Trustly Merges With PayWithMyBank Creating Global Banking Payments Network

Swedish payments fintech Trustly announced on June 14, 2019 that it would merge with PayWithMyBank, a US-based online banking payments provider. The merger creates a unified global online banking payments network spanning both European and American markets. The combined entity had 2018 revenues exceeding $120 million, underscoring the scale of the operation.

Trustly specializes in enabling merchants and financial institutions to accept direct bank payments without cards, a core embedded finance capability. PayWithMyBank brings equivalent functionality and established relationships in the US market. The deal allows the merged company to offer merchants a single integration for bank-to-bank payments on both sides of the Atlantic.

This merger is strategically significant as it positions the combined entity as a leading alternative to card networks for online commerce, leveraging open banking infrastructure to embed payment initiation directly into merchant checkout flows.