Trustly
Trustly is a Sweden-founded Pay by Bank (account-to-account) payment platform that uses a proprietary Open Banking stack spanning 12,000+ banks across 30+ countries to help enterprise merchants in eCommerce, financial services, gaming, and subscription billing accept direct bank payments with lower fees than cards.
- Company typePrivate
- Founded2008
- HeadquartersStockholm, Sweden
- Headcount501–1,000
- GTM typeB2B
- OfferingSoftware
What Trustly does
Trustly is a Sweden-based Pay by Bank (account-to-account) payment platform founded in 2008 and headquartered in Stockholm, operating as a private subsidiary of Trustly Holding AB. The company operates a proprietary Open Banking technology stack built over 15+ years, connecting to more than 12,000 banks across 30+ countries via a single API. Its product suite spans Trustly Pay (core payment initiation), Trustly ID (biometric identity verification), Trustly Payouts (instant disbursements), Trustly Insights (consumer spending and affordability analytics), Trustly Connect (ACH), Trustly Scan & Pay (gaming cashless funding), and Trustly Remember Me (returning-user payment binding).
Trustly serves primarily enterprise merchants across eCommerce, financial services, gaming, subscription/bill pay, and consumer onboarding, with named customers including IKEA, Zalando, Microsoft, Dyson, Delivery Hero, Boozt, Electrolux, Swarovski, a Fortune 50 top 3 telecom company, and Fifth Third Bank. It monetizes primarily via negotiated transaction fees that it claims are up to 50% lower than card-based alternatives, supplemented by identity verification and consumer data services. Distribution combines API-first direct integration with embedded finance channels (Fifth Third's Newline) and vertical SaaS partners (e.g., seQura). As of April 2026 the platform reports 120 million users globally, $500 billion in cumulative processed volume, and US operations generating roughly half of group revenue.
Strategic posture has been expansionary: PayWithMyBank (2019) entered the US, Ecospend (2022) extended UK Open Banking reach to roughly 50 million consumers across 80+ banks, and SlimPay (2023) added European recurring payments capability. Recent executive hiring (Group CTO Randy Kern ex-Microsoft/Salesforce/Marqeta and Global CLO Chantelle Zemba ex-Deliveroo in April 2026) is directed at unifying European and US operations into a single global entity, even as US data-access friction from banks such as Wells Fargo and PNC raises near-term execution risk.
Trustly firmographics
Firmographics- Name
- Trustly
- Legal name
- Trustly, Inc.
- Website
- https://trustly.com
- Company type
- Private
- Founded year
- 2008
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Trustly is a Sweden-founded Pay by Bank (account-to-account) payment platform that uses a proprietary Open Banking stack spanning 12,000+ banks across 30+ countries to help enterprise merchants in eCommerce, financial services, gaming, and subscription billing accept direct bank payments with lower fees than cards.
- Ownership category
- akta.pro rank
Trustly industry classification
Industry- Product category
- Payment Infrastructure
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- A2A Checkout & Merchant Acceptance Solutions (FSAMAFAF)
- akta.pro secondary industries
- Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Open Banking APIs & Connectivity (FSAMAFAA), Open Banking, Account Aggregation & Payment Initiation APIs (BPAMAFAJ), ACH/Bank Transfer & Open Banking Payments (MPAEALAC)
Keywords
Where Trustly is headquartered
LocationHeadquarters
- HQ city
- Stockholm
- HQ country
- Sweden
- HQ region
- Europe
Offices3 records
Markets served
Trustly business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure
Revenue model
- Payment Processing Fees: Trustly charges merchants transaction fees for Pay by Bank payments, offering merchant fees up to 50% lower than conventional card-based systems according to Baltic region analysis.
- Trustly ID Identity Verification: Identity verification and KYC services powered by Open Banking data, enabling merchants to streamline consumer onboarding.
- Trustly Insights Data Services: Consumer spending pattern and affordability data services providing actionable insights for merchants to improve conversions.
