses cases in our Use Case Library.

We cover all the bases

Powerful infrastructure

One API integration gives you access to our complete infrastructure, including self-service dashboard.

Unmatched access

Securely access user-permissioned data for 90% of bank accounts in most of our 21 supported markets.

Payouts & refunds

Fully automated, API-driven payouts and refunds to GBP and EUR bank accounts, with real-time status updates.

Self-serve dashboard

Access meaningful reporting, customisation, configuration and hierarchy management options.

Built for scale

Our platform and service have the scale to suit the world’s largest banks, fintechs, platforms and payment companies.

Flexible licensing

Use our conversion-boosting Hosted Pages for consent capture and you can go to market faster under our AISP licence (UK/Europe).

Cutting-edge products

  • PAYMENTS
    Industry-leading Pay by Bank solutions](/content/payments/index.html)
  • VRP
    One-click, recurring and automated bank payments](/content/variable-recurring-payments/index.html)

Pay by Bank for your industry

Our Pay by Bank solutions can solve key challenges in your industry.

  • Banking](/content/industries/industry-bank/index.html)
  • Payments](/content/industries/payments-industry/index.html)
  • Fintech & Financial Services](/content/industries/fintech-financial-services-industry/index.html)
  • Ecommerce](/content/industries/ecommerce/index.html)
  • Crypto](/content/industries/crypto/index.html)
  • iGaming](/content/industries/igaming/index.html)

Recent awards

Merchant Payment Ecosystem Awards

Winner: Best Open Banking / A2A Payment Solution 2026

Juniper Research Future Digital Awards

Winner: Best A2A Payments Platform 2025

Open Banking Expo Awards

Winner: Best Open Banking Payment Project 2025 - Consumer

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