TRUSTLY GROUP AB

Payment service provider · Stockholm, Sweden

The register calls Trustly a bank. It is not one: Trustly Group AB is an authorised Swedish payment institution, corporate identity number 556754-8655, supervised by Finansinspektionen. What it sells is Pay by Bank. A merchant embeds Trustly at checkout, the customer authorises a transfer straight from their bank account, and money moves without a card network in the middle. The same rails run the other way for payouts and refunds, plus account verification data services and recurring payments. Trustly reports 9,000 merchants, 33 markets, 12,000 banks in its network and about USD 100 billion of annual transaction volume. Merchant verticals include travel, e-commerce, subscriptions, utilities, financial services, public sector and gaming.

Legal name: Trustly Group AB
Regulated by: Finansinspektionen (Sweden: Trustly Group AB, authorised payment institution, corporate identity number 556754-8655), Financial Conduct Authority (UK: Trustly UK Limited firm reference 1005703 and Ecospend Technologies Limited firm reference 829713), ACPR (France: SlimPay SA, payment institution 518991336)
Licence confirmed: yes, on a regulator's own list
Established: 2008
Website: www.trustly.com

Scores, 0 to 10

7.5Europe (EU, EEA, Switzerland)

Trustly Group AB is an authorised Swedish payment institution under PSD2 able to passport across the EU and EEA, with dedicated site sections for Germany, France, Italy, Spain, the Netherlands, the Nordics and the Baltics. · source

7.0United Kingdom

Two FCA-authorised UK payment institutions, Trustly UK Limited (1005703) and Ecospend Technologies (829713), with UK payment limits published and open banking travel volume growing 230% in 2025. · source

7.0Online businesses: e-commerce and SaaS

E-commerce is a core vertical with pay-ins, instant payouts, refunds and recurring payments, and Trustly reports 9,000 merchants and 650 million consumer reach. Subscription services is a named vertical with recurring payments built to cut failed card payments, and developer docs are public; there are no receiving accounts or financing. · source

6.5United States

Trustly Inc., the Americas division, reported USD 92.5 billion of total payments value to date and partnerships with BNY Bankify, Newline by Fifth Third and Coinbase, but Trustly holds no US bank charter. · source

6.5Fintech companies that need a partner bank

Financial services is a named vertical and Trustly supplies rails to banks and fintechs including BNY Bankify and Newline by Fifth Third, but it offers no safeguarding accounts or BIN sponsorship. · source

5.5Financial strength & stability

Authorised in Sweden, the UK and France with 900 employees and about USD 100 billion of annual volume, but privately held with no published accounts or credit rating. · source

5.5High-risk verticals (iGaming, cannabis, adult, forex)

Gaming is an openly served vertical with a page promising to scale a player base in Europe, but Trustly publishes no policy on adult, cannabis or forex merchants. · source

5.0Canada

Canada has its own English and French site sections under the Americas region, but no Canadian licence is named in the regulatory footer. · source

4.5On-ramp: buy crypto with fiat

The US and Canadian subsidiary Trustly, Inc. lets Coinbase users deposit from their bank accounts (Canada since 2023, US named in 2024), but a Worldline integration guide lists crypto exchange platforms among industries Trustly will not serve, and CEX.IO says most crypto platforms do not support Trustly. · source

4.5Off-ramp: crypto to fiat in a business account

Coinbase users in Canada can withdraw from their crypto account to their bank through Trustly since 2023, but this is consumer payouts for one exchange in North America, and the European reseller terms exclude exchange platforms. · source

4.0Latin America, Africa & South Asia

Brazil has its own Portuguese site section under the Americas region, the only emerging market with a dedicated presence; no local licence is named. · source

4.0Crypto-friendly bank

Coinbase is named as a Trustly Inc. partner for funding accounts, but Trustly publishes no policy on onboarding crypto exchanges or VASPs as merchants. · source

4.0Lowest fees

Trustly markets Pay by Bank as cheaper than cards but publishes no rate card; pricing comes through Contact sales. · source

4.0Fast digital onboarding

Merchants start with a Get started or Contact sales form; no self-service signup and no published time to go live. · source

4.0Customer satisfaction

Trustpilot shows 2.8 out of 5 from 3,368 reviews for trustly.com; most reviewers are consumers who met Trustly at a merchant checkout. · source

3.5Cross-border payments, FX and multi-currency accounts

Payments run in 33 markets on local bank rails, but Trustly publishes no currency list, no FX margin and no multi-currency account. No multi-currency accounts, cash pooling or hedging; Trustly is a payment rail, not an account provider. · source

3.5Startups & VC-backed companies

The offering targets established merchants with volume; there is no startup programme, no self-serve tier and no financing. · source

3.5Foreign-owned & non-resident companies

Merchants are onboarded market by market across 33 markets, but Trustly publishes no policy on foreign-owned or non-resident companies. · source

2.0Best interest on business balances

Trustly holds no customer balances as an account provider and offers no interest or treasury product. · source

1.0Trade, manufacturing & import-export

No letters of credit, guarantees or supply-chain finance; Trustly initiates consumer-to-business bank payments. · source

1.0Business cards (Visa, Mastercard)

Trustly issues no cards at all; its whole pitch is removing the card network from the payment. · source

1.0Crypto wallet and custody for a business

Trustly is a pay-by-bank payment institution that moves money between bank accounts and holds no funds or crypto for users or merchants, checked September 2026. · source

1.0Accept crypto payments

Trustly offers account-to-account bank payments only and no crypto or stablecoin acceptance for merchants; no crypto product appears in its 2025-2026 announcements, checked September 2026. · source

1.0Bitcoin

Trustly offers no bitcoin buying, holding or transfers; it only moves fiat to and from the few exchanges it serves, checked September 2026. · source

1.0Ethereum

Trustly offers no ether product of any kind, checked September 2026. · source

1.0Stablecoins (USDC, USDT and others)

No stablecoin accounts, payouts or settlement network membership was found in Trustly announcements, checked September 2026. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.