Analysis of Trustly’s Support for Sweden’s Central Bank Instant Settlement System

Overview

• Trustly announced support for RIX INST, the instant settlement system of Sveriges Riksbank, marking a significant milestone in its home market.
• This integration enables instant payouts for Swedish banks and their customers, enhancing the efficiency of the Swedish payments ecosystem.

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Strategic Impact

• Trustly will be the third-party provider to support RIX INST, offering seamless instant payout coverage across all Swedish banks.
• Merchants can now provide instant refunds and payouts to customers of major banks like ICA Banken, Länsförsäkringar, and Skandiabanken.
• The solution is seamless for Trustly’s merchants, requiring no API changes.

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Competitive Dynamics

• This move strengthens Trustly’s position as a leader in instant payouts, aligning with its core mission to offer faster and more reliable payment experiences.
• Johan Tjärnberg, Group CEO of Trustly, highlighted the milestone, emphasizing the closure of gaps in instant payouts within Sweden.

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Market Expansion

• The enhancement will initially benefit iGaming customers before expanding to other industries.
• This aligns with Trustly’s broader strategy of supporting instant payout schemes across Europe, including SEPA Inst and local systems like Straksoverførsel in Denmark.

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Regulatory and Compliance Considerations

• Trustly is a licensed Payment Institution under PSD2, regulated by the Swedish Financial Supervisory Authority (SFSA) in the EEA and the Financial Conduct Authority (FCA) in the UK.
• The company adheres to stringent regulatory requirements, ensuring compliance across its global operations.

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Financial and Operational Insights

• Trustly processed nearly $100 billion in total payments value in 2024.
• The platform serves over 9,000 merchants across 30+ markets, connecting them to 650 million consumers through 12,000 banks.

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Future Outlook and Implications

• This integration underscores Trustly’s commitment to innovation in payments technology, reimagining how businesses and consumers interact with financial services.
• By supporting RIX INST, Trustly reinforces its position as a trusted partner for instant payouts, driving efficiency and customer satisfaction in the Swedish market.

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Conclusion

Trustly’s support for RIX INST is a strategic move that enhances its competitive edge, benefits merchants and consumers, and aligns with broader trends toward faster and more secure payment solutions.