Trustly
Trustly is a Swedish-founded payments company that provides Pay by Bank and Open Banking services for businesses and consumers.
Last updated September 25, 2026
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Overview
Trustly is a payments company focused on Pay by Bank: online payments made directly from a consumer’s bank account. The company says it was founded in 2008, when three founders in Stockholm set out to make online payments simpler and reduce reliance on card fees and intermediaries. Its early service enabled merchants to send payouts directly to customers at Nordic banks, with funds arriving in seconds. Trustly describes its subsequent work as part of the development of instant payments and Open Banking in Europe. The company’s current offering uses bank connections and Open Banking technology to let consumers make or receive payments and, where authorized, share financial information with merchants or service providers. Trustly presents its Pay by Bank services as a way for businesses to simplify checkout, reduce payment costs, support instant account funding, and access bank-account data for onboarding, identity verification, underwriting, and risk decisions. Its financial-services offering includes payment initiation, account validation, consumer onboarding, and financial insights. The company also describes a proprietary risk engine and machine-learning risk controls. Trustly serves businesses and consumers across multiple markets. Its website describes the company as operating in 33 markets across three continents, serving more than 9,000 customers, and having a network of more than 12,000 banks. The homepage separately describes a network with more than 110 million users across more than 30 countries; the company’s About Us page refers to more than 100 million people and a consumer reach of 650 million. These are figures reported by Trustly on its website and are presented there with different labels. Trustly’s positioning emphasizes payment experiences it characterizes as simple, smart, secure, and fair, and contrasts direct bank payments with card-based processing and intermediaries. The company’s About Us page reports more than 900 employees and annual transaction volume of $100 billion. The supplied materials do not establish its current headquarters, ownership, parent company, founders’ names, or listed status.
History
Trustly says it began in 2008, when three founders in Stockholm set out to make payments simpler by removing card fees and middlemen. The company’s account of its early history describes a service that initially enabled payouts from merchants to customers at a handful of Nordic banks. It says those direct transfers delivered funds in seconds, bringing speed and certainty to merchant-to-consumer payments. Trustly describes its next phase as the expansion of online bank payments in Europe. According to its About Us page, it became one of the first companies in Europe to automate instant payments, a development later formalized as Payment Initiation Services (PIS). The supplied page presents the company’s journey in date ranges—2008–2012, 2013–2015, 2016–2018, 2019–2021, and 2022–2024—but the available excerpt does not provide the detailed events assigned to each period. Specific acquisitions, leadership changes, and market-entry dates are therefore not established by the supplied evidence. Trustly’s present-day business centers on Pay by Bank and Open Banking services. Its consumer-facing explanation describes Open Banking as a way for consumers to share selected financial information securely with merchants or service providers through APIs, and to make payments directly from bank accounts. For businesses, Trustly describes uses including payment acceptance, instant funding, account and identity verification, consumer onboarding, and access to bank data for underwriting and financial insights. The company also presents proprietary bank connections and risk controls as components of its service. The company’s current scale claims vary by webpage and by metric. Its About Us page reports service in 33 markets across three continents, more than 9,000 customers, a network of more than 12,000 banks, more than 900 employees, and $100 billion in annual transaction volume. The homepage describes more than 110 million users across more than 30 countries, while About Us also refers to more than 100 million people and a consumer reach of 650 million. These figures are reproduced as Trustly’s own website claims, not independently verified measures. The supplied evidence does not name the three founders or establish Trustly’s present headquarters, corporate ownership, or listed status.
- 2008
Trustly founded in Stockholm
Early Nordic payout service
Expansion of automated instant payments
Products and positioning
Positions Pay by Bank as a direct, simple, and secure alternative to card-based online payments, with potential benefits for conversion, payment costs, onboarding, and financial-data-informed services.
Pay by Bank
A payment method that lets consumers pay directly from a bank account.
Trustly Insights
A financial-services offering that uses real-time bank data to support underwriting and decision-making.
Consumer Onboarding
A service described as retrieving verified account and identity data from consumer bank accounts to support onboarding.
Payment Initiation
An Open Banking capability for initiating payments from bank accounts.
Recent events
Luckbox agrees payment partnerships with Skrill, NETELLER, ecoPayz and Trustly[5]
Reported:
Real Luck Group Ltd. and its Luckbox subsidiary announced signed agreements with Skrill, NETELLER, ecoPayz and Trustly to offer customers payment options in more than 100 countries.
- Unconfirmed
Trustly enters Australia and Canada[6]
Reported:
Trustly expanded into Australia and Canada, adding coverage in those markets to its online banking payments network.
Sources6 sources
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