Since the outset of PSD2, we’ve always said that open banking would fundamentally change the payments landscape. In 2021, this change was set in motion — and Token led the charge.
Last year, Token:
- Supported our incredible partners on their open payment journeys, including Mastercard, HSBC, BNP Paribas, Nuvei, Volt, Vyne, Contis, Straal, eCommpay, CoinGate, Sonae Universo, InPay and many others.
- Increased consumer adoption of open payments in the UK and Europe, driving over 10m annualised transactions and 25% of all transaction growth to the UK’s nine largest banks. As a result, Token grew over 2000% last year.
- Achieved the broadest, quality connectivity to 14 European countries representing 210 million potential end-users of Open Banking services (and we’re expanding our connectivity further this year!)
- Launched a Variable Recurring Payments and Sweeping survey report, and contributed to notable industry reports from Open Future World, The Paypers and FT Partners.
- Drove the open payments conversation, and, as pioneers in Open Banking, shared insights and data with The Fintech Times, AltFi, American Banker, The Paypers, Finextra, Fintech and Finance News and other major platforms.
- Reunited the industry at the UK’s largest open finance and open banking event — Open Banking Expo — and connected with tens of thousands virtually through Viva Technology, the Open Banking World Congress, Treasury Management International, and around the campfire with Open Banking Excellence.
- Conducted extensive discussions and rigorous testing with banks to maximise API performance and improve the reliability of Europe’s open banking network.
And that's not to mention all that we have in store for 2022!
Thank you to our partners, customers, investors and employees for being part of our extraordinary journey.
We are more excited than ever to work with the best and brightest PSPs, banks, gateways, and acquirers to drive the shift from traditional payment methods to open banking enabled account-to-account payments.
As we enter 2022, open payments are well on their way to becoming a mainstream payment method in the UK and Europe.
Are you ready for the shift?