Token.io, the leading account-to-account (A2A) payments infrastructure provider, today announced it has become the first third-party provider (TPP) to be admitted to the giroAPI scheme.
This milestone positions Token.io at the forefront of premium API payment innovation in Europe and will enable its partners — which include tier 1 banks and payment services providers — to access advanced payment capabilities and new business models through the German Banking Industry’s (DK) pioneering giroAPI scheme.
GiroAPI is the first API scheme in Europe to go beyond traditional payment transactions. It was launched by the German Banking Industry Committee associations (BVR, DSGV, VÖB, and the Association of German Banks) on 1 January, 2025, and is built on the Berlin Group’s Open Finance API framework. This provides a standardised, secure, and commercially governed interface that connects banks with TPPs, like Token.io.
As a member of the giroAPI scheme, Token.io will be able to deliver new account-to-account payment (often called ‘Pay by Bank’) features to its partners. These include online micropayments exempt from Strong Customer Authentication (SCA), as well as recurring and future-dated payments, empowering consumers to schedule regular transactions — such as subscriptions or utility bills — by pre-authorising a maximum payment amount.
Businesses will be able to offer customers significantly greater choice and control when making payments, supporting use cases such as ecommerce transactions, travel bookings, and instalment-based payments.
André Nash, head of banking technology and security, Bankenverband, for giroAPI said: “Token.io’s admission as the first TPP marks a significant step in realising the vision of giroAPI: to foster innovation and deliver new value-added services through secure, standardised APIs. We look forward to working with Token.io to enable the next generation of Open Finance services for banks, businesses, and consumers across Europe.”
Gideon Fourie, managing director, Token GmbH, said: “Being the first TPP to join giroAPI is a tremendous opportunity. Token.io’s participation means our partners will be able to access new payment experiences supported by a rapidly growing network of banks through a single, secure connection.
“This will provide German banks and consumers with more payment choices, and strengthen the competitive position of Germany’s financial institutions.”
Token.io’s chief product officer Charles Damen
Charles Damen, chief product officer, Token.io, added: “This is a major milestone for the evolution of Pay by Bank, providing businesses in Europe with payment services comparable to Variable Recurring Payments (VRP) in the UK, complemented by additional cutting-edge Pay by Bank capabilities.
“By joining giroAPI, Token.io is enabling the next wave of premium, API-driven payment services — making it easier for businesses to offer innovative payment options and for consumers to benefit from seamless, secure experiences. We are proud to lead the way in bringing the full potential of Open Banking-enabled payments to the European market.”
Analysts predict that three in four Europeans will regularly use Pay by Bank by 2029, with Pay by Bank becoming only second to digital wallets for online transactions by 2030.
Token.io’s admission to giroAPI further cements its leadership in the European payments landscape. With access to over 190 banks already in the scheme and plans for further expansion, Token.io is set to drive the future of Pay by Bank in Europe.
Further reading: Token.io enables Fabrick to expand Pay by Bank to the UK market
