Token.io's Pay by Bank Links are here and they're changing the way businesses collect payments.
Whether you're new to Pay by Bank or looking to understand what makes our Pay by Bank Links different, here's everything you need to know.
What is a Pay by Bank Link?
A Pay by Bank Link is a convenient, shareable payment link that lets businesses collect funds instantly and securely, with all the speed, cost, and security advantages of Pay by Bank.
Pay by Bank Links can be shared via SMS, email, or QR code, and beneficiary details are pre-populated and cannot be tampered with, so payers always know exactly where their money is going.
How does a Pay by Bank Link work?
A merchant creates a Pay by Bank Link via Token.io's Pay by Bank Link API
The merchant shares the link via any channel — SMS, email, QR code, etc.
The payer opens the link and accepts the payment request
The payer is seamlessly redirected to their mobile banking app to approve the payment
- Both parties receive a real-time notification of payment status and confirmation
What kinds of businesses use Pay by Bank Links?
Pay by Bank Links are ideal for a wide range of businesses:
High-value and luxury retailers: Pay by Bank Links are a secure payment option with a high success rate for high-value retail. Pay by Bank Links can be used in stores by presenting a QR code at checkout, or by triggering an SMS containing the Pay by Bank Link.
Mail/telephone order merchants: Pay by Bank Link is easier and more secure than sharing card details
Marketplaces: Pay by Bank Links offer a convenient way to request payments for services with instant collection.
Hospitality & MICE: Pay by Bank Links are a secure payment option for high-value deposits and payments.
Charities & NGOs: Pay by Bank Links help charities ensure the lowest cost of processing for donation drives.
Utility providers: Utility providers can embed Pay by Bank Links into bills (URL or QR code).
- Retail Banks — Retail banks can offer a seamless P2P payment experience with Token.io’s Pay by Bank Links, enabling their customers to easily split bills and send money to friends and family.
What are the benefits of using Pay by Bank Links?
Flexibility — Pay by Bank Links can be single use or reusable. Businesses can choose to set expiry dates,payment limits, and fully customise the landing page the Pay by Bank Link opens.
Convenience & Experience — Both the payer and beneficiary get instant payment, and optionally, the payer can download a PDF payment confirmation. Brand elements and payment screen messages are also customisable to support trust and confidence.
Cost & Performance — Pay by Bank Links provide a low cost, instant collection option with high success rates.
- Security & Trust — Every payment is authorised directly with the payer's bank. Beneficiary details are pre-populated and immutable, so payers always know where their money goes. MFA is built in.
What makes Token.io’s Pay by Bank Links unique?
In addition to extensive customisation options, Token.io's Pay by Bank Links can be either single-use or reusable — opening up unique possibilities for a wide range of use cases.
Who can use Pay by Bank Links?
Consumers. Anyone with a UK or EU bank account can use a Pay by Bank Link — there is no separate registration required.
Businesses: Businesses can use Pay by Bank links as a convenient and secure way to collect funds instantly and irrevocably, whether online, on invoices, or in store.
Pay by Bank Links are available to Token.io partners across all of our supported markets.
Which markets are supported?
Pay by Bank Links are available across all of Token.io's supported markets, including: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Romania, Spain, Sweden, and the UK.
How does Pay by Bank Link compare to cards and wallets?
Settlement
- Pay by Bank Link: Instant FPS/SEPA Instant, 24/7
- Cards: 1-3 day settlement
- Wallets: Instant, 24/7
Branding
- Pay by Bank Link: Custom branding
- Cards: None
- Wallets: Limited
Ease of use
- Pay by Bank Link: No manual entry, no registration
- Cards: Error-prone data entry
- Wallets: Login often required
Cost
- Pay by Bank Link: Low cost
- Cards: High (1.5%–3%)
- Wallets: High (1–1.75%)
Security
- Pay by Bank Link: Built-in MFA, no chargebacks, irrevocable
- Cards: Chargebacks, sensitive data shared
- Wallets: Holds possible
Reliability
- Pay by Bank Link: High success rates
- Cards: High-value transactions can decline
- Wallets: High success rates
Reusability
- Pay by Bank Link: Single use or reusable
- Cards: Not applicable
- Wallets: Not applicable
Can I customise Pay by Bank Link experience?
Yes. Token.io's Pay by Bank Links offer extensive customisation options to instill trust and confidence in the payer:
- Custom logo, brand colours, and favicon
- Custom header and landing page content
- Fixed or open payment amounts and custom field names
- Custom payment confirmation page with optional CTA button
- Optional downloadable PDF payment confirmation for payers
How do I get started?
Pay by Bank Links are available via Token.io's latest API, as part of its enterprise-scale Pay by Bank infrastructure.
Speak to your Token.io partner manager or Contact Sales to get started.