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Fintechs Canada welcomes its newest member, Trustly

Fintechs Canada is thrilled to announce that Trustly has joined the association.

“With its open banking payments product, Trustly is a healthy dose of competition in the Canadian payments market,” said Laurence Cooke, chairperson of the board of Fintechs Canada. “We lack alternatives to legacy ways to pay, but this is beginning to change as the government makes progress on knocking down the barriers to entry in the Canadian marketplace.”

Canada’s Minister of Tourism and Associate Minister of Finance, Randy Boissonnault, was recently given a mandate to make progress on open banking and payments modernization. With the new federal payments regulation and a real-time payment system already on the way, Canada is making progress.

“At Trustly, we strive to be part of the continuous improvements to the payments ecosystem in Canada,” says Pete Ohser, Trustly President, North America. “Being a member of Fintechs Canada means we can work collaboratively to innovate, continue the exciting global development of Open Banking, and improve the payment experience for Canadian merchants and consumers.”

About Trustly

 Founded in 2008, Trustly is a global leader in Online Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 we processed over $21 billion in transaction volume in our global network. 

Trustly has more than 600 employees across Europe, North America and Latin America. We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.

About Fintechs Canada

Established in May 2019 as a not-for-profit member association, Fintechs Canada is the harmonized voice for technology companies that hold and move money operating in Canada. Our membership is growing and diverse, inclusive of consumer-facing financial technology companies, business-to-business payment processors, payment network operators, and financial institutions, among others.

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