Trustly Surpasses 120 Million Users in Industry-Leading Milestone for Pay by Bank

WHY THIS MATTERS: This 120 million user milestone is not merely a vanity metric for one firm; it represents a critical inflection point in the shift toward global Account-to-Account (A2A) payments. The sheer scale of adoption, particularly in markets like the US where 100 million consumers have already authorized bank data access, confirms that Open Banking is moving far beyond regulatory compliance to become a primary commercial driver for merchants and platforms. As the payments ecosystem accelerates toward instant settlement, the fight is no longer about accepting digital payments, but about providing the most frictionless and reliable flow of value directly from a consumer’s bank account. This scale validates the industry’s investment in direct bank connectivity, signaling a serious and structural challenge to legacy card networks and their associated interchange fees. It suggests a future where consumers prioritize secure, real-time control over their funds.

Trustly, the global leader in Pay by Bank, today announced it has surpassed 120 million users globally, representing a significant milestone in the adoption of Pay by Bank technology.  

Trustly’s rapidly growing user base reflects the increasing adoption of Pay by Bank seen around the world. 

In the UK, across all Pay by Bank providers, more than 15 million consumers and businesses are now active users of Pay by Bank – equating to almost one in three adults, with total users rising by 34% year-on-year¹. Some estimates place total adoption across Europe at 64 million users². 

Meanwhile, in the United States, at least 100 million consumers have authorised a third party like Trustly to access their bank account data^3.

Trustly’s global 120m user milestone is powered by an extensive payments and data network – one of the broadest in open banking – connecting thousands of banks across Europe and North America. Built on over a decade of transaction intelligence across gaming, e-commerce, financial services, telecoms and the public sector, this network enables Trustly to deliver highly adaptable payment experiences tailored to each merchant’s specific needs

Over the past two years, this flexibility has attracted and retained leading brands across every vertical Trustly serves – from Booking.com and Lenovo in e-commerce, to AT&T and Virgin Media O2 in telecoms, to a growing portfolio of billers, insurers and utilities across Europe and the United States. Trustly also retains its contract with His Majesty’s Revenue and Customs (HMRC), the UK’s most significant open banking mandate – a testament to the platform’s reliability and scalability at national level.

Trustly has continued to enhance its offering through innovation. Last year, Trustly introduced its AI-powered recurring payments solution, allowing businesses to seamlessly accept recurring transactions to improve customer acquisition, enhance customer lifetime value (CLV), and increase revenues.  

In 2025, in Europe, Trustly launched its new biometric payment solution, Trustly ID, speeding up identification to support faster logins for its gaming partners. And, in the United States, Trustly introduced Scan & Pay, a cashless gaming solution helping to bring greater speed and convenience for players and drive cost savings for operators.

Johan Tjärnberg, Group CEO at Trustly, commented: “Surpassing 120 million users is a real milestone for Trustly and is testament to our central role in driving the momentum behind Pay by Bank globally. This achievement reflects not only Trustly’s market-leading position but also the growing trust and demand for Pay by Bank as consumers and businesses alike embrace faster and more secure ways to pay. We’re excited to continue driving this evolution forward to make seamless and safe payments a reality for all.”

FF NEWS TAKE: Yes, this move decisively shifts the needle, demonstrating proven mass-market viability for Pay by Bank globally. The next battleground will be diversification beyond single-payment use cases. With new products like AI-powered recurring payments and biometric ID, the focus is now on integrating this infrastructure deeper into the commercial lifecycle. We will be watching to see if providers can successfully translate payment speed and security into a universally recognized consumer-facing experience, a challenge highlighted by recent research into fragmented Open Banking terminology.