Noda Ties with Token to Roll out Direct Bank Payments in Europe

Open Banking provider Noda has launched direct bank payments in Europe, following a partnership with Open Banking payments platform Token, according to the press release.

Fazzaco Hall of Fame 2022 Officially Opens (Click to Nominate)!​

Noda enables merchants to receive direct bank payments from customers as an alternative to cards. The company, through its API and platform, allowed merchants in Germany, Austria, France, and the Netherlands to implement Open Banking payments. According to the company's COO, Noda's main product offering is based on Open Banking. She said that, following Brexit, Noda was only licensed in the UK region, so the company was actively looking for new partners in Europe. Following the partnership, Noda has reportedly seen good results, including better coverage both in terms of market offering and connection to banks in Europe. 

Using Token's Open Banking connectivity in Europe, Noda has reportedly doubled its transaction volumes in the last 3 months, as stated by the press release. Token's Open Banking connectivity for AIS (account information services) and PIS (payment initiation services) in the UK and Europe reportedly connects to over 80% of bank accounts reaching over 250 million potential end-users of Open Banking services in 14 countries, all through a single API and interface. 

(Source: The Paypers)