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

Pay by Bank is packed with benefits

Increase deposits

Make your on-ramp a breeze with instant bank payments that settle in seconds. Nearly anyone with a UK or EU bank account can deposit with Pay by Bank.

Lower costs

Pay by Bank cuts processing and operational costs to a fraction of traditional payment methods.

Support compliance

Easily prove source of funds with deposits direct from verified bank accounts.

Minimise fraud

Eliminate penny checks and misdirected payouts. Automatically and instantly verify bank account ownership before you send a real-time payout.

Streamline 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.

No chargebacks

Eliminate the revenue losses, cashflow disruptions and operational burdens of chargebacks.

Pay by Bank makes deposits seamless.

Users authorise transactions directly with their bank via app-to-app redirection and biometric authentication. In some markets, a one-time setup unlocks one-click deposits for future convenience.

See Pay by Bank in action. Explore our Use Case Library.

You‘re always in control

Customise

Your exchange, your brand. Customise your payment flows to fit your needs.

Plug-n-play

Easily embed into any experience, channel or device. Effortlessly transition desktop to mobile using QR for faster authentication with fingerprint or face ID.

Licencing as a service

Use our plug-and-play payment flows and go to market faster under our licences (PISP/AISP, UK/Europe) for open banking.

Partner with a recognised market leader

A complete solution

One partner for the easiest access to leading Pay by Bank schemes, the broadest acceptance, highest conversions and fastest time to success.

Unrivalled acceptance

Reach more payers in more markets. Initiate payments to over 567 million bank accounts in the UK & Europe through our unrivalled Pay by Bank network.

Built for scale

Our platform and service have the scale to suit the UK and Europe’s largest crypto exchanges.

PAY BY BANK INFRASTRUCTURE

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

Cutting-edge infrastructure

Explore our 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 other industries



  • iGaming](/content/industries/igaming/index.html)


  • Ecommerce](/content/industries/ecommerce/index.html)


  • Fintech & Financial Services](/content/industries/fintech-financial-services-industry/index.html)


  • Payments](/content/industries/payments-industry/index.html)


  • Banking](/content/industries/industry-bank/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