Trustly
Also a provider — view Trustly’s profile →“Can a proprietary open-banking Pay by Bank network displace card rails for high-volume merchants globally by combining instant A2A payments, data-driven KYC, and smart routing — at lower cost than Visa/Mastercard?”
Founded in 2008 as a European bank-transfer payment alternative to cards, Trustly built a proprietary open banking stack connecting to thousands of banks across Europe. The company expanded into the US market and achieved unicorn status in 2020 via a BlackRock-backed round. It has since evolved from a pure-play payment initiation company into a broader Pay by Bank network offering payouts, open-banking data/KYC (Trustly ID), and account information services — growing through acquisitions of Ecospend (UK) and SlimPay (EU) to deepen its AIS/PIS licensing footprint. In 2023 it processed $58 billion in transactions with 9,000+ merchant clients globally.