Token.io

Token.io operates as a foundational provider of account-to-account (A2A) payment infrastructure, carving out a significant niche in the European open banking landscape. The company was established in 2015 by serial Silicon Valley entrepreneur Steve Kirsch, who has a background in founding successful tech companies like Infoseek and Frame Technology. He identified the complexity in pre-internet payment rails and aimed to create a new generation of payment capabilities. In 2019, Todd Clyde, an executive with a 20-year history of guiding technology startups to successful exits, took over as CEO, with Kirsch transitioning to the role of Chief Innovation Officer to focus on product development. Clyde's experience includes roles at Accenture and leading four other startups, one culminating in a $2 billion exit.

The firm's core business revolves around its white-label open banking platform, TokenOS, which provides a single API to connect to thousands of banks across Europe. This infrastructure empowers payment service providers (PSPs), banks, and large merchants to offer 'Pay by Bank' solutions. The business model generates revenue by enabling these clients to build their own payment propositions, either by using Token.io's platform as a technical service provider or by leveraging its regulatory licenses in the UK (FCA) and Germany (BaFin) to get to market faster. Clients include major financial institutions and payment companies such as HSBC, Mastercard, BNP Paribas, Santander, and Nuvei. For these partners, Token.io facilitates the development of services like instant A2A payments for e-commerce, loan repayments, and account deposits, which can reduce processing costs and simplify the user experience compared to traditional card payments.

The company's journey includes several key milestones, starting with its first Series A funding of $18.5 million in 2017 to fuel its European expansion. In 2018, it processed the first-ever end-to-end payment via a PSD2-compliant bank API. Subsequent funding rounds, including a $15 million Series B in 2021 and a $40 million Series C in 2022, have supported the platform's development and solidified its market position. A strategic investment from HSBC in 2025 further deepened their existing partnership, which began in 2019 and powers HSBC's Open Payments solution.

Keywords: account-to-account payments, A2A infrastructure, open banking platform, Pay by Bank, payment initiation service provider, PISP, AISP, PSD2 compliance, fintech infrastructure, white-label payments, European payments, bank connectivity, payment API, real-time payments, financial software, Todd Clyde, Steve Kirsch, TokenOS, payment service provider solutions, merchant payments, digital payments