Open Banking in UK: API call volume has increased from 66.8 million in 2018 to 5.8 billion in 2020 – says Token

2 august 2021

In the three years since open banking became a regulatory requirement in the UK, API call volume has increased from 66.8 million in 2018 to 5.8 billion in 2020. „Over 2.5 million UK consumers and businesses now use open banking-enabled products, which has caused the number of total payments to grow by over a thousand percent since 2018,” according to the open banking payments platform Token.

Token is driving that expansion with best-in-class, European bank connectivity, data, and compliance capabilities. As of 30 June 2021, the company has:

. Initiated 22% of all successful payment transactions in the UK in June 2021*

. Captured 37% of all market growth in the UK for open payments year-to-date

. Driven 58% of all market expansion in the UK in the second quarter of 2021

. Quadrupled its market share for open payments from the CMA9 in the last 6 months

. Achieved annualised payments value of €2.3bn

In addition to significant growth in the UK, Token has partnered with BNP Paribas to launch the first SEPA Instant immediate payments offering for merchants in Europe, BNP Paribas Instanea.

Todd Clyde, Token CEO, is confident about the future. “Our recent success at capturing market share and expanding to new markets indicates a very healthy future for Token, and for open banking in the UK and across Europe. As open banking reaches a critical tipping point, Token will continue to be at the forefront of the instant digital payment revolution.”

Token expects similar acceleration in growth rates in Germany by the end of 2021. A number of its multinational Payment Service Provider (PSP) customers, such as BNP Paribas, are looking to expand their offering in Germany and Austria. Earlier this year, Token also established a new EU headquarters in Germany and was granted official authorisation by the German Federal Financial Supervisory Authority BaFin. With this license, Token can provide payment initiation and account information services, and build on the success of its open banking platform, across Europe.


Token is an open banking payments platform driving the shift from card to bank payments with best-in-class European bank connectivity, data, and compliance capabilities. With Token’s complete toolkit, the best and brightest merchants, PSPs, and banks create new account-to-account payment capabilities and revenue streams through its broadest connectivity to banks in Europe. Token is both bank and developer-friendly, and multi-standard by design.

*Market share is derived from the latest transaction volumes reported by the CMA9 banks.

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Mihai Draghici – CEO PayByFace

„Dupa ce oamenii creeaza un cont PayByFace si au adaugat cardul, selfi-ul si PIN-ul, si au avut un pic de curaj sa se duca sa incerce, daca au incercat o data plata prin recunoastere faciala nu mai folosesc altceva (n.r. ca modalitate de plata). 80% dintre ei numai asta folosesc. Le place la nebunie.” 

Afla aici rezultatele in adoptia platii prin recunoastere faciala.


In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?