back Back

EchoPay and Token.io partner to bring A2A payments to wholesalers

By Gloria Methri

August 22, 2023

  • A2A Money Transfers
  • Account to Account Payments
  • EchoPay
Share

Token.io, EchoPay, Account-to-Account Payments, QR Payments, Payment Infrastructure Provider, Open Banking, FinTech, UKAccount-to-account (A2A) payments provider EchoPay, and open banking payment infrastructure provider Token.io, have partnered to bring A2A payments to wholesale merchants across the United Kingdom.

Underpinned by Token.io’s connectivity for A2A payments, EchoPay enables businesses to accept A2A payments at the point of sale, providing an additional low-cost payment option with instant settlement and enhanced security.

EchoPay’s A2A payment solution can be easily installed on Point of Sale (POS) terminals as a custom tender, allowing merchants to generate QR codes for customers to initiate a frictionless A2A payment directly from their mobile phones.

In addition to enabling A2A payments via ‘Clover’ POS terminals, EchoPay also enables Unitas merchants to accept A2A payments through a branded app or credit management dashboard, with support for payment requests via email or WhatsApp through a branded webpage.

James Ward, CEO and Founder of EchoPay said, “Our new partnership with industry leaders Token.io is an important step in enabling even more businesses to discover the benefits of open banking-enabled payments.”

Ward continued, “Transactions using EchoPay cost the wholesaler a flat rate. This is particularly valuable for wholesale merchants operating in a B2B environment with high average transaction values. With EchoPay, merchants can effortlessly generate QR codes to accept A2A payments at the point of sale, ensuring instant ng, improved cash flow, mitigated risk of chargebacks, and a clearer view of funds for customers.”

Todd Clyde, CEO of Token.io said, “We are thrilled to partner with EchoPay to bring the benefits of Pay by Bank solutions to new verticals. The launch of EchoPay is a big step forward in making Pay by Bank available at the point of sale and expanding the benefits of A2A payments to more merchants. In addition to cost savings, Pay by Bank enables better cash flow as payments are settled instantly, and can also be allocated seamlessly for faster, easier reconciliation than invoicing and accepting bank transfers.”

Previous Article

August 22, 2023

Fincover offers customers to check free credit score on its platform

Read More
Next Article

August 22, 2023

LIBF MENA enters partnership with The Financial Academy

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

A2A Money Transfers

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Ecommpay & Mastercard partner to deliver Click to Pay in Europe

Read More

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

July 19, 2024

Paysys Labs & Raqami Islamic Digital Bank to fuel digital payments in Pakistan

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024