As part of their collaboration, Fabrick is set to utilise Token.io’s A2A payment connectivity and infrastructure to support B2B and B2C customers in accepting Pay by Bank in the UK. Additionally, Token.io’s Open Banking connectivity will assist Fabrick’s efforts to maintain its position in Europe’s rapidly growing A2A payments landscape.
The partnership with Token.io comes a few months after Fabrick started working with TerraPay to enable businesses to access a unified platform to optimise cross-border payments across the region. Fabrick aimed to advance its geographical footprint, with the plans being assisted by TerraPay’s solutions. The two companies initially intended to offer their services to the Italian market, allowing businesses to access a platform that augmented the payment process, minimised operational costs, and ensured compliance with regulatory requirements.
Real-time Pay by Bank can provide significant benefits compared to traditional payment methods, removing intermediaries to minimise processing costs and scale cash flow. This option does not require manual entry of sensitive data, with users being able to authenticate payments directly from their mobile banking app for a convenient and secure payment experience.
Furthermore, commenting on the news, representatives from Fabrick underlined that their company integrates optimised solutions into the platform to enable merchants and large organisations to provide augmented payment solutions, assisting them in growing their business in different target markets. The alliance with Token.io comes as an addition to Fabrick’s internationalisation strategy and supports it in developing its product offering to the UK market. The decision to choose Token.io as a partner can be attributed to the latter’s technological capabilities, with them allowing Fabrick to deliver new use cases and expand opportunities for customers.
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