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

By Gloria Methri

Account-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.”