Token.io Announces Strategic Investment by HSBC
As revealed at Money2020 Europe, HSBC's investment marks an important milestone for Token.io, a company specialising in account-to-account (A2A) payment infrastructure, which has partnered with the bank since 2019 to power its successful HSBC Open Payments solution.
Todd Clyde, CEO of Token.io, comments: 'We are excited to deepen our partnership with HSBC as we embark on this collaboration. This investment will not only accelerate Token.io's growth and innovation, it will also advance our shared vision of making Pay by Bank a mainstream payment method — delivering benefits for HSBC's customers across the region.'
Manish Kohli, Head of Global Payments Solutions at HSBC, comments: 'Our investment in Token.io reflects the trust and confidence we have in their team and technology, and our firm belief in the role that innovative Open Banking solutions play in transforming the payments experience for both corporates and consumers.'
HSBC's Open Payments solution enables customers to initiate direct bank payments from third-party platforms quickly and securely. Building upon this foundation, HSBC is also broadening its adoption of Token.io's infrastructure for Pay by Bank, offering clients a secure, fast, and convenient option for peer-to-peer payments, account deposits and loan repayments.
Underpinned by open banking and real-time payment infrastructure, Pay by Bank reduces the cost and complexity of payments. It also simplifies the customer experience; users pay directly from their bank accounts, quickly and securely authenticating transactions using their banking app. Already, Token.io 's solutions enable nearly anyone with a bank account in the UK and Europe to use Pay by Bank.
Given the benefits, analysts predict that three in four Europeans will regularly use Pay by Bank by 2029, and that payment volumes will increase by 30% this year. By 2030, European's use of Pay by Bank for e-commerce is expected to eclipse all other digital payment methods, second only to wallets.
Token.io has also secured additional funding from an overwhelming majority of its existing investors, reflecting their support for this significant industry development.
About Token.io
Token.io's leading account-to-account (A2A) payment infrastructure is reimagined to empower banks, fintechs, platforms and payment companies with turnkey Pay by Bank solutions. The frontrunner in A2A payment infrastructure for banks, Token.io's partners include three of Europe's five largest financial institutions. Its solutions are also trusted by a blue-chip payments community, including Mastercard, ACI Worldwide and Global Payments.
About HSBC
HSBC Holdings plc, the parent company of HSBC, is headquartered in London. HSBC serves customers worldwide from offices in 58 countries and territories. With assets of US$3,054bn at 31 March 2025, HSBC is one of the world's largest banking and financial services organisations.
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