Token.io's CEO, Todd Clyde, reveals the mainstream adoption of account-to-account (A2A) payments in the UK and Europe, as evidenced by the Pay by Bank Signals & Trends 2025 survey. The survey highlights a 91% increase in merchant demand for A2A payments, driven by changing consumer behavior and the need for lower-cost payment methods. Clyde emphasizes the role of Payment Service Providers (PSPs) in this shift, with 95% of them prioritizing Pay by Bank as a strategic focus. The market pressure and competitive landscape are pushing banks to offer Pay by Bank to retain customers and avoid being disintermediated. According to the survey, 67% of banks have already launched or plan to launch Pay by Bank, aiming to modernize interactions and enhance user experience. Token.io's partnership with Antom EMEA further solidifies its commitment to driving A2A adoption in the region. The company's focus on Pay by Bank is underscored by its collaboration with BNP Paribas on Instanea, an Open Banking-based product. Instanea addresses client needs for instant payments, higher payment limits, simplified reconciliation, and lower costs. The product's versatility is evident in its applications in utilities, travel, retail, and luxury fashion. Token.io's Chief Product Officer, Charles Damen, discusses the UK's progress towards widespread adoption of Variable Recurring Payments (VRP). The panel, including industry experts, explores the alignment of commercial incentives across banks, fintechs, and merchants for VRP's success. Virgin Money's implementation of Open Banking payments for credit card customers, resulting in 96.2% of one-off payments made through Open Banking, showcases the trust and understanding VRP can foster among consumers. Nationwide Building Society's deputy payments director, Isabel Pitt, highlights the streamlining of the user journey and the importance of trust and control in VRP adoption. The key to a scalable, functioning cVRP ecosystem, according to Damen, is reach, emphasizing the critical role of bank participation in making payments ubiquitous.
