Upco International Inc. announced the launch of UpcoPay first phase test. Upco has been working to launch in the coming months UpcoPay which, initially, is an innovative, highly secure and convenient direct payment solution to make person-to-person (P2P) and person-to-merchant (P2M) payments. In the second stage, when e-wallet implemented, users will be able to view multiple account balances, load funds, settle payments and initiate peer-to-peer and Foreign Exchange transfers instantly within the app without the need to create an account or input any bank details. Beginning 2021, Upco users in Europe will be able to use UpcoPay to send and receive money easily, securely and without the use of any credit or debit card. This service will be expanded into other jurisdictions over time. UpcoPay allows transfer between Upco users and vendors that subscribe to the service, protecting individual privacy while being compliant with regulatory frameworks. UpcoPay will also be able to deliver substantially reduced transaction fees over conventional services provided by major existing payment networks, delivering significant savings to vendors and ultimately to consumers. 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%. Starting from December 2020, UpcoPay will be available, as testing phase, to execute payments or transfer for Upco users which has bank account with UniCredit and ING bank in Italy.