- Open Banking Infrastructure: API-based access to Open Banking network connecting thousands of banks, positioning Trustly as key infrastructure player in digital payments ecosystem.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Standard Merchant Processing |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels5 records
Trustly product offering
Product offeringCore offering
Trustly provides a Pay by Bank (account-to-account) payment platform that lets merchants accept direct bank payments, verify consumer identities, send payouts, and access consumer spending insights through a single API. Its 100% proprietary Open Banking stack connects merchants to 12,000+ banks across 30+ countries, processing over $500 billion in cumulative payments. The suite includes core payment initiation, biometric identity verification, instant payouts, ACH connectivity, gaming-focused funding, and consumer analytics products.
Product overview
Trustly is a Pay by Bank (account-to-account) payment platform providing a unified suite of products with global reach. The core offering consists of Trustly Pay as the primary payment processing product, complemented by Trustly ID (biometric identity verification), Trustly Payouts (disbursements), Trustly Insights (consumer analytics), Trustly Connect (ACH functionality), and Trustly Scan & Pay (gaming-specific). These products share a common Open Banking infrastructure and API, enabling merchants to accept bank transfers, verify identities, send payouts, and gain consumer insights through a single integration. Trustly expanded its portfolio through the 2023 acquisition of UK-based Ecospend, strengthening its European Open Banking capabilities. The platform processes over $500 billion in payments and serves 120+ million consumers across 30+ countries, with solutions tailored for verticals including subscription/bill pay, consumer onboarding, eCommerce, financial services, gaming, and risk management.
Differentiator
Problem solved
Functional benefit
Products and services
- Trustly Pay The primary Pay by Bank payment solution enabling merchants to accept account-to-account payments directly from consumers' bank accounts with guaranteed payment and lower transaction costs than cards.
- Trustly ID Identity verification product that enables biometric authentication (Face ID, fingerprint) and bank-based identity verification to reduce fraud and streamline customer onboarding with instant login capabilities.
- Trustly Payouts
- Trustly Insights
- Trustly Connect
- Trustly Scan & Pay
- Subscription & Bill Pay
- Consumer Onboarding
- Trustly for Gaming
- Risk Management
- Partner Hub
- Ecospend UK-based Open Banking payments platform providing Open Banking connectivity for the UK market with over 80 banks connected and approximately 50 million consumer reach, acquired by Trustly in 2022.
Quantifiable outcome
- $60M+ in interchange costs eliminated for Fortune 50 telecom company
- +5 more outcomes
Companies that use Trustly
Customer profileNamed customers11 records
Segments6 records
Ideal customer profiles4 records
Trustly technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability7 records
Feature8 records
Trustly partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Finnish Banks (Trustly ID Pilot)coreTrustly launched Trustly ID pilot in Finland in partnership with Finnish banks, enabling customers to verify identity through their bank and log in using biometric authentication (Face ID/fingerprint). First pilots launched with full-scale rollout planned across Pay N Play markets.
- EcospendcoreTrustly acquired UK-based Open Banking payments platform Ecospend in May 2022 after FCA approval. Combined entity became the leading Open Banking payments company in the UK with over 80 banks connected and consumer reach of about 50 million. The acquisition aimed to accelerate market expansion in UK and Europe.
- Fifth Third Bank (Newline)coreFifth Third Bank's embedded payments platform Newline generated 53% YoY fee revenue growth in 2025, driven by strategic partnerships with fintech companies including Trustly. Trustly is integrated into Newline's infrastructure for ACH transfers, treasury services, and BIN sponsorship.
- Gaming Operators (US)coreTrustly enabled direct bank connections for US gaming operators, facilitating instant withdrawals, guarantees, and enhanced customer insights. Trustly's technology enabled faster transaction speed and improved risk assessment for online gaming payments, with John Parsons leading gaming initiatives.
Scale indicators11 records
Recent moves6 records
Expansion highlights7 records
Trustly competitors and assessment
Company assessmentDirect peers
- Plaid: Plaid is a leading open banking and account aggregation platform with deep bank connectivity across the US and Europe. Like Trustly, Plaid sits on top of bank APIs/data and serves merchants, fintechs, and financial services with connectivity, identity, and data products - making it the closest functional analogue to Trustly's infrastructure offering.
- TrueLayer: TrueLayer is a UK-based open banking platform offering account-to-account payments, identity verification, and financial data APIs across Europe. It directly overlaps with Trustly's Pay by Bank and Open Banking API proposition for merchants in markets including the UK and EU.
- Tink (Visa): Tink provides open banking connectivity, account-to-account payments, and financial data APIs across Europe, now owned by Visa. It competes head-to-head with Trustly in the European Pay by Bank and Open Banking infrastructure market.
Broad incumbents
- Klarna: Klarna is a leading alternative payment provider in Europe with Pay by Bank capabilities (Pay Now) alongside BNPL. Its scale and merchant reach in European e-commerce place it in the same competitive set as Trustly for European checkout payment alternatives.
- Stripe: Stripe is a global payments infrastructure giant serving millions of merchants with a broad product suite including card and emerging A2A rails. Trustly competes with Stripe at the checkout, especially for merchants seeking lower-cost non-card payment options.
- Adyen: Adyen is a major global payments processor offering unified online, in-store, and platform payment processing for enterprise merchants. Its enterprise merchant base and payments platform overlaps with Trustly's customer segment and value proposition of full-stack payment optimization.
- PayPal: PayPal operates a global digital payments network with bank-linked and wallet payment options serving both consumers and merchants. Its scale, brand reach, and recent expansion into instant/alternative payment methods position it as a broad incumbent competitive to Trustly.
- Worldpay: Worldpay is a large global merchant acquirer and payments processor serving enterprise merchants with comprehensive payment acceptance. Its payments-processing role for high-volume merchants overlaps with Trustly's incumbent positioning as alternative payment rails for enterprise commerce.
Emerging players
- Dwolla: Dwolla is a US-based A2A payment API platform enabling ACH bank transfers for businesses and fintechs. Its core focus on US bank-to-bank payments mirrors Trustly's Trustly Connect / Pay by Bank offering for North American merchants, though at smaller scale.
Regional players
- iDEAL (Currence): iDEAL is a Dutch A2A payment scheme that dominates online bank payments in the Netherlands, offering merchants a regional Pay by Bank option. It is a comparable A2A payments concept to Trustly Pay, though primarily serving the Dutch market rather than competing globally with Trustly.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Trustly social profiles
Digital presenceTrustly compliance and trust
Trust signalCompliance4 records
Trustly financial estimates
Financial estimateRevenue estimate
Valuation estimate
Trustly leadership team
Management profileNumber of profiles
Profiles15 records
Trustly subsidiaries and ownership
Company hierarchySubsidiaries2 records
Trustly funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Trustly M&A and investment
M&A and investmentM&A3 records
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Trustly
What does Trustly do?
Trustly provides a Pay by Bank (account-to-account) payment platform that lets merchants accept direct bank payments, verify consumer identities, send payouts, and access consumer spending insights through a single API. Its 100% proprietary Open Banking stack connects merchants to 12,000+ banks across 30+ countries, processing over $500 billion in cumulative payments. The suite includes core payment initiation, biometric identity verification, instant payouts, ACH connectivity, gaming-focused funding, and consumer analytics products.
Is Trustly a public or private company?
Trustly is a private company. It is classified as private equity controlled and is currently operating.
When was Trustly founded?
Trustly was founded in 2008. It employs 501 to 1,000 people.
Where is Trustly based?
Trustly is headquartered in Stockholm, Sweden, in the Europe region.
How does Trustly make money?
Four revenue lines are on record. Payment Processing Fees are the primary driver. The others are trustly ID Identity Verification, trustly Insights Data Services and open Banking Infrastructure.
Who are Trustly's main competitors?
Direct peers on record are Plaid, TrueLayer and Tink (Visa). Broad incumbents are Klarna, Stripe, Adyen, PayPal and Worldpay. Dwolla is listed as an emerging player. iDEAL (Currence) is listed as a regional player.
Does Trustly have an API?
Yes. Trustly offers a public API for developers to integrate Pay by Bank solutions. The API supports payment initiation, data retrieval, account verification, and identity verification. Documentation is available at amer.developers.trustly.com with SDKs for Android, iOS, React Native, and Web platforms. Core concepts include OAuth, idempotency, and tokenization. Developer documentation is at amer.developers.trustly.com.
What industry is Trustly in?
Trustly's product category is Payment Infrastructure. Its primary akta.pro industry code is FSAMAFAF, A2A Checkout & Merchant Acceptance Solutions, with a secondary code of FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout). Its NAICS code is 52232 and its SIC code is 6199.