Instead of reaching to clearing houses and other intermediaries that take a piece of the bank’s payment revenue, the bank launches its own Token digital transaction network, allowing it to set its own fees. Therefore, the bank can increase its margins, lower the costs of transacting for merchants, and introduce a fee structure for Account Information Service Providers and Payment Initiation Service Providers mandated by PSD2.
According to both companies, combining Token’s payment network with Fidor OS took a total of ten days, including testing. Customer account data is aggregated in a single place, and payments can be made from multiple sources instantly and securely from within a single environment.
Banks and other interested stakeholders can explore the Token system for free by visiting try.token.io and following the instructions.
The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.
The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.
Current themes
No part of this site can be reproduced without explicit permission of The Paypers (v2.7).
Privacy Policy / Cookie Statement
Copyright