Active since
2015
Head office
15 Bishopsgate, London EC2N 3AR
Country offices in
UK, Germany, US
Founder(s)
Marten Nelson, Steve Kirsch, Todd Clyde
Funding round and investors
Token has completed three rounds of funding, for a total of USD 80 million from investors including Octopus Ventures, Cota Capital, TempoCap, EQT Ventures, SBI Investments, MissionOG, Opera Tech Ventures (BNP Paribas), and Sony Ventures.
Business revenue 2021
USD 5 million+
Year over year growth rate
Token’s volume growth rate is 300%.
Number of employees
80
Member of industry association and/or initiatives
Founding Member – Open Finance Association Europe Member – Open Banking Europe Member – Financial Data and Technology Association (FDATA) Member – UK Finance Member – Merchant Risk Council
Awards
Winner – Payments Tech of the Year 2022 (Fintech Awards London) Winner – Payments Tech of the Year 2022 (UK Fintech Awards) Winner – Hottest Fintech Startup 2021 (Europas) Winner – Best Open Banking Solution 2020 (PayTech Awards) Winner – Best Fintech Partnership Award 2019 (Banking Technology Awards) Winner – Best Consumer Payments Award 2019 (PayTech Awards) Winner – Fintech of the Year 2019 (FSTech Awards) Winner – Best Payments Industry Newcomer 2019 (Card and Payment Awards) Winner – Payments Startup of the Year 2019 (Payment Awards)
Contact
info@token.io / www.token.io
CORE SOLUTION
What are the company’s core solutions
With best-in-class AIS and PIS connectivity, Token’s white-label-ready Open Banking payments platform is purpose-built to enable PSPs, gateways, and acquirers to easily launch and successfully manage account-to-account payment (A2A) propositions.
How it works
Token’s ‘platform for platforms’ includes sophisticated reseller-friendly features such as merchant management, customer billing, and programmable authorisations. Payment providers can plug and play, white-label, or use Token’s technology to build their own Open Banking payments propositions. Customers can also choose whether to use Token’s license or their own.
What problem does the company solve
Token is driving the shift from traditional payment methods like cards and wallets to faster, fairer, frictionless Open Banking payments. As merchant demand for this lower-cost payment method grows, Token enables PSPs, gateways, and acquirers to deliver while generating greater revenues and higher margins by launching white-labelled A2A payment propositions.
Types of supported APIs\API standard supported
Token provides access to banks across Europe in line with common Open Banking standards and through RESTful API. We currently support the UK Open Banking standard, STET (France), REDSYS (SPAIN), SIBS (Portugal), NextGenPSD2 (Germany, Nordics), CBI (Italy), and the Polish API Standard.
Industries/target markets
Token’s customers include large payment providers, gateways, and acquirers in the UK and Europe. Token also works with banks, large merchants, and leading card schemes.
Geographical coverage (operational area)
The UK and Europe
Number of connected banks
Token currently connects to over 2,000 banks in Europe and is continuously expanding its network. Token’s connectivity for AIS and PIS reaches over 250 million potential end-users of Open Banking services, with over 75% coverage in 15 European countries. All through a single API and interface.
Account coverage (%) across countries / regions
97% of banks in the UK 95% of banks in Estonia 89% of banks in the Netherlands 89% of banks in Belgium 89% of banks in Lithuania 85% of banks in Latvia 85% of banks in Germany 84% of banks in Italy 82% of banks in France 81% of banks in Spain 80% of banks in Poland 79% of banks in Hungary 78% of banks in Ireland 77% of banks in Portugal 75% of banks in Austria
Number of total end users
Token processes tens of millions of Open Banking payments annually for over 80 customers and partners.
TECHNOLOGY
Native Cloud
Software language
Java (microservices based)
Software development tools
Java, RxJava, JavaScript, PHP, C#, React, MobX, Objective-C, Swift, gRPC, ExpressJS
When was the core technology developed
2018-2020
PARTNERS
Technology partners
AWS
BUSINESS MODEL
Pricing model
Please contact our sales team for more details.
Future developments
Token is enabling its customers’ success in the new world of payments with the development of Variable Recurring Payment capabilities for both sweeping and nonsweeping (ecommerce) use cases, as well as other premium API functionality.
CUSTOMERS / CASE STUDIES
Key customers
Mastercard, BNP Paribas, HSBC, Vyne, Volt, Deutsche Payments, Trust Payments, Nuvei, Paysafe, Noda Pay, Contis, Ecommpay, Everpay, Banked, Inpay, Straal, Zoho Books, Sonae, EchoPay for Clover, Prommt, ShoppingOS, Rewire, and other major payment providers.