Since its inception in 2008, Trustly has developed a comprehensive range of payment products and data solutions designed to streamline online transactions, ensuring they are swift, secure, and hassle-free. The company's rapid expansion has seen it collaborate with 9,000 businesses across 33 different markets.

In the UK, Trustly's growth has been particularly striking. The company reported a remarkable spike in transaction value during the first half of 2024, surpassing £13 billion – a notable leap from the £13.6 billion handled over the entire previous year. This impressive performance underscores the increasing popularity of open banking in the region, with approximately one in nine UK residents engaging with these services by October 2023.

Trustly's achievements reflect its successful engagement with both public and private sector entities, enabling organisations to elevate their service offerings for UK consumers. The company has also been bolstering its private sector partnerships, collaborating with prominent names like Hargreaves Lansdown, ITV, MoneyGram, and Booking.com.

Additionally, Trustly's acquisition of Ecospend in 2023 has further cemented its position in the UK market, contributing to its growing influence and market share.

Lord Chris Holmes of Richmond MBE, a Senior Adviser to Trustly, comments: “It is exciting to see Trustly continue to expand its presence in the UK market. The strength of Trustly’s partnerships across the private and public sector combined with the business’ exceptionally strong performance in recent months emphasises the accelerating adoption of open banking technology among consumers and merchants across the UK. The entire team at Trustly looks forward to continuing to provide our UK-based customers and partners with innovative payment solutions as we work towards making open banking payments a standard part of financial experiences.”

In a strategic move to bolster its presence in the UK market, Trustly has appointed Mitchell Powers as Senior Vice President for the UK. Powers joins Trustly from GoCardless, where he most recently served as Vice President and General Manager. This appointment underscores Trustly's commitment to expanding its footprint and enhancing its service offerings in the UK.

Mitchell Powers, Senior Vice President at Trustly UK, comments: “Joining Trustly, the outright leader in this industry, is a proud moment for me. The company has gone from strength to strength over the past 12 months. This is demonstrated by its tremendous growth, world-first product rollouts, and innovative solutions for major global brands. I'm excited to be joining Trustly for its vision, its clear differentiators and – most importantly – its potential to completely revolutionise the way people pay for things in the United Kingdom. Watch this space.”