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Key people at Trustly.
Trustly operates a global Pay by Bank platform, enabling direct, secure account-to-account payments for businesses and consumers. Its technology facilitates instant bank transfers, bypassing traditional card networks, and leverages Open Banking principles. This infrastructure provides businesses a direct connection to bank accounts, aiming for improved efficiency and reduced costs in digital commerce.
Founded in 2008 by Carl Wilsson, Joel Jacobsson, Lukas Gratte, and Alexandre Gonthier, Trustly's origin stemmed from identifying a need for a simpler, more secure online payment method. Their insight focused on utilizing existing bank infrastructure to offer a direct alternative to card-based transactions, creating a trusted experience for the digital economy.
Trustly serves diverse businesses, providing payment solutions enhancing conversion and accelerating funds settlement. Its platform integrates directly into banking systems across industries. The company's long-term vision focuses on establishing the leading global Pay by Bank network, transforming online payments and unlocking growth opportunities for merchants through a more efficient financial rail.
Trustly is a Swedish fintech company founded in 2008 that provides open banking-powered account-to-account (A2A) payment solutions, enabling consumers to pay merchants directly from their bank accounts without cards, apps, or registration.[1][2][5] It serves over 9,000 merchants across industries like e-commerce, gaming, and financial services, connecting them to 650 million consumers through 12,000 banks in 33 markets on three continents, processing $93 billion in annual transaction volume as of recent data.[2][3][4] Trustly solves key pain points in traditional card payments—high fees, fraud risks, slow settlements, and intermediaries—by offering faster, cheaper, more secure transactions with instant refunds, biometric authentication, and seamless integration.[2][5][6] Its growth momentum includes US entry via the 2019 PayWithMyBank merger, UK expansion through 2022's Ecospend acquisition, 2023's SlimPay partnership for recurring payments, and 2024 launches of AI-enabled recurring solutions, earning it a spot among CNBC's top 250 fintechs.[4]
Trustly was founded in 2008 in Stockholm, Sweden, by three entrepreneurs who envisioned smarter payments by eliminating card fees and middlemen, starting with instant payouts to Nordic banks.[1][2][5] This early innovation in direct bank transfers positioned Trustly as a pioneer; by 2011, its leadership advised the EU on Open Banking, influencing the PSD2 regulation that enabled Payment Initiation Services (PIS).[1][2] Pivotal moments include 2015 expansion to 21 markets, the 2019 merger with US-based PayWithMyBank for North American entry, 2020 pushes into Australia and Canada, and 2022's Ecospend acquisition to dominate UK Open Banking.[1][2][4] Under CEO Alexandre Gonthier, Trustly evolved from a regional payout provider to a global A2A leader, licensed under PSD2 in the EU/EEA, FCA in the UK, and state-regulated in the US.[1][3]
Trustly rides the Open Banking and A2A payments wave, accelerated by PSD2 in Europe and rising RTP adoption in the US (nearing 10% via partners like Cross River), shifting economies from cash/cards to direct bank transfers amid inflation-driven fee pressures.[1][2][7] Timing is ideal: post-pandemic e-commerce boom, regulatory tailwinds like PSD2/ECB support for PIS, and consumer demand for frictionless, secure digital payments—especially among younger demographics avoiding cards.[5] Market forces favoring Trustly include card scheme fee hikes, fraud surges (A2A cuts risks), and global expansion needs; it influences the ecosystem by partnering with giants (e.g., Coinbase, T-Mobile), shaping regulations, and enabling merchants to cut costs/boost loyalty in a $42B+ (2022) payments volume market.[3][4] As a bridge between Europe/US Open Banking, Trustly accelerates the cashless society, competing with but complementing card networks.[4][6]
Trustly is poised for accelerated global dominance in A2A, with Nordic Capital backing tech/organization investments to expand in high-growth regions like the UK and US.[4] Upcoming trends—AI-driven personalization, RTP ubiquity, and recurring payment mandates—will fuel its trajectory, potentially doubling volumes as merchants flee card dependency.[2][4][7] Its influence may evolve into a payments infrastructure backbone, powering embedded finance and influencing policy; watch for deeper Asia entry and more acquisitions. This builds on its founding vision: pioneering human-centric payments that started in Stockholm and now redefine global commerce.[2]
Key people at Trustly.
