Following this announcement, the acquisition represents a major step towards the development of the overall recurring payment landscape across the region of Europe. By incorporating its solutions with SlimPay’s suite of services, Trustly aims to reinforce its commitment to provide a comprehensive and secure Open Banking-enabled, pan-European recurring payments tool.
At the same time, SlimPay is expected to bring multiple strong partnerships with renowned brands and businesses in several industries, such as insurance, transportation, fitness, and media. The unified solutions of the two firms, including Trustly’s proprietary and frictionless payment experience with SlimPay’s expertise in the Single Euro Payments Area (SEPA) direct-debit capabilities set a new standard in the industry, for merchants and traders across the UK and the overall Europe.
Following the initial statement announced in August 2023 and the subsequent receipt of regulatory approvals from the French banking supervision authority, the ACPR, the partnership will also combine Trustly’s expansive reach with SlimPay’s specialised expertise, which will design a comprehensive, secure, and efficient pan-European offering that already attracted multiple customers, brands, and businesses around the world.
The acquisition followed a successful introduction of Trustly Azura, a payment engine that optimised user experience through the use of personalisation and data optimisation. The addition of SlimPay’s offerings and capabilities is set to further augment the network effect of the Azura service, which provides an easier and more efficient payment procedure for an expanding client base.
At the same time, customers and clients will be given the possibility to experience faster and more convenient transactions, as Trustly’s presence at checkouts, will mean no more manual detail entry processes. This streamlined and secure procedure is expected to optimise the customer experience, but also significantly accelerate the development conversion rates by simplifying payments. Users will be enabled to benefit from significantly improved billing and subscription solutions as well.
With the regulatory approval being currently secured, SlimPay’s integration into Trustly Group is expected to meet the needs, preferences, and demands of customers and clients in an ever-evolving recurring payment throughout the region of Europe, while also remaining compliant with the laws and requirements of the local industry.
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