Swedish Open Banking payments platform Trustly has completed its acquisition of Paris-based SlimPay, which was announced back in August 2023.
Since then, the deal has received regulatory approval from the French Prudential Supervision and Resolution Authority, or ACPR.
Johan Tjärnberg, group chief executive officer of Trustly, (pictured) called the merger a “gamechanger for recurring payments in Europe”.
“Our alliance synergises Trustly’s expansive reach and SlimPay’s specialised expertise, creating a comprehensive, pan-European offering that already has attracted top-tier global brands,” Tjärnberg added.
Stockholm-based Trustly’s client network includes global brands such as eBay, Booking.com, and AirFrance-KLM, while in the UK, it has expanded into the wealthtech and tax collection sectors, through Hargreaves Lansdown and HMRC, respectively.
Meanwhile, European account-to-account payment fintech SlimPay has partnerships with brands across sectors including utilities, insurance, transportation, media, and fitness.
Jerome Traisnel, chief executive officer of SlimPay, said: “Merging with Trustly is a milestone in innovating recurring payment systems.
“Our combined capabilities will significantly enhance billing and subscription services, offering customers unparalleled efficiency. This collaboration paves the way for supporting more global brands and leading innovations in the industry.”