rewrite this title Spreedly Partners with Trustly to Give Clients Pay-by-Bank Capabilities – Finovate

Spreedly and Trustly have partnered to offer Spreedly’s merchant clients pay-by-bank capabilities through its Open Payments platform.

Adding the new payment option will help merchants enhance payment flexibility, conversion rates, and consumer insights.

Pay-by-bank adoption is growing in 2025 due to lower fees and faster settlement times for merchants. To encourage its use, some merchants offer monetary incentives at checkout.

Open payments platform Spreedly has teamed up with pay-by-bank expert Trustly this week. The two are collaborating to offer Spreedly’s merchant clients access to Trustly’s pay-by-bank capabilities.

Under the partnership, Trustly will take charge of the pay-by-bank tools in Spreedly’s Open Payments platform. Spreedly anticipates that merchants who use the new pay-by-bank tools will see improved conversion rates without having to overhaul their existing payments infrastructure. The company also envisions that the new capabilities will empower merchants with more payment flexibility and further insight into consumer habits. 

“Our collaboration with Spreedly represents a significant step towards a unified payments experience becoming the industry standard,” said Trustly VP of Enterprise Growth Ross McFerrin. “By integrating Trustly’s pay-by-bank offerings with Spreedly’s orchestration platform, we’re providing merchants an all-in-one solution that allows them to choose the best payment methods to offer their customers while simplifying the complexity of payment integrations.”

Sweden-based Trustly’s pay-by-bank network currently processes over $42 billion in transaction volume each year. The company offers Trustly Pay for open banking payments and Trustly Payouts for payouts. It also provides open data tools like Trustly Connect for data retrieval, Trustly ID for identity verification, and Trustly Insights for real-time underwriting decisions. In 2018, Nordic Capital bought Trustly for an undisclosed amount, and since then, Trustly has acquired three companies of its own, including SlimPay, Ecospend, and PayWithMyBank. The company anticipates that partnering with North Carolina-based Spreedly will increase its market reach in the U.S.

Spreedly was founded in 2007 to help merchants build their payments stack on a single platform. The company’s payment orchestration stack offers merchants more than 140 gateway connections of more than 40 payment methods. Spreedly also offers fraud prevention, payment optimization tools, and more.

“Spreedly has long demonstrated its ability to securely vault and orchestrate payments across card networks, and by partnering with Trustly, we are excited to extend these benefits by embedding pay-by-bank flows directly into our Open Payments platform,” said Spreedly VP of Global Partnerships and Business Development Rose Francois. “Together, we’ll enhance payment flexibility and security, empowering merchants to meet the growing demand for efficient, data-driven payment solutions, while driving stronger outcomes for the broader payments ecosystem.”

Pay-by-bank has been cited by analysts as one of the top trends to watch in 2025 as consumer and merchant adoption continues to grow. Merchants often favor pay-by-bank because of the lower fees and faster settlement times. And while consumers may be hesitant to ditch their credit cards in favor of pay-by-bank, some merchants offer a monetary incentive at the point of purchase to promote using pay-by-bank.

Photo by terence b

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