Token.io Expands Pay by Bank with UK's First New Payment Scheme in Nearly 20 Years
A new way to pay with open banking
Why is cVRP a gamechanger?
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Boosts conversions
Enhance shopping experiences and boost conversions with VRP for instant 1-click bank payments. Offer a faster, smoother, and more user-friendly alternative to direct debit.
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Reduces churn
Eliminate late payments and reduce churn with automated, instant bank payments. No card expiry.
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Lowers costs
Eliminating intermediaries and running on open banking rails, VRP processing costs are substantially lower than card-on-file — and there are no chargebacks.
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Settles instantly
Settles in seconds to improve cash flow. Reduce cycle time with 24/7/365 processing.
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Minimises fraud
Every payment is authenticated directly with a bank, with SCA is seamlessly baked-in. Never share or store sensitive payment details.
Tap into a world of potential
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Bills & subscriptions
Increase on-time payments and give users more control with reliable, automated bank payments for electricity, gas, water, telecom and TV bills.
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Repayments
Eliminate late payments and boost customer satisfaction with automated credit card and mortgage payments that settle instantly. Reduce failed payments with automated, instant balance checks.
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Top-ups
Supercharge deposits to current accounts, pensions, investment and savings accounts with automated or one-click top-ups that settle in seconds.
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1-click ecommerce
Launching soon: Drive conversions with seamless 1-click instant payments for an unmatched shopping experience.
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Train tickets
Automatically initiate instant bank payments based on events or triggers, like train or tube rides.
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Government payments
Reduce late and missed payments with efficient and reliable automated bank payments for council taxes, social care charges, planning application fees, fines, penalties and housing rent.
Commercial VRP (cVRP) is Pay by Bank — but even more powerful. Users can easily set up automated payments by selecting preferred payment limits and consent expiry. Future payments are automatic (scheduled or trigger-based) or one-click.
Explore our Use Case Library to see the power of commercial VRP.
All you need — more than you expect
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Customisable flows
Your brand, your VRP, your way. Customise VRP setup and consent flows to fit your needs.
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Plug-n-play
Easily embed VRP into any experience. Boost conversions with plug-n-play setup flows.
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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.
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Automated refunds
Leverage our dedicated UK settlement accounts for fully automated, instant refunds driven by APIs.
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Instant payouts
Drive user satisfaction with easy payouts and withdrawals that settle in seconds, not days.
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Growth services
See results faster with consultancy, growth and innovation services.
Cutting-edge products
PAYMENTS
Industry-leading Pay by Bank solutionsPAYOUTS
Real-time payouts and withdrawals
Pay by Bank for your industry
Our Pay by Bank solutions solve key challenges in your industry.
- Banking
- Payments
- Fintech & Financial Services
- Ecommerce
- Crypto
- iGaming
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