Assessment
Token.io connects a payment provider or merchant to banks' open-banking interfaces so customers can pay straight from their bank account. One API covers single payments, variable recurring payments, payouts and refunds in the UK and Europe. Use it when a payment service provider wants to add pay-by-bank for its own merchants, often under its own brand.
Token.io Ltd was incorporated in London, England, in 2016 and is authorised by the FCA for payment initiation and account information (firm reference 795904). Settlement accounts are provided through Modulr. Partners include HSBC, Santander, BNP Paribas and Global Payments, and the company says it has raised $80M. Revenue is not published.
It fits a payment service provider, acquirer or bank that wants to resell pay-by-bank. It is a weaker fit for a small merchant that wants a checkout button with a simple monthly price.
Rating by criterion
Each of the eight criteria below is scored out of 100.
Sector criteria
Token.io starts single and variable recurring payments, payouts and refunds across UK and European banks, and says average success rates top 95% in its main markets. It does not process cards.
Developer documentation is public, and white-label hosted pages let a provider show pay-by-bank under its own brand. Test bank coverage country by country before launch.
Token.io Ltd is FCA-authorised for payment initiation and account information, and settlement accounts run through Modulr, an e-money institution, with funds safeguarded. Bank payments carry no chargebacks, so the merchant's refund process needs care.
Partners include HSBC, Santander, BNP Paribas, Global Payments and Computop, so Token.io often reaches merchants through their bank or acquirer.
Vendor criteria
Token.io has added variable recurring payments, payouts and data products to its core payment initiation, and HSBC made a strategic investment in June 2025.
Onboarding is sales-led. A provider should plan its own compliance review and merchant onboarding rules.
No prices are published, though Token.io says pay-by-bank costs a fraction of card payments, with no interchange fees. Request a quote.
Contract terms are negotiated. Ask about minimum volumes and support for each bank connection.
Against its peers
These are the other companies in payments and acquiring, with their ratings.
Fact file
| Regulator | FCA, firm reference 795904 (payment initiation and account information) |
|---|---|
| Settlement accounts | Provided through Modulr |
| Raised to date | $80M, according to Token.io |
| Partners | HSBC, Santander, BNP Paribas, Global Payments, Computop |
| Products | Pay by bank, variable recurring payments, payouts, data |
Competitive landscape
Open-banking payment providers a payment company or merchant would compare with Token.io.
Token.io: 74
Comparisons
Key leadership
Todd Clyde joined Token.io as chief operating officer in 2016 and has been chief executive since 2019.
How this review was created
This profile gives our own assessment of Token.io to companies selecting a Payments & acquiring provider. The Fintech Index receives nothing for featuring a firm, for sponsorship, or for advertising, and Token.io gave us no payment for the profile.
The rating equals the average of eight criteria, with every criterion running from 0 to 100. Four address buyer needs in this sector, and four address the company together with its commercial terms.
Ratings are our editorial judgment, made from public information: pricing and legal pages, product documentation, compliance disclosures, and filings. Fact-checking took place on October 22, 2026.