Ecommpay Expands Its Token.io Partnership to Offer Virtual Accounts in Four New Markets

Following this announcement, Ecommpay has added Token.io’s virtual accounts in four new markets (including the Netherlands, Spain, France, and Ireland) to Ecommpay Open Banking Advanced.

payment service provider Ecommpay has announced the addition of Token.io’s virtual accounts in four new markets (the Netherlands, Spain, France, and Ireland) to Ecommpay Open Banking Advanced, following a strategic deal. This will provide key cash-flow and customer experience benefits for ecommerce merchants and businesses.

Both financial institutions will also continue to focus on meeting the needs, preferences, and demands of customers and clients in a continuously evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the local industries.

More insights on the Token.io x Ecommpay collaboration

With the A2A payment market set to grow significantly, Ecommpay is dedicated to providing solutions that will enable ecommerce merchants to capitalise on this opportunity. The strategic deal with Token.io, which powers Ecommpay’s Open Banking payment instruments in the UK and throughout Europe, has been expanded to include local settlement IBANs for customers in the Netherlands, Spain, France, and Ireland. The product optimisation will also remove the risk of IBAN discrimination, which can delay payment settlement, while facilitating faster acceptance of funds via SEPA Instant.

Offered within Ecommpay’s Open Banking Advanced product, virtual accounts will enable ecommerce businesses to receive real-time settlement confirmation, while also making API-driven refunds or payouts, which will enhance the speed, security, and efficiency of transactions.

Virtual cards will also provide local IBANs in more markets, reducing the potential for payment discrimination and enabling ecommerce merchants to leverage Open Banking for payments and faster acceptance of funds via SEPA Instant.

Moreover, the partnership marks a step in Ecommpay’s commitment to driving financial inclusion and optimising local payment experiences. By utilising Token.io’s direct bank connectivity, Open Banking payments will be accessible to almost anyone with a bank account in the European region.

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