The move will allow global merchants to accept online payments from both European and American customers, and will provide an alternative to cards and allow payments directly from a bank account.
“In many European markets, consumers are used to paying directly with their bank account and the payment method is now also emerging in the U.S. as a compelling alternative to credit cards,” Trustly said. “Following the merger, PayWithMyBank founder and CEO Alexandre Gonthier will be the U.S. CEO, with overall responsibility for U.S. market development. Gonthier will report to Group CEO Oscar Berglund.”
Berglund said that he’s excited about the merger and what it means for consumers.
“This transformative merger creates the first and only online banking payments network with transatlantic coverage and accelerates our path towards global coverage,” he said. “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. Together we’re thrilled to be able to offer merchants and billers a unique alternative to card payments, allowing them to accept payments from 600 million consumers across Europe and the U.S.”
Alexandre Gonthier said that the link up will allow for the expansion his company has wanted to do.
“Our large, U.S.-headquartered customers were all asking us to expand our consumer coverage globally beyond the U.S. 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 U.S.,” he said. “We look forward to offering a richer service to our existing customers and partners, and building an unparalleled solution for merchants and billers with global ambitions.”