Token.io Launches Virtual Accounts For A2A
Token.io, a UK-based A2A payment solution provider, has released virtual settlement accounts, which allow payment providers to use A2A for ecommerce.
The new service allows payment providers to get real-time settlement alerts while collecting and holding payments in multiple currencies. As a result, end merchants will have insight over the monies they receive and, as a result, the confidence to immediately release goods and services.
Token.io capitalises on the renewed interest in account-to-account payments as a result of the trend away from cards and towards alternative payment methods by expanding this new product. According to the official announcement, Open Banking-powered A2A payment transactions are expected to exceed USD 330 billion by 2027.
(With inputs from Shikha Singh)
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