Token Partners with Computop to Provide Open Banking Payments Service for Merchants in Europe

Open banking payments platform, Token, and leading Payment Service Provider (PSP), Computop Paygate, have joined forces to answer the growing demand for Open Banking payments in Europe. Using Token's Open Banking connectivity and platform, Computop enables account-to-account (A2A) payments for eCommerce merchants, whitelabel partners and resellers using its Paygate platform.

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Token offers the broadest out-of-the-box Open Banking connectivity in the UK and Europe, providing the fastest and simplest way for payment service providers, gateways and acquirers to launch and manage A2A payment propositions. Computop is a global payments company and the leading payment service provider in Germany. The Paygate platform enables integrated payment processes for eCommerce merchants, features over 350 payment types from all over the world.

"For over 25 years, we have provided omnichannel payment solutions that empower merchants to meet the different payment preferences of customers worldwide," comments Computop CEO Stephan Kück. "As our Open Banking partner, Token will enable us to scale our A2A capabilities to expand the benefits of Open Banking payments to more merchants."

"Open Banking payments are an opportunity for merchants to reduce their dependence on cards. They are processed instantly, providing a clearer view of funds, eliminating the risk of chargebacks and can reach anyone with a bank account across a significant proportion of the world," comments Todd Clyde, CEO of Token. "Token is committed to helping PSPs like Computop lower costs, drive revenue and reinvent financial experiences. Open Banking payments are fast becoming a mainstream payment method. We look forward to working with Computop to ensure the Paygate platform continues to drive the future of payments forward as the Open Banking landscape evolves."