Trustly

What Trustly Is

Trustly is a Pay by Bank provider built on Open Banking rather than on cards: the payer authenticates with their own bank and approves the payment there. The company was founded in Stockholm, where three founders set out to remove card fees and middlemen from online payments, and it dates its launch to 2008.

Who Regulates Trustly

Trustly publishes its own authorisations. Trustly Group AB, corporate identity number 556754-8655, is an authorised Swedish payment institution supervised by the Swedish Financial Supervisory Authority, Finansinspektionen, and conducts payment services under the Swedish Payment Services Act (2010:751) and Directive (EU) 2015/2366 (PSD2), which lets it provide cross-border payment services within the EU and EEA. Trustly UK Limited is an Authorised Payment Institution regulated by the UK Financial Conduct Authority under the Payment Services Regulations 2017, firm reference number 1005703, and Ecospend Technologies Limited is likewise FCA-authorised under firm reference number 829713. SlimPay SA is a payment institution registered in Paris under number 518991336 and supervised by the Autorité de contrôle prudentiel et de résolution. For the United States, Trustly states only that it is state-regulated as required to serve its target markets, and names no individual state licence.

How Trustly Reached North America

Trustly describes its arrival in the United States as a merger rather than a purchase: its merger with PayWithMyBank connected Open Banking businesses in Europe and the U.S. and, in its own words, built the first worldwide Pay by Bank network. The same account credits the acquisition of Ecospend with strengthening its UK position, and a later acquisition of SlimPay in France with expanding recurring payments across Southern Europe.

Where Trustly Operates

Trustly gives a count rather than a list: more than 9,000 merchants in more than 30 markets, 650+ million consumers and 12,000 banks, with nearly $100 billion in total payments value in 2024. It is headquartered in Stockholm with offices in Örebro, Gzira, London, Helsinki, Barcelona, Lausanne, Luxembourg, Lisbon, Izmir, Ottawa, San Carlos and Vitória, and names customers in both Europe and North America. Because Trustly names a count and not the markets themselves, no market list is given here.

Trustly and Gambling

Unusually for a payment provider, Trustly sells to gambling operators openly. Gaming is one of its named industries, it describes its European network of local bank accounts and instant payment schemes as built to serve gaming companies, and it publishes a customer quote from Evoke covering the William Hill, Mr Green and 888 brands. On its gaming payouts it gives a coverage figure rather than a footprint: Trustly states that its Smart Routing engine ensures more than 95% instant payout coverage across 30 European markets. Its Pay N Play flow combines deposit, onboarding and identity checks in one step, the pattern casinos market as "pay and play", and Trustly names the markets it is available in on that same page; the list is not reproduced here, because a product's availability changes and a list copied into a paragraph would not be re-checked when it does. In North America, Trustly names FanDuel among its brand collaborations. Those brands are named because Trustly names them, as evidence of who it sells to rather than as a recommendation of anywhere to play: this page records no licensing position on any of them, and whether an operator is licensed to take a reader's money is settled by that market's regulator and not on a payments page. Trustly publishes no prohibition on gambling merchants.

Fees and Timings

No consumer fee and no deposit time are given here. Trustly publishes no player-facing fee — what a deposit costs is set by the casino and the payer's bank — and its deposit speed claims are merchant-facing marketing figures rather than a published service level. Neither is restated.