Flutterwave, Africa's leading payment technology company, has partnered with Token.io, A2A payment (commonly known as "Pay By Bank") is a fast and secure way to move payment infrastructure providers to accounts -accounting (A2A) from Europe, enabling Bank Pay transfers for the Flutterwave platform. The announcement was made today at the Money20/20 Europe fintech conference in Amsterdam. The partnership will allow Flutterwave to offer African e-commerce customers access to UK and European customers, while Token.io leverages Flutterwave's presence in Africa to provide Pay By Bank solutions for transactions on the continent. A2A payment based on Open Banking does not require registration or incorrect data entry, making it a convenient payment method. End-users support A2A payments directly to their bank for a seamless experience that also results in higher market success rates. A2A Payments provides customers with an alternative to traditional payment methods and provides instant solutions to improve the financial process.
Powered by open banking, Token.io's A2A infrastructure enables issuers to develop their own A2A payment capabilities to grow their market share. Token.io provides the industry's best and deepest connectivity for open bank-based A2A payments, reaching over 567 million bank accounts (more than 80% of accounts in one market) and 16 European countries. Flutterwave is a payments technology company that helps customers, including Uber, send and collect payments, process payments, and create financial products. Flutterwave supports over one million customers in 34 countries in Africa. Powered by Token.io technology, A2A payment capabilities are now available through Flutterwave's Payment Products for businesses. The bank payment feature will also be available on Send by Flutterwave, Flutterwave's cross-border payment platform, in Q3. This will make money transfers easier for Africans in the UK/EU who want to send money home.
“Our partnership with Token.io will make it even faster and easier for individuals and businesses to pay and receive money,” commented Olugbenga “GB” Agboola, CEO of Flutterwave. “By partnering with Token.io to provide Account-to-Account payments to our customers, Flutterwave will advance its mission of connecting Africa to the global economy,” he added. “We’re confident that Token.io’s infrastructure will help Flutterwave offer its customers a more comprehensive payment solution, with A2A payments being a key part of this for UK, Europe, Middle East and Africa corridors,” said Todd Clyde, CEO of Token.io. “This partnership underscores our commitment to enabling payment providers to grow with open banking powered A2A payments, which are projected to exceed 6.5 billion in annual global volumes by 2027.”
