Softwr

APIs · head to head

Aiia vs Trustly

Aiia logo

Aiia

APIs

Open banking and open finance API platform, now operating as Mastercard Open Banking

From
On request
Rated
-
Full reviewWebsite
Trustly logo

Trustly

APIs

Pay-by-bank payments network, majority-owned by private equity firm Nordic Capital

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: Aiia it is now part of Mastercard rather than an independent company, so a business specifically wanting to avoid card network dependency in its banking infrastructure no longer gets that separation by choosing Aiia.; Trustly it is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • They diverge on capability: Aiia covers Bank account data access, Trustly covers Pay by bank checkout.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Aiia and Trustly actually diverge.

Attributes where Aiia and Trustly differ
AttributeAiiaTrustly

Identical on both: starting price (On request), pricing model (quote), free tier (No), platforms (Web, API), user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Aiia

  • Bank account data access
  • Payment initiation
  • Mastercard Open Finance integration
  • Modern authentication support
  • Multi-country coverage
  • Developer documentation and sandbox

Only in Trustly

  • Pay by bank checkout
  • Instant refunds
  • Verified payouts
  • Multi-market bank connectivity
  • Merchant dashboard and reconciliation
  • Fraud and risk tooling

What people use each for

The jobs each tool is most often brought in to do.

Aiia

  • A lending or credit product needing affordability checks via European bank account datanot Trustly
  • A personal finance or accounting product needing transaction history across Nordic and European banksnot Trustly
  • A payments product wanting account-to-account payment initiation under open banking regulationnot Trustly
  • A business wanting the stability and continued investment of Mastercard ownership behind its banking connectivity providernot Trustly

Trustly

  • An e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptancenot Aiia
  • A gaming or gambling operator needing verified, instant payouts to players' bank accountsnot Aiia
  • A merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delaysnot Aiia
  • A business in a market with strong open banking adoption wanting pay-by-bank as a checkout optionnot Aiia

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Aiia

  • It is now part of Mastercard rather than an independent company, so a business specifically wanting to avoid card network dependency in its banking infrastructure no longer gets that separation by choosing Aiia.
  • Pricing is not published and requires engaging Mastercard's open finance sales process, which can be a heavier sales motion than dealing with a smaller independent open banking provider.
  • Its strongest bank coverage remains concentrated in the Nordics and Northern Europe, so companies needing dense coverage in Southern or Eastern Europe should verify current bank connectivity before committing.
  • Brand confusion is real: developer documentation, login portals and older case studies still reference "Aiia" while newer Mastercard material refers to "Mastercard Open Banking," and a company researching either name in isolation may miss half the relevant material.
  • As with any open banking platform, reliability still depends on the consistency of the underlying banks' own APIs, which is a systemic industry issue rather than something Aiia specifically controls.

Trustly

  • It is majority-owned by Nordic Capital, a private equity firm, so its long-term roadmap is ultimately oriented toward an eventual sale or IPO rather than indefinite independent operation.
  • Consumer familiarity with paying by bank transfer still lags card payments in most markets, so merchants typically see it used as a secondary option rather than a full card replacement.
  • The 1.15 to 3.15% merchant fee range is not a single published rate, so a merchant cannot know its actual cost without a sales negotiation.
  • As with all open banking-dependent payment methods, reliability depends on the consistency of the underlying banks' own APIs, which Trustly does not control.
  • Its verified payout functionality is heavily used in gaming and gambling, a sector with additional regulatory scrutiny, which is worth factoring in when evaluating vendor risk exposure by association.

Pricing, plan by plan

Aiia

On request
  • Aiia Enterprise (Mastercard Open Banking)$undefined/year
    • Pricing not published, quote via Mastercard Open Finance sales

Trustly

On request
  • Trustly$undefined/month
    • Typical merchant cost of 1.15% to 3.15% depending on volume and market
    • Exact rate negotiated per merchant, not published as a flat card

Which should you pick?

Choose Aiia if

  • You need bank account data access.
  • You work on Web, API.
  • You also want payment initiation.
Aiia review

Choose Trustly if

  • You need pay by bank checkout.
  • You work on Web, API.
  • You also want instant refunds.
Trustly review

Questions people ask

Is Aiia or Trustly better?
Neither clearly leads. Aiia starts at On request and Trustly at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Aiia or Trustly?
Aiia starts at On request and Trustly at On request.
Does Aiia or Trustly run on more platforms?
Both run on Web, API, so platform support will not decide this one for you.
What is Aiia best used for?
Aiia is most often used for a lending or credit product needing affordability checks via european bank account data, a personal finance or accounting product needing transaction history across nordic and european banks, a payments product wanting account-to-account payment initiation under open banking regulation, a business wanting the stability and continued investment of mastercard ownership behind its banking connectivity provider. Of those, a lending or credit product needing affordability checks via european bank account data and a personal finance or accounting product needing transaction history across nordic and european banks are not what Trustly is typically brought in for.
What can Aiia do that Trustly cannot?
Aiia covers Bank account data access, Payment initiation, Mastercard Open Finance integration, Modern authentication support. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

Answered from the vendors’ own pages

Aiia: Is Aiia still an independent company?

No, it was acquired by Mastercard in 2021 and now operates as part of Mastercard Open Finance Solutions, referenced as Aiia Enterprise.

Trustly: Who owns Trustly?

Nordic Capital, a private equity firm, holds a 51.1% majority stake; Alfven & Didrikson and BlackRock hold smaller stakes.

Aiia: Does the Aiia brand still exist?

Yes, in developer documentation and login portals, but the company behind it is Mastercard.

Trustly: Is Trustly going public?

It has discussed an IPO but as of its most recent comments said one remained at least a year away.

Aiia: Which banks does it cover?

Around 3,000 European banks, with strongest coverage in the Nordics and Northern Europe.

Trustly: What does it typically cost a merchant?

Roughly 1.15% to 3.15% of transaction value depending on volume and market, negotiated per merchant.

Share

Related pages

More on Aiia

More on Trustly

Keep looking

Other head to heads