Paris (France), August 29, 2023 – Trustly, a global payment method, today announces that it is joining forces with SlimPay, a European leader in recurring payments, to set a new standard in recurring payments for merchants and consumers across Europe and the UK. SlimPay’s platform combined with Trustly’s proprietary technology will together bring a new, exceptional payment experience to the region.
Trustly’s acquisition of SlimPay will facilitate error free payment registration, better conversion and flexibility, enabling consumers to pay bills, subscribe to a service or opt for flexible payment plans. The product synergy will create an intuitive payment process for consumers leveraging the best of Trustly’s Account-to-Account (A2A) technology and SlimPay SEPA direct-debit capabilities.
In 2022, Direct Debits totaling over €10 trillion were collected across Europe, with 80% of these transactions occurring in markets where Trustly and SlimPay have combined operations. The combination will add to Trustly’s existing modern Direct Debit capability in the UK and Sweden and provide a comprehensive pan-European recurring payments service. Trustly and SlimPay will together improve the payments process for merchants and consumers in the Single Euro Payments Area (SEPA), including Germany, France, Spain and Italy.
The acquisition of SlimPay comes shortly after the successful launch of Trustly Azura, a revolutionary new technology and data engine that will improve the payments experience for merchants and consumers through personalisation and data optimisation. By adding SlimPay’s recurring payments and its sophisticated data interface to its offering, Trustly expects to further accelerate the roll-out of Azura.
Johan Tjärnberg, Group CEO of Trustly, comments: “We are thrilled that SlimPay is joining Trustly. SlimPay’s SEPA solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard. The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“
Jerome Traisnel, CEO of SlimPay, adds: “Together with Trustly, we will bring a new, streamlined payment experience to the European recurring payments space, creating an unrivalled network of merchants and consumers across the entire repeat payment economy. We look forward to working with Trustly to build an innovative and comprehensive platform across Europe.”
SlimPay, founded in 2010, is a European leader in recurring payments, offering digital payment solutions through innovative technologies to merchants and consumers across utility, financial services, and retail sectors. SlimPay is an authorised payment institution under ACPR supervision.
The transaction is subject to customary regulatory approvals. The parties have agreed to not disclose any financial details.
About Trustly
Trustly is a global payment method. We link the world’s top brands with millions of consumers who instantly transfer, pay, and get refunded in the most secure and convenient way. We forged a path for Open Banking, leading from the front to create a world-class platform where we innovate beyond the sector we inspired. We handle the entire payment journey at an unmatched scale, transforming the performance and experience of payments for over 8,300 merchants in 30+ markets, connecting them to 650+ million consumers through 12,000 banks.
We are a licensed Payment Institution under the second payment services directive (PSD2). We operate under the supervision of the Swedish Financial Supervisory Authority in Europe and through the Temporary Permissions Regime (TPR) under the Financial Services Authority in the UK. In the US, we are state regulated as required to serve our target markets. Read more about Trustly, the modern way to pay now, at www.trustly.com.
About SlimPay
SlimPay is a leading European Account-to-Account (A2A) payment fintech serving top merchants with recurring payment needs. We simplify merchants’ financial processes. We connect merchants directly to their customers, manage payment plans and automate collection of Variable Recurring Payments. We facilitate customer acquisition, increase customers lifetime value and maximize merchants’ revenue—through SEPA Direct Debit and Open Banking capabilities.
We serve 2,000 merchants in 20+ countries across several industries, such as Utilities, Insurance, Transportation, Media, Fitness, and Financial Services.
We are a licensed Payment Institution under the second payment services directive (PSD2). We operate under the supervision of the French banking regulator (ACPR) in Europe. Read more about SlimPay, the enabler of the repeat economy, at www.slimpay.com
Holding statement
We are joining forces with SlimPay to set a new standard for recurring payments for merchants and consumers across Europe. The collaboration will add to Trustly’s existing modern direct debit capability in the UK and Sweden and allow us to provide a comprehensive pan-European recurring payments service, in line with our strategic priorities to expand geographically in targeted markets. Trustly and SlimPay will together improve the payments process for merchants and customers in the Single Euro Payments Area (SEPA), including Germany, France, Spain and Italy.
