Pay-by-bank solution provider Trustly reported that its total payment value increased by 54% year over year in 2024, driven by new products and partnerships in North America and Europe. The firm’s total payment value reached $85 billion, up from $55 billion in 2023. “Strategic partnerships have been critical for Trustly,” Trustly Group CEO Johan Tjärnberg said. “In Europe, our ongoing collaboration with [His Majesty’s Revenue and Customs (HMRC)] strengthens our public sector leadership. In North America, expanded engagements with financial institutions and gaming providers highlight the strength and adaptability of our risk engine.” Trustly processed 1.3 billion HMRC payments totaling 4.7 billion pounds (about $6.4 billion) in January. The company’s collaborations in North America include BNY’s Bankify, Newline by Fifth Third, Coinbase, IGT, Light & Wonder, and an expanded partnership with Cross River Bank that now includes the FedNow® Service in addition to the RTP® network. On the product front, Trustly launched its artificial intelligence-powered recurring payments solution in June 2024, saying that a single integration enables merchants to accept repeat transactions directly from customers’ bank accounts. “By eliminating friction in repeat transactions, we’ve enabled merchants to better serve their customers and capture more revenue,” Tjärnberg said. “Similarly, our proprietary data engine, Azura, is driving higher engagement and conversion — proof of our innovation’s tangible impact.”