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APIs · head to head

Trustly vs Tuum

Trustly logo

Trustly

APIs

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

From
On request
Rated
-
Full reviewWebsite
Tuum logo

Tuum

APIs

Modular core banking platform from Estonia, formerly branded Modularbank

From
On request
Rated
-
Full reviewWebsite

The short version

  • Each has a real cost: 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.; Tuum it is a smaller, younger company than Mambu, so it has fewer live reference deployments and a shorter track record to evaluate risk against.
  • They diverge on capability: Trustly covers Pay by bank checkout, Tuum covers Modular product structure.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Trustly and Tuum actually diverge.

Attributes where Trustly and Tuum differ
AttributeTrustlyTuum

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 Trustly

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

Only in Tuum

  • Modular product structure
  • Low-code integration middleware
  • Cloud-agnostic deployment
  • Multi-currency real-time accounts
  • Cards and lending modules
  • Faster migration timeline

What people use each for

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

Trustly

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

Tuum

  • A bank wanting to migrate specific banking products to the cloud within months rather than replacing its entire core at oncenot Trustly
  • A fintech in the DACH region or Middle East wanting a European core banking vendor with regional expansion focusnot Trustly
  • An institution wanting low-code middleware to connect new modules to an existing legacy core rather than a full rebuildnot Trustly
  • A company researching "Modularbank" that needs to confirm it is the same company now branded Tuumnot Trustly

Where each one falls short

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

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.

Tuum

  • It is a smaller, younger company than Mambu, so it has fewer live reference deployments and a shorter track record to evaluate risk against.
  • The 2022-era rebrand from Modularbank to Tuum means older funding records, case studies and press coverage appear under a different name, complicating due diligence for anyone unaware of the change.
  • Pricing is entirely unpublished, requiring a sales conversation to budget against competing composable core vendors.
  • Its geographic expansion into DACH and the Middle East is comparatively recent, so support depth and local regulatory expertise in those markets are less proven than in its home Baltic and Nordic base.
  • As with any core banking platform, choosing Tuum is a multi-year infrastructure commitment; switching cores after implementation is a major undertaking regardless of how modular the initial adoption was.

Pricing, plan by plan

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

Tuum

On request
  • Tuum$undefined/year
    • Subscription and module-based pricing, not published
    • Custom quote required via sales

Which should you pick?

Choose Trustly if

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

Choose Tuum if

  • You need modular product structure.
  • You work on Web, API.
  • You also want low-code integration middleware.
Tuum review

Questions people ask

Is Trustly or Tuum better?
Neither clearly leads. Trustly starts at On request and Tuum at On request, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Trustly or Tuum?
Trustly starts at On request and Tuum at On request.
Does Trustly or Tuum run on more platforms?
Both run on Web, API, so platform support will not decide this one for you.
What is Trustly best used for?
Trustly is most often used for an e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptance, a gaming or gambling operator needing verified, instant payouts to players' bank accounts, a merchant wanting instant refunds processed directly to a customer's bank account rather than card reversal delays, a business in a market with strong open banking adoption wanting pay-by-bank as a checkout option. Of those, an e-commerce merchant wanting a lower-cost alternative or complement to card payment acceptance and a gaming or gambling operator needing verified, instant payouts to players' bank accounts are not what Tuum is typically brought in for.
What can Trustly do that Tuum cannot?
Trustly covers Pay by bank checkout, Instant refunds, Verified payouts, Multi-market bank connectivity. Tuum covers Modular product structure, Low-code integration middleware, Cloud-agnostic deployment, Multi-currency real-time accounts.

Answered from the vendors’ own pages

Trustly: Who owns Trustly?

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

Tuum: Is Tuum the same company as Modularbank?

Yes, Modularbank rebranded to Tuum; it is the same company and platform.

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.

Tuum: Where is it strongest geographically?

Its base is Estonia and the Nordic and Baltic region, with newer expansion into DACH and the Middle East.

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.

Tuum: Is pricing published?

No, subscription and module pricing require a sales conversation.

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