Trustly Expands in Italy with 63% Transaction Growth and New Partnerships Driving Open Banking Innovation

This growth surge is fueled by a wave of new partnerships and a rising number of merchants

21 November 2024 - Milan: Trustly, the global leader in Open Banking payments, is solidifying its presence in Italy with a remarkable 63% year-on-year increase in transactions. This growth surge is fueled by a wave of new partnerships and a rising number of merchants embracing Trustly’s innovative payment technology to meet the demand for faster, more secure transactions.

As a pioneer in account-to-account payment technology, Trustly leverages Open Banking to offer both consumers and businesses a comprehensive suite of payment and data solutions. These include instant payouts and SEPA Direct Debit, leveraging AIS technology to verify bank accounts and support digital mandate signatures, providing a fast and secure alternative to traditional payment methods like cards.

Since its founding in 2008, Trustly has seen rapid growth, partnering with over 9,000 businesses across 33 markets. In Italy, this includes major brands like UnipolMove and Subito.it, as well as global names such as PayPal, eBay, Microsoft and Electrolux.

Trustly has also integrated with Italy’s leading banks including Intesa Sanpaolo, UniCredit, Poste Italiane and BNL. These partnerships mean most Italian banking customers can already connect to Trustly’s infrastructure, opening its new technology up to millions of consumers across the country. Using Trustly means customers could receive much faster, simpler and more secure payouts from merchants compared to using traditional banking infrastructure.

Jussi Lindberg, Chief Revenue Officer of Trustly, comments: “We’re thrilled with our recent growth in the Italian market as demand for instant payments continues to grow. There has also been a significant increase in merchant interest in our products in recent months, making it the ideal time to significantly expand our presence in Italy.”

Following this rapid expansion, Trustly has appointed Alessandro Biolchi as Head of Italy, leading the firm’s market strategy and client relationships in the country. As a strategic growth market for Trustly in Southern Europe, the business is also launching a new Italian website www.trustly.it to support the next phase of its expansion.

Alessandro Biolchi, Head of Italy at Trustly, said: “Payment systems in Italy are in need of modernisation. Greater adoption of account-to-account payments would simplify shopping for both merchants and customers. We believe our Open Banking technology can help businesses lower translation fees, speed up payments, and help reduce fraud. We’ve also recently launched a new AI-enabled recurring payments solution that is designed to improve how merchants handle repeat or subscription payments through a single integration which we believe could prove popular with Italian businesses.”

Trustly has developed the world’s largest bank payment network, uniquely capable of recognizing returning users across merchants and markets. As part of this expansion, Trustly is preparing to introduce a new recurring payment experience tailored for the Italian market, which they will be discussing at the Salone dei Pagamenti from November 27th to 29th.

For more information, please contact:
Trustly Press Office, press@trustly.com