Flywire expands open banking partnership with Trustly to US and Canada

Flywire announced on Aug 12 2026 that its partnership with Trustly now supports open‑banking “Pay by Bank” payments across the United States and Canada, giving payers a way to authorize large domestic and cross‑border transfers directly from their bank accounts in local currency [1][2].

Partnership details and market context

The expansion builds on a near‑20‑year collaboration that began in Europe in 2017 [2][3]. Under the new arrangement, payers use their existing online banking credentials at checkout, eliminating the need to re‑enter routing and account numbers. Flywire says the model improves accuracy, reduces payment failures, and provides real‑time transaction visibility [1][2]. Trustly’s platform also performs instant balance checks to mitigate non‑sufficient‑funds (NSF) risks, a feature Flywire highlights as a way to guarantee outcomes for cross‑border transfers [2].

Consumer sentiment and adoption hurdles

PYMNTS research cited in the release shows that while 46 % of American consumers would consider open‑banking payments for at least one purchase type—most interest in monthly bills, groceries and subscriptions—