Trustly slashes 200 jobs

Trustly, a major player in open banking and account-to-account payments, is laying off roughly 250 employees—about 25% of its workforce. This move is part of a broader shift to abandon low-margin growth in favor of profitability. While the company is scaling back its global headcount, it is doubling down on high-performing regions like the U.K. and the Nordics. For retailers, this signals a tightening in the fintech sector. Trustly is a core provider for 'Pay by Bank' services, which many merchants use as a lower-cost alternative to credit cards and BNPL. When a payment provider pivots to 'profitable growth,' merchants should watch for potential changes in fee structures or a narrowing of support for certain markets. If your checkout relies on Trustly to bypass card networks, ensure your account manager provides updates on their long-term roadmap for your specific region. The company is betting on its 'Trustly Azura' platform to drive efficiency, but the significant staff reduction suggests a period of internal transition.

Source: Finextra — Lending

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