Swedish open banking and payments firm Trustly has acquired A2A-based recurrring payments platform SlimPay in a deal believed to be worth €70 million.
In brief:
-The combination will add to Trustly’s existing Direct Debit capability in the UK and Sweden
-It will also provide a pan-European recurring payments service for merchants and consumers across the continent, including Germany, France, Spain and Italy
-The acquisition of SlimPay comes shortly after the launch of Trustly Azura, a new technology and data engine that offers consumers and merchant personalised data services
What does this mean?
Johan Tjärnberg, group CEO of Trustly, comments: "SlimPay’s Sepa solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard. The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“
