Sweden’s next fintech IPO: Who is Trustly?
According to Reuters, Trustly’s parent company, , is working closely with JP Morgan, Goldman Sachs, Carnegie, and potentially even more banks as it strives to launch in April/May. All named parties have declined to comment at this time, however.
Transforming digital payments
Founded in 2008, Trustly is a payments platform facilitated through and . Customers are able to use the service to pay online directly from their bank account and without needing their card or a dedicated app.
- Select ‘Trustly’ at the online checkout.
- Choose your bank and log-in.
- Confirm the account you’d like to pay from.
- Select your preferred payment method and form of authentication (password, biometrics, etc).
Users can accept payments, issue payouts and gain insights into spending from collected data. Designed for easy activation and multi-currency functionality, business customers can easily gain access to markets in Europe, North America and Oceania. Available merchant products include:
“We’re helping forge alignment between consumer needs, emerging payment technologies and Open Banking standards. We’re literally engineering the future of payments, fintech and open banking. Our platforms are transforming the check-out experience. And we’re making online banking payments the center of a game-changing ecosystem for merchants.”
Bolstering its leadership team with executives from the cream of the Big Tech and financial services crop - including , CFO (formerly of Veoneer); , Board of Directors (Spotify, Ericsson, and NASDAQ); , VP (PayPal and Facebook); and Michelle Tien, VP (Citigroup, S&P Global, and AmEx) - the company’s market expertise is far-reaching and comprehensive.
Already working with 7,600 banks in Europe and North America, Trustly’s position as a digital payments leader is firm. The confirmation and success of its IPO could be one of 2021’s most significant fiserv events, as the enduring popularity of digital payments in the post-COVID-19 world gains momentum.
Image source: Trustly
Tink partners with Novalnet AG for open banking payments
The Munich-based fintech Novalnet AG, which was founded in 2007 and is one of Europe’s leadingfintech companies, has announced a new partnership with Tink, the Swedish open banking platform currently connected to more than 3,400 European banks.
Novalnet AG delivers payment solutions and fully automated services, from checkout to debt collection. Its solutions are also available worldwide.
According to reports, the fintech company plans to launch a real-time payments feature for merchants across Europe, to expand its current services and enhance the transaction experience it operates through its platform.
The new feature, says Novalnet, will revolutionise payments for ecommerce with transactions being credited to merchant’s accounts almost instantly.
Novalnet partnership with Tink
By partnering with Tink for payment initiation services (PIS) technology, Novalnet will take previous region-specific payment methods and offer a new unified digital payments service to its merchants across Europe.
The fintech’s real-time merchant payments feature, which will be launched initially in Germany and the United Kingdom, will then be integrated across other European markets during 2021.
Speaking about the new collaboration, Emmanuel Kirse, COO of Novalnet, explained, "We expect great things from our strategic partnership with Tink, which is a significant development for both parties.
“With Tink, Novalnet can offer a new set of open banking-related solutions in Europe. The new opportunities offered by this partnership will help both Tink and Novalnet grow together, along with our merchants."
Cyrosch Kalateh, Regional Director for the DACH region at Tink said, “Our partnership with Novalnet is a big step for Tink in the German market, and we are excited to work together to bring new, innovative payments services to merchants across Europe.”
He added, “At the end of 2020 Tink committed to expanding its payment initiation services from five to 10 markets, fuelled by an €85mn investment round. We are proud to add Germany to this list by announcing we have now fully launched Tink’s PIS services in this market.”
Image credit: Novalnet AG