Trustly is an online banking payment service with over 600 million customers in Europe and the USA. Trustly's account-to-account solution helps buyers and merchants make direct payments, while cutting short the long processing time of regular banks.
In the latest developpements, the company has appoint johan Tjärnberg as the new chairman to strenghen its position as the leader of the payment industry. Oscar Berglund, the CEO of Trustly, stated that &#8220;Johan's experience and knowledge in the payment sectors would make a huge advantage for the organization as they drive the innovation of payment services&#8221;.
Johan's experience in the payment industry goes a long way back. Starting as the CFO and later CEO of Point (Yet another European based payment service provider), Johan Tjärnberg, along with the venture capital firm Nordic capital created the Swedish payment service Bambora in 2014. Three years later in 2017, the French public Ingenico aquired Bambora in a SEK, 14 billion (€1.5 Billion) transaction. He then assumed the role of EVP small and medium business at Ingenico and dealt with traders &#8216; transaction facilities.
According to Trustly's representatives, this new appointment is not intended to change the company's course, rather adjusting it so that Trustly becomes a global market leader. Continued growth and extension will be his main focus.
Founded in 2008 and now operated for the most part by Swedish private equity firm Nordic Capital, Trustly offers payment services digitally in Europe and North America with over 600 million active consumers.
News of the new appointment comes shortly after Trustly joins PaywithMyBank, an online banking payments organization headquartered in Silicon Valley, to support its growth in the United States. Johan truly believes in its brands and is fascinated by the company's potential for creativity and adaptation in a payment environment that constantly evolves. Johan hopes to help his faithful and growing client base effectively.
Trustly makes cross-border transfers to and from individual bank accounts in over 3000 banks in 29 European markets and links e-commerce, leisure, gaming, and financial institutions businesses and consumers. With the Pay N Play technology, they have made waves in the Swedish iGaming sector, by allowing players to play at online casinos without going through a lengthy registration procedure.
The Swedish fintech company Zimpler filed complaints with the Swedish competition authorities about a dispute with Trustly late last year. Zimpler accuses Trustly of enforcing exclusive arrangements with partners prohibiting the latest from making deals with other payment services in the market.