Trustly Brings New Payment Options to Alpha Fintech’s AlphaHub Platform

European online payments innovator Trustly is celebrating its tenth birthday this week by partnering with Alpha Fintech. The deal will make Trustly’s payment solutions available to international banks, MSPs, and merchants using Alpha Fintech’s AlphaHub platform.

“Trustly wants to make account-to-account payments simple and secure for merchants and their customers,” Trustly Director of Partner Sales, Adam D. Bowman, said. “Partnering with Alpha Fintech supports this strategy thanks to Alpha Fintech’s one simple API, through which merchants can now access Trustly’s payment functionality. Alpha Fintech’s significant international reach will also enable Trustly to reach new merchants.”

The new partnership means that when customers choose Trustly during the checkout process, and indicate their preferred country, they will be shown a list of local banks partnered with Trustly that are able to offer real-time bank transfers. Customers choose their bank, log into their online banking platform, enter the amount of the payment, and confirm.

Chief Product Officer at Alpha Fintech Rónán Gallagher added “As more customers turn to bank-based payment methods, through the AlphaHub merchants will be able to offer this key payment method in markets as diverse as Australia, Singapore, and now 29 countries in Europe via a single integration providing a consistent user experience,”

Founded in 2008 and headquartered in Stockholm, Sweden, Trustly facilitates online payments for consumers in 29 European countries. Surpassing €10 billion in total processed volume last year, as well as launching its Direct Debit and Pay N Play products, Trustly was acquired by Nordic Capital this spring. 2017 also marked the return of Trustly to the Finovate stage, as the company demoed its Direct Debit solution at FinovateEurope.

Recognized earlier this year by The Financial Times as one of the fastest growing companies in Europe, Trustly partnered with German open payment platform optile in March, the same month the company furthered its expansion plans in Germany by earning TUV-certified status for legal data protection and IT security for its online banking e-payments method. Trustly began the year forging an agreement with Latvian national airline airBaltic that will enable customers to buy tickets directly from their bank accounts.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Nordic Capital Fund Acquires Majority Share of Trustly

Payment solutions innovator Trustly announced today that Nordic Capital has taken a majority stake in the company. Trustly anticipates this move will assist in its journey to become the leading global online banking payments provider.

Nordic Capital will acquire Sweden-based Trustly from Bridgepoint Development Capital and other shareholders. Additional investors, including Trustly management, founders and investment company Alfvén & Didrikson, will remain significant shareholders in the company. The terms of the deal, which is subject to regulatory approvals, were not disclosed.

In a press release, Trustly CEO Oscar Berglund noted that online banking-based payment solutions are only in “infancy” and that the company seeks to “make it easier, safer and quicker for both consumers and merchants to make payments online.” He added that Nordic Capital’s support will be of great value as Trustly grows. As one of Europe’s largest private equity investors, Nordic Capital has indeed proven to be quite valuable to other fintechs in the space. In fact, the firm helped transform payment platform Bambora into a global payment market leader and also boasts a successful investment in Point, a payment terminal software company.

Fredrik Näslund, Partner and Advisor to Nordic Capital said, “Nordic Capital views Trustly as a highly strategic payment platform with unique capabilities. We intend to support the management team and founders in the journey to becoming the global account-to-account infrastructure player by providing capital and experience from our previous successful investments in payments.”

Adding to the accolades, Johan Dahlfors, Partner at Bridgepoint Development Capital said, “Trustly is very well placed to continue its strong growth trajectory in a structurally growing market with long-term tailwinds for real-time, account-to-account payments.”

At FinovateEurope 2017, Trustly debuted Direct Debit, a payment offering that removes the pain of entering payment card information by allowing users to transact using their current account by entering their bank login credentials.

In a separate release this week, Trustly announced it teamed with Z.com to serve as a payment option. Last fall, the company teamed with Qliro and in May of 2017, Trustly partnered with online fashion retailer Boozt.com, just after announcing its expansion into the U.K.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Trustly Teams Up with Emric to Broaden Payment Options for Businesses

Instant payments and real-time authentication checks are coming to business clients of Nordic software provider Emric courtesy of a new partnership with Trustly.

Emric CEO Pedram Tadayon pointed to Trustly’s strong presence in Europe as a key feature of the new relationship with the Swedish payments innovator. “Our ambition is to act as a single platform provider for online banks and financial institutions and with that comes the demand of pre-existing integrations to leading FinTech providers in Europe, where Trustly is one of the strongest players,” Tadayon said.

Trustly’s technology will help Emric clients – financial institutions that develop and manage loans, mortgages, asset finance, and leases – lower the risk of fraud and missed payments, as well as provide end users with easier application and repayment processes. This will enable these FIs to pursue more aggressive growth strategies, a point noted by Trustly CEO Oscar Berglund. “Emric has grown rapidly over the past few years, bringing new payment solutions to more than 60 businesses in 24 countries,” Berglund said. “Our technology enables Emric’s clients to access a new market with millions of potential new customers across Europe.” Emric is a part of Nordic software and services specialist Tieto, which acquired the company last fall.

Founded in 2008 and headquartered in Stockholm, Sweden, Trustly demonstrated its Direct Debit solution at FinovateEurope 2017. The company provides cross-border payments between bank accounts at more than 3,000 banks in 29 markets in Europe, and connects businesses and consumers in verticals including financial services, e-commerce, and travel. In August, Trustly partnered with ecommerce payment provider Qliro, becoming a permanent online banking option for Qliro’s Qliro One. In May, the company announced a deal with Nordic online fashion retailer, Boozt.com.

Trustly has been recognized as one of Europe’s fastest-growing companies by both the London Stock Exchange and The Financial Times. The company has raised more than $27 million (€23 million) in total funding and includes BDC Venture Capital and Bridgepoint among its investors.

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.