When you think of Trustly as an online payment method, you should think of an engine that drives an entire vehicle. Trustly is not a stand-alone payment method like Skrill or credit cards. Instead, the software infrastructure drives such transactions by enabling open banking.
The company was founded in 2008 in Sweden. The brains behind the revolutionary idea were Carl Wilson, Lukas Gratte, and Joel Jakobsson. It has since expanded its operations across Europe and the United States. They also launched operations in Australia in 2021 and reached $230 million in revenue with over 650 employees. The company headquarters are in Stockholm, Sweden.
Trustly began by enabling just bank transactions. Today, it has brought over 8,000 merchants to this fold of safe and secure payments. It is used by sellers like Alibaba, Facebook, eBay, Dell, Transferwise, and UNICEF. More than 525 million buyers use Trustly to pay from their bank accounts, a figure larger than that of card users. The company works with more than 6300 banks in its areas of operation.
It is a payment method that many sportsbooks are adopting, especially with the growth of esports betting.