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

## Pay by Bank is packed with benefits

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### 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.

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### Lower costs

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

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### Support compliance

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

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### Minimise fraud

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

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### 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.

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### 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](https://media.token.io/use-case-library).**

## You‘re always in control

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### Customise

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

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### 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.

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### 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

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### 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.

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### 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.

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

## Pay by Bank for other industries

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

## Recent awards

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### Merchant Payment Ecosystem Awards

Winner: Best Open Banking / A2A Payment Solution 2026

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### Juniper Research Future Digital Awards

Winner: Best A2A Payments Platform 2025

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### Open Banking Expo Awards

Winner: Best Open Banking Payment Project 2025 - Consumer