Trustly, a leader in open banking solutions, has completed its acquisition of SlimPay, a prominent player in the European recurring payments sector.
Trustly, hailing from Stockholm, is known for its innovative approach to payments, servicing international brands like eBay, Booking.com, and AirFrance-KLM. On the other hand, Paris-based SlimPay is renowned for its strong relationships with significant brands across various sectors including utilities, insurance, transportation, media, and fitness.
This strategic acquisition aims to redefine the recurring payment landscape across Europe. While the financial details of the deal have not been disclosed, the merger is a significant step in Trustly’s growth strategy, enhancing its open banking-enabled, pan-European recurring payments service.
The acquisition follows Trustly’s successful launch of Trustly Azura, a state-of-the-art payments engine that enhances user experiences through personalization and data optimization. The integration of SlimPay’s capabilities is expected to augment Azura’s network effect, providing a more efficient payment process for a growing customer base.
Group CEO of Trustly, Johan Tjärnberg, said, “SlimPay’s unique product capabilities, fused with Trustly’s innovative technology, are a game-changer for recurring payments in Europe. Our alliance synergizes Trustly’s expansive reach and SlimPay’s specialized expertise, creating a comprehensive, pan-European offering that already has attracted top-tier global brands.”
SlimPay CEO Jerome Traisnel commented, “Merging with Trustly is a milestone in innovating recurring payment systems. Our combined capabilities will significantly enhance billing and subscription services, offering customers unparalleled efficiency. This collaboration paves the way for supporting more global brands and leading innovations in the industry.”
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