In a significant move within the payments landscape, Trustly, a prominent player in the gaming sector, has successfully concluded its acquisition of SlimPay. The announcement, initially made on August 29, marked the beginning of a transformative journey aimed at reshaping the recurring payment landscape in Europe. Subsequent to the release, regulatory approvals from the French banking supervision authority have been secured, solidifying the strategic partnership.
Strategic Vision and Market Impact:
The primary objective of this acquisition is to redefine the way recurring payments function in Europe. Trustly envisions providing an Open Banking-enabled, pan-European recurring payment service, leveraging SlimPay’s established relationships with brands in utilities, insurance, transportation, media, and fitness sectors. The union of Trustly’s expansive reach and SlimPay’s specialized expertise creates a comprehensive offering that has already attracted attention from top-tier global brands.
Johan Tjärnberg, CEO of Trustly Group, expressed the transformative potential of this collaboration, stating, “SlimPay’s unique product capabilities, fused with Trustly’s innovative technology, are a game-changer for recurring payments in Europe.” The aim is to enhance efficiency and offer an unparalleled experience in billing and subscription services, setting the stage for supporting more global brands and leading innovations in the industry.
Jerome Traisnel, CEO of SlimPay, added, “Merging with Trustly is a milestone in innovating recurring payment systems,” highlighting the significant improvement expected in billing and subscription services.
Technological Advancements:
The news follows the recent introduction of Trustly Azura, a cutting-edge payments engine designed to elevate user experience through personalization and data optimization. With the inclusion of SlimPay, the payment process is expected to become even more seamless and efficient. Trustly Azura aims to set new standards in the industry, and the integration of SlimPay’s capabilities aligns with this vision.
Insights from Trustly’s CEO:
In an exclusive Q&A with Gambling Insider in June of the previous year, Johan Tjärnberg shed light on the company’s overarching goals and provided insights into Trustly Azura. The CEO’s perspectives offer a deeper understanding of the company’s strategic direction and commitment to innovation in the evolving payments landscape.
Future Prospects and Global Reach:
The strategic alliance between Trustly and SlimPay not only signifies a shift in the European recurring payments landscape but also positions the entities to expand their global footprint. Trustly’s vision of becoming a global leader in innovative payment solutions is reinforced by this acquisition. As the industry witnesses increasing demand for seamless and secure payment options, Trustly and SlimPay are poised to be at the forefront of delivering cutting-edge solutions to a diverse array of industries.
Trustly’s acquisition of SlimPay marks a pivotal moment in the evolution of recurring payments in Europe. The synergies between Trustly’s innovative technology and SlimPay’s specialized capabilities create a formidable force in the payments sector. As the industry continues to embrace digital transformation, this strategic move positions Trustly as a key player driving innovation and efficiency in the European and global payments landscape.