Upco Mobile Messenger will use Token Pay™ to enable the delivery of account-to-account (A2A) transfer services and account-to-merchant (A2M) payment services using the UpcoPAY extension within the application. Using Token’s platform, the Skype and WhatsApp rival now plans to roll out a suite of innovative open banking-enabled payment services that both enhance the UX and dramatically lower transaction costs.

Low cost, instant payments and a better UX
By using Token for A2A and A2M transfers, Upco will significantly enhance the options available through Upco Mobile Messenger, while simplifying the transaction process for the user. Token’s API provides pan-European bank connectivity, meaning companies like Upco can quickly and cost effectively establish a connection to any bank to initiate payments and data requests on behalf of their customers. Using Token’s interface, payments are confirmed instantly, and transaction fees are reduced by up to 50%.

Andrea Pagani, CEO of Upco International Inc. and Upco Systems Inc., says: “Token and Upco share a common vision - cheaper, faster and better payment experience for our customers. Token’s agile approach means we now have a flexible solution and the connectivity we need to develop innovative payment solutions. Adding A2A payments is just the start. We’re now working with major European retailers to implement digital payment solutions underpinned by Token that meet the growing demand for contactless, and we look forward to revealing more in the coming months.”

Todd Clyde, CEO of Token, adds: “Open banking is entering the next phase in its development, so companies need to look beyond faster and cheaper to how they can achieve a sustainable advantage that delivers long term value and benefits. We are working with Upco to implement A2A payment functionality and once live, look forward to helping them build out clear points of difference in their popular market.”