Vancouver, British Columbia–(Newsfile Corp. – May 19, 2020) – Upco International Inc. (CSE: UPCO) (OTCQB: UCCPF) (FSE: U06) (“Upco”) is pleased to announce that it has reached an agreement with Token.io to leverage its open banking platform for mobile transaction processing. Under the terms of the agreement, UpcoPAY, an extension of 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. Token.io is a leading open banking platform provider, connected to more than 6,000 banks throughout Europe. Their platform enables PSD2 compliance, data aggregation and bank direct payments driven by Smart Token technology for banks and TPPs.

Integration with Token’s open banking platform significantly enhances the options that are available via Upco Mobile Messenger, while simplifying A2A and A2M transaction processing. Token’s API provides pan-European bank connectivity, so that Upco can quickly and cost effectively establish a connection to any bank to initiate payments and data requests on behalf of its customers. Using Token’s interface, payments are confirmed instantly, and transaction fees are reduced by up to 50%.

For the corresponding release from Token.io, please go to Upco Selects Token.