Token.io unveils new hosted pages to ‘elevate’ Pay by Bank

Account-to-account payment infrastructure provider Token.io has launched hosted payment pages aimed at elevating the Pay by Bank user experience.

Token.io revealed that Dublin-based payment orchestration platform Prommt is its first partner to benefit from the new hosted payment pages, which it defined as “secure web pages that provide businesses with plug-and-play checkout or payment capabilities”.

Its white label ‘Hosted Pages’ have been designed to enable payment service providers, banks and merchants to quickly and easily launch their own custom branded Pay by Bank capabilities, while maximising conversions.

Token chief executive officer Todd Clyde

Among the features that will boost conversion to Pay by Bank are faster bank authentication for payments initiated on desktop, with “seamless handover” to mobile banking apps via QR codes, as well as one-click selection journeys for banks without branches.

Token.io has also minimised the number of redirects required, with hosted payment pages overlaid on top of checkout/payment pages, while another feature is able to suggest popular banks and save users’ preferences for frictionless return journeys.

“At Token.io, we believe that exceptional user experiences are the key to unlocking the full potential of Open Banking and real-time payments,” said Todd Clyde, Token.io’s chief executive officer.

“The launch of our new Hosted Pages reflects our commitment to delivering best-in-class solutions that not only improve conversion rates and streamline payment processes, but also enable our partners’ growth in an increasingly competitive landscape.”

Prommt has expanded Pay by Bank use cases across hospitality, luxury retail, and automotive sectors with its ‘Pay by Link’ capabilities and enables secure checkouts via SMS, email, chat, web, or in-app.

Pay by Bank is offered by Prommt as a default or alternative payment method based on orchestration parameters such as transaction value, location, or customer type.

Prommt reported that more than 60% of its clients now use Pay by Bank.

“By leveraging Token.io’s Hosted Pages, we can elevate the Pay by Bank experience for our merchants, enabling them to capitalise on the growing potential of open banking-enabled payments,” Stephen Culligan, chief product officer at Prommt added.

“This not only helps businesses lower payment processing costs, improve liquidity and reduce fraud, but also empowers them to deliver exceptional payment experiences for their customers across multiple touchpoints and channels.”

Further reading: SPAA – Sparking a homegrown pan-European payments revolution

Q&A: Token.io’s Lea Siering on instant payments, sustainability and gender diversity