Flywire has expanded its partnership with Trustly to bring Open Banking payments to payers in the US and Canada.
According to the official press release, in the US, this will operate via ACH transfers, while in Canada it will use Pre-Authorised Debit (PAD). The move builds on a partnership between the two companies that began in Europe in 2017, before expanding into other markets over time.
Under the arrangement, payers authorise transactions by logging into their existing online bank accounts through Trustly's interface, rather than manually entering routing and account numbers. In addition, Flywire said this method is intended to reduce payment failures and give payers visibility into the status of their transactions throughout the process.
According to Flywire, Trustly carries out a balance check at the point of authorisation, designed to flag potential insufficient funds before a transaction is processed, which the companies said reduces the risk of non-sufficient funds (NSF) returns. For cross-border payments, Flywire said it manages funds during the post-settlement return window, which it described as lowering the likelihood of reversals and providing more predictable outcomes for clients.
Flywire also said payers are shown processing timelines and pricing information within its payment interface before authorising a transaction, with no additional wire fees or bank charges cited in the announcement.
Regulatory context across markets
Flywire said the expansion reflects its capacity to manage differing Open Banking regulatory and technical frameworks across the US, Canada, and Europe. Kate Moran, Vice President of Global Payments at Flywire, said the company is applying Open Banking infrastructure it has developed in Europe to the North American market, with the aim of offering clients a payment method already established elsewhere.
A Trustly executive said the expanded partnership is intended to extend Open Banking to sectors involving higher-value payments, combining bank-login-based authorisation with underlying risk-mitigation processes designed for enterprise clients.
Flywire provides payment and software services across sectors, including education, healthcare, and travel, enabling domestic and cross-border transactions for its client base. Trustly provides Open Banking-based account-to-account payment services. The expanded offering is aimed at both domestic and cross-border payments made by US and Canadian payers to Flywire's clients.
