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Trustly CPO: ‘Exciting Time’ For Pay by Bank and Open Banking

  • Pay-by-bank technology, rooted in open banking, is predicted to reshape consumer-merchant interactions and complement existing payment methods like digital wallets.
  • Trustly's Chief Product Officer, Adam D’arcy, believes that pay-by-bank functionality could be integrated into popular digital wallets like Apple Pay and Google Pay in the future.
  • The adoption of pay by bank in the US market is expected to be driven by regulatory clarity, such as Rule 1033, which legitimizes open banking practices.
  • Merchant adoption is crucial for the success of pay by bank, and Trustly's enterprise-first approach has already proven value in industries like telecommunications and gaming.

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