Flutterwave Partners with Token.io for seamless UK and EU bank transfers

Flutterwave Partners with Token.io for seamless UK and EU bank transfers.

Flutterwave, the foremost payments technology company in Africa, has joined forces with Token.io, the primary provider of Europe’s leading account-to-account (A2A) payment infrastructure, to enable Pay By Bank transfer capabilities on Flutterwave’s platform. This significant announcement was recently made today, 6th June, 2023 at the Money20/20 Europe fintech conference held in Amsterdam.

Token.io is an Open Banking payments platform that enables banks, merchants, and payment providers to launch and manage account-to-account (A2A) payments, access account and transaction data, and fulfill PSD2 obligations.

Token.io was founded in 2016 and is headquartered in London, with offices in Berlin and San Francisco. The company has processed over 30 million payments annually for a blue-chip base of over 80 industry leading partners.

Through this collaboration, Flutterwave will empower its e-commerce merchants in Africa by providing them with improved access to customers from the UK and EU. Simultaneously, Token.io will leverage Flutterwave’s strong presence in Africa to introduce a Pay By Bank option for businesses operating on the continent.

Flutterwave Partners with Token.io for seamless UK and EU bank transfers

“Our partnership with Token.io will make it even faster and easier for individuals and businesses to pay and receive money,” commented Olugbenga “GB” Agboola, CEO of Flutterwave. “By partnering with Token.io to provide Account-to-Account payments to our customers, Flutterwave will advance its mission of connecting Africa to the global economy,” he added.

“We’re confident that Token.io’s infrastructure will help Flutterwave offer its customers a more comprehensive payment solution, with A2A payments being a key part of this for UK, Europe, Middle East and Africa corridors,” said Todd Clyde, CEO of Token.io. “This partnership underscores our commitment to enabling payment providers to grow with open banking powered A2A payments, which are projected to exceed 6.5 billion in annual global volumes by 2027.”

Token.io’s A2A infrastructure empowers payment providers to expand their market presence by launching their own A2A payment capabilities. With the industry’s most efficient and extensive connectivity, Token.io facilitates open banking-powered A2A payments, connecting to more than 567 million bank accounts (over 80% of accounts per market) in 16 European countries.

Flutterwave is a payments technology company that facilitates payment sending and collection, payment processing, and the creation of financial products for its customers, including renowned companies like Uber. With a presence in 34 African countries, Flutterwave currently serves over a million customers.