Token.io, the London and San Francisco-based open banking platform company, announced news on Wednesday (February 13) that Mastercard has chosen it to provide the connectivity layer for the payment company’s open banking hub.
In a press release, Token said the hub connects merchants and retailers to financial firms in Europe so that they can access data and conduct payment transactions. Some of the services the hub will offer include a pan-European directory to aid financial institutions in ensuring third-party providers seeking access to a customer’s account are real and have the proper regulatory status, a dedicated dispute resolution mechanisms and the connectivity hub.
