23 July 2025 – Trustly, the global leader in Pay by Bank, today announced a new partnership with Virgin Media O2 (VMO2) – one of the largest telecommunications companies in the UK and the first in the country to have invested in Open Banking – to provide next-generation direct debit account automation and one-off Pay by Bank payments for VMO2 customers in its digital estate.
Following the integration of Trustly’s advanced payments technology in the coming months, the partnership will enable VMO2 to streamline payments and onboarding processes as part of its commitment to making customers’ lives easier. Direct debit account automation with Pay by Bank will provide users with a secure, fast, and new way to sign up for VMO2 services, while one-off Pay by Bank payments will help simplify payment processes for customers by enabling a seamless connection to their bank account using Open Banking services from Trustly.
The partnership underscores VMO2’s position at the forefront of eCommerce innovation in the payments space and its commitment to the UK Government’s vision of accelerating the adoption of account-to-account payments.
VMO2 was the first telecommunications provider in the UK to invest in Open Banking, launching an innovative direct debit account automation pilot in 2023 which achieved over 60% uptake among eligible users. The company also remains a leader in e-commerce digital payment solutions, following the successful launch of digital wallets for recurring contract payments in 2024 – the first service of its kind in the UK telecoms sector.
The use of Open Banking has grown rapidly, with recent figures showing that as of March 2025 there were 13.3 million active Open Banking users in the UK. One fifth of consumers and businesses now use the financial innovation – up from just one in 17 in March 2021.
For Trustly, the partnership highlights its continued focus on the UK market, building on the company’s existing partnerships with leading UK companies such as Hargreaves Lansdown and government departments like HMRC.
Christian Hindennach, Chief Commercial Officer at Virgin Media O2, said: “We’ve been making real progress with our plans to improve the service we offer our customers over recent months and, as part of this strategy, we’re always looking at rolling out new products and services that can improve their experience with us. This partnership with Trustly will do exactly that – providing our customers with quick and secure ways to sign up and even simpler payment options to access our services, and ensuring we remain at the forefront of digital innovation with unmatched capabilities.”
Johan Tjärnberg, Group CEO at Trustly, said: “We are pleased to announce our partnership with Virgin Media O2, a recognised leader in digital payments innovation and eCommerce within the telecommunications sector. This collaboration marks a meaningful advancement in the adoption of Pay by Bank solutions in the UK, one of Trustly’s most strategically important markets. By integrating Trustly’s technology, Virgin Media O2 will be able to further streamline its digital payments infrastructure and simplify onboarding processes, delivering a faster, safer, and more seamless payment experience for its customers using innovative Open Banking services by Trustly.”
For more information, please contact:
Trustly: press@trustly.com
VMO2: jack.harvey@virginmediao2.co.uk / 07866 147652
About Virgin Media O2
Virgin Media O2 is a 50:50 joint venture between Liberty Global and Telefónica SA which launched on 1 June 2021, combining the UK’s largest and most reliable mobile network with a fully gigabit broadband network.
The company has around 45 million UK connections across its award-winning broadband, mobile, TV and home phone services. Its fixed network covers more than half of the country (18.4m premises serviceable) alongside a mobile network that covers 99% of the nation’s population. The company is on track to bring 5G to all populated areas by end 2030 and already offers 5G outdoor coverage to more than 75% of the UK population.
Virgin Media O2’s Chief Executive Officer, Lutz Schüler, announced details of the company’s customer service turnaround strategy in a blog post earlier this year.
About Trustly
Trustly is the global leader in Pay by Bank solutions. For more than a decade, it has sustained rapid growth while consistently maintaining profitability. Through its outstanding Open Banking platform, Trustly offers innovative payment experiences, connecting consumers and merchants. Its patented technology ensures that transactions are processed in real-time, providing both speed and security.
Trustly’s dedication to reimagining how the world pays is reflected in its collaborations with major brands such as PayPal, eBay, and Hargreaves Lansdown in Europe and FanDuel, T-Mobile, and Coinbase in North America. To date, Trustly has transformed the performance and experience of payments for over 9,000 merchants in 30+ markets, connecting them to 650+ million consumers through 12,000 banks. In 2024, Trustly processed nearly $100 billion in total payments value.
Trustly, launched in 2008, operates under the supervision of the Swedish Financial Supervisory Authority in the EU, EEA and the Financial Conduct Authority in the UK. In the US, Trustly is state-regulated as required to serve its target markets.
Notes to editors
Open Banking figures published here.
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