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The U.K. got an earlier start on open banking implementations, prompting European merchants and fintechs to turn to payments-as-a-service providers for rapid deployment. ....
Open Banking Payments Platform Token Secures $15 Million Though Series B Financing Round
Token, an open banking payments platform, announced on Wednesday it raised $15 million through its Series B financing round, which saw participation from SBI Investment Co. Ltd. Sony Innovation Fund By IGV, Octopus Ventures, EQT Ventures, and BNP Paribas’ venture arm Opera Tech Ventures. Founded in 2016, Token describes itself as an open banking payments platform that’s driving the “shift” from traditional payment methods to bank payments with Pan-European bank connectivity, data, and compliance capabilities. “With Token’s complete toolkit, merchants, PSPs and banks create new capabilities and revenue streams through our broadest, Pan-European connectivity to over 3,000 banks. Token is both bank and developer-friendly, and multi-standard by design.” ....