Trustly

About Trustly

Trustly is an open banking company that moves money directly between a customer’s bank account and a merchant, with no card network and no wallet balance in the middle. It was founded in Stockholm in 2008 as Glue Finance, took the Trustly name as it scaled across Europe, and has been majority owned by Nordic Capital since 2018. In 2019 it merged with the Silicon Valley firm PayWithMyBank to enter the United States, and has since added Ecospend and SlimPay. It is a licensed payment institution supervised by the Swedish Financial Supervisory Authority, passported across the European Economic Area, and authorised by the Financial Conduct Authority in the United Kingdom.

Account to Account Payments

The core product is an account to account payment. The customer selects their bank, authenticates with their normal online banking credentials and the money moves directly. Nothing is stored with the merchant, there is no card to expire or be declined, and settlement is fast. Because these are bank initiated payments rather than card payments, they sit outside the card chargeback system, which changes the risk profile for operators.

Pay N Play

Pay N Play is the product that made Trustly a household name in iGaming. It collapses registration and deposit into a single step: the player deposits from their bank and the account is created from the verified bank data behind that payment, removing the traditional sign up form. It became a defining feature of the Nordic market and remains the clearest example of a payment method changing how an operator onboards players.

Reach and Coverage

Trustly connects to thousands of banks across Europe, the United Kingdom and North America, and works with large non gambling clients as well, including well known e-commerce and financial brands. That scale, and the mix of gambling and mainstream merchants, is part of what gives it standing with regulators and banking partners.

How Trustly Is Used

For operators, Trustly is usually chosen for three reasons: conversion, cost and verification. Removing the card step and, with Pay N Play, the registration form, lifts completion rates at the exact point where players drop out. Account to account economics are typically cheaper than card processing at volume. And because the payment carries verified bank identity data, it supports onboarding and know your customer processes rather than sitting apart from them. The trade offs are geographic, since coverage depends on bank connectivity and is strongest in the Nordics, parts of Europe, the United Kingdom and North America, and structural, since there is no card style chargeback mechanism, which suits operators but changes how disputes are handled.