Trustly has detailed a spike in transaction value as the desire for instant payments from the Open Banking specialist elevated in 2023. 

Amid growth in Europe and the US, the group stated that its transaction value grew by 79 per cent to $58bn.

Furthermore, a record 274 million transactions were processed via Trustly throughout last year fuelled by the firm’s growth in Europe and North America.

It builds on the overall ambition of Trustly to elevate the adoption of Open Banking as the tech journey holds significant potential for the igaming industry. 

Johan Tjärnberg, Group CEO of Trustly, commented: “In a year of global economic challenges, Trustly’s exceptional growth highlights our commitment to Open Banking and our ability to lead in the digital payments landscape. Our expansion in Europe and the US is a testament to this leadership. 

“The launch of Azura has been a game-changer, introducing a new level of transactional personalisation and efficiency. I am immensely proud of Azura’s contribution to our growth since its debut in May, setting a new benchmark in the payment industry.” 

Trustly saw the most significant of its growth coming from the US, where Q4 2023 saw volume increase by 216 per cent whilst total processed volume surged 229 per cent from the previous year. 

The Open Banking firm also launched on the FedNow payment rail last year bolstering its account-to-account capabilities and believes there is now a growing appetite in the US for instant payments. 

Alexandre Gonthier, CEO of Trustly, added: “In the US market, Trustly is trailblazing account-to-account payment capabilities and instant payment adoption on both RTP and FedNow, two newer payment rails that enable money to move from a bank account to another bank account in real-time. 

“We’re the global leader in Open Banking Payments and see this level of unprecedented growth as validation for both the Trustly brand and bank payments everywhere.”