Token use case
Open Banking powered instant payments
Token allows banks and other players in the payments ecosystem, such as merchants and payment processors, to build bank direct payment methods and data aggregation solutions for their customers. The platform aims to raise security and reduce fraud and disintermediation. Unlike in-house developed solutions, Token supports the same API across all banks.
What's the Open Banking use case?
Payments are a continuing and complex challenge for ecommerce merchants. There was an opportunity for a new solution, combining PSD2 APIs with SEPA Instant payments to allow e-commerce merchants to accept instant A2A payments.