Swedish online payments firms Trustly has agreed to combine operations with US counterpart PayWithMyBank.
The deal will enable US and Europe customers to make payments directly through their bank accounts instead of cards.
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In Europe, Trustly supports payments across bank accounts at more than 3,000 banks in 29 markets.
Apart from Sweden, the firm has presence in Finland, Spain, Malta, Germany and the UK. It employs 240 staff.
Meanwhile, PayWithMyBank enables one to pay directly from the merchant site, without the requirement to offer bank account or billing data.
PayWithMyBank founder and CEO Alexandre Gonthier said: “Our large, US-headquartered customers were all asking us to expand our consumer coverage globally beyond the US.
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By GlobalData“So, joining forces with Trustly, the established leader in our space in Europe, was a natural strategic next step for PayWithMyBank, the emerging leader in the US.”
At the combined group, Gonthier will assume the role of the US CEO.
Gonthier will manage the market development in the US.
Trustly CEO Oscar Berglund said: “This transformative merger creates the first and only online banking payments network with transatlantic coverage and accelerates our path towards global coverage.
“Alex was a co-creator of the online banking payments model in the year 2000 and we are very much looking forward to working with him and the impressive team at PayWithMyBank.”
In the new role, Gonthier will report to Berglund.
