Trustly, a global leader in Open Banking Payments, has entered into a strategic partnership with Newline by Fifth Third Bank to innovate and expand payment capabilities across the U.S. financial landscape. This collaboration marks a significant step toward reshaping digital payments by combining advanced technology solutions to streamline transactions and improve the user experience for consumers and businesses alike.

Trustly, founded in 2008, has established itself as a major player in the Open Banking Payments sector by enabling direct payments between bank accounts, bypassing traditional credit card networks. This model allows for faster, more secure transactions with lower processing fees, making it highly attractive to both merchants and customers. Operating across Europe, the Americas, and Australia, Trustly supports millions of transactions per month, catering to various industries, including e-commerce, financial services, gaming, and travel.

Newline by Fifth Third Bank is an embedded payments platform designed to simplify and accelerate the deployment of financial services for enterprises. As a subsidiary of Fifth Third Bank, Newline provides a comprehensive API that integrates payment processing, card issuing, and other financial products directly into a company’s digital ecosystem. This integration allows businesses to offer tailored financial services to their customers without the need for complex technical infrastructure or managing relationships with multiple service providers.

The partnership between Trustly and Newline aims to integrate Trustly’s unique pay-by-bank solutions with Newline’s API-driven payment infrastructure. This integration offers several significant advantages for businesses and consumers. By embedding Trustly’s payment capabilities directly into Newline’s platform, businesses can offer their customers a more seamless payment experience. Consumers can make direct bank payments without leaving a merchant’s website or app, enhancing user satisfaction and reducing the likelihood of cart abandonment.

Both Trustly and Newline prioritize security and compliance in their payment solutions. Trustly’s payment system is built on secure bank-to-bank transfers, reducing the risk of fraud associated with card payments. Meanwhile, Newline provides strong compliance features that meet stringent regulatory requirements, such as anti-money laundering (AML) and Know Your Customer (KYC) protocols. This makes their combined offering particularly valuable for sectors that operate under heavy regulation, including financial services, healthcare, and government.

One of the standout features of this partnership is the cost efficiency and scalability it brings. Traditional payment methods often involve multiple intermediaries, which can increase costs and create delays. By directly integrating Trustly’s bank payment solutions with Newline’s platform, these intermediaries are removed, reducing transaction fees and speeding up payment processing. Additionally, the API-based architecture allows for easy scaling and customization, enabling businesses to quickly adapt to changing market conditions and customer needs.

The collaboration also makes full use of the Real-Time Payments (RTP) network, which enables instant fund transfers between banks. This feature is critical in a market where both consumers and businesses increasingly expect real-time access to funds. For example, gig economy workers and small businesses stand to benefit from immediate payouts, improving cash flow and financial stability. By incorporating RTP capabilities, Trustly and Newline offer a modern, forward-looking solution that aligns with the growing demand for real-time financial services.

The partnership is set to have a profound impact on the U.S. payments landscape, which has been traditionally dominated by credit card networks. Open banking solutions like Trustly’s present a compelling alternative that aligns with the rising consumer demand for faster, more secure, and cost-effective payment methods. By integrating with Newline, Trustly is well-positioned to expand its footprint in the U.S., where digital payment adoption is accelerating rapidly.

Tom Bianco, General Manager of Newline by Fifth Third, emphasized that the collaboration builds on a shared commitment to innovation and leadership in the financial technology sector. He pointed out that embedded payment solutions are becoming increasingly essential for businesses looking to offer integrated financial services to their customers. This partnership with Trustly enables Newline to provide an even more comprehensive suite of payment options, tailored to the specific needs of U.S. businesses and consumers.

The integration of open banking and embedded payments reflects a significant shift toward a more interconnected financial ecosystem. As businesses continue to seek ways to enhance customer experience and streamline operations, partnerships like that of Trustly and Newline are expected to play a critical role. This trend aligns with broader industry movements towards financial inclusion, digital transformation, and the democratization of financial services.

Looking ahead, the success of this partnership could encourage more banks and financial technology companies to explore similar collaborations. With the U.S. payments market projected to grow significantly over the next decade, the ability to offer innovative, secure, and efficient payment solutions will be a key differentiator for financial service providers.

Trustly’s partnership with Newline by Fifth Third represents a bold step toward redefining payment capabilities in the U.S. Through this collaboration, both companies are well-positioned to capitalize on the increasing demand for seamless, secure, and real-time payment solutions. As the digital payments landscape continues to evolve, this partnership could set a new standard for how payments are processed and managed in the United States.

  Fifth Third Bank, fintech, Newline by Fifth Third, open banking, Trustly, U.S. payment capabilities