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APIs · head to head

TrueLayer vs Trustly

TrueLayer logo

TrueLayer

APIs

Open banking payments and data across the UK and Europe, with the largest share of UK variable recurring payments

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: TrueLayer variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.; 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: TrueLayer covers Pay by bank, 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 TrueLayer and Trustly actually diverge.

Attributes where TrueLayer and Trustly differ
AttributeTrueLayerTrustly
PlatformsWeb, iOS, AndroidWeb, API

Identical on both: starting price (On request), pricing model (quote), free tier (No), 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 TrueLayer

  • Pay by bank
  • Variable recurring payments
  • Payouts and refunds
  • Account information
  • Account name verification
  • Signup and KYC support
  • Multi-country coverage
  • Hosted payment page

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.

TrueLayer

  • A UK subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring paymentsnot Trustly
  • A trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risknot Trustly
  • A marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected paymentsnot Trustly
  • A lender verifying income and affordability from bank transaction data rather than uploaded statementsnot Trustly

Trustly

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

Where each one falls short

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

TrueLayer

  • Variable recurring payments, the strongest reason to choose TrueLayer, is a UK construct, and European businesses expecting the same capability in their market will not get it on the same timetable.
  • Payment conversion varies substantially by bank, and a bank with a slow or broken authentication journey drags results down regardless of vendor, so aggregate coverage numbers say little about your actual mix.
  • Pay by bank has no chargeback mechanism, which merchants like until a customer disputes a purchase and finds no scheme protection, making it a poor fit for categories where buyers expect card style recourse.
  • Pricing is unpublished and varies by market and product, so multi-country merchants cannot model cost without a full sales engagement and often find rates differ significantly between countries.
  • Open banking authentication requires the customer to leave the checkout and authorise in their banking app, and that redirect remains the largest source of drop-off compared with a stored card.

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

TrueLayer

On request
  • TrueLayer Payments and Data$undefined/year
    • Per-payment fees quoted by volume, market and product
    • Separate commercial terms for payment initiation, VRP and account information
    • Platform and minimum commitment terms negotiated per contract

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 TrueLayer if

  • You need pay by bank.
  • You work on Web, iOS, Android.
  • You also want variable recurring payments.
TrueLayer 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 TrueLayer or Trustly better?
Neither clearly leads. TrueLayer 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, TrueLayer or Trustly?
TrueLayer starts at On request and Trustly at On request.
Does TrueLayer or Trustly run on more platforms?
TrueLayer runs on Web, iOS, Android. Trustly runs on Web, API.
What is TrueLayer best used for?
TrueLayer is most often used for a uk subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring payments, a trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risk, a marketplace paying sellers out to verified bank accounts with name checking to reduce misdirected payments, a lender verifying income and affordability from bank transaction data rather than uploaded statements. Of those, a uk subscription or top-up business that wants card-like recurring collection over bank rails using variable recurring payments and a trading or crypto platform funding accounts instantly by bank transfer where card deposits carry chargeback risk are not what Trustly is typically brought in for.
What can TrueLayer do that Trustly cannot?
TrueLayer covers Pay by bank, Variable recurring payments, Payouts and refunds, Account information. Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity.

Answered from the vendors’ own pages

TrueLayer: Is VRP available outside the UK?

No. Variable recurring payments are a UK capability. EU adoption is on a slower path, with UK commercial VRP expanding into ecommerce during 2026.

Trustly: Who owns Trustly?

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

TrueLayer: What does TrueLayer cost?

Not published. Per-payment fees are quoted by volume, market and product, usually with a platform component and a minimum commitment.

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.

TrueLayer: Are there chargebacks on pay by bank?

No. Bank transfers have no card scheme chargeback mechanism, which removes that cost but also removes buyer recourse, so it suits some categories and not others.

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.

TrueLayer: Which countries are covered?

The UK plus a substantial set of European markets under PSD2, though bank-level coverage and conversion vary by country and should be checked for your specific mix.

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