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Online Payments

Trustly, PayWithMyBank merge for transatlantic online banking payments coverage

Thursday 13 June 2019 | 12:02 PM CET

Trustly has announced that it is merging with US-based online banking payments provider PayWithMyBank.

The two companies will enable merchants with a global footprint to accept online banking payments from European and US consumers. According to the press release, the merger addresses the needs of merchants to have an alternative to the card networks and accept online payments directly from consumers’ bank accounts, and for consumers to be able to pay in a simple way.

In many European markets, consumers are used to paying directly with their bank account and the payment method is currently also emerging in the US as an alternative to credit cards.

Trustly, as part of its product offering, holds merchant funds and is a licensed payment institution while PayWithMyBank does not hold any merchant funds. The shareholders of PayWithMyBank are joining the shareholders of Trustly in the merged group.

For more information about Trustly, please check out a detailed profile of this company in our dedicated, industry-specific online company database.

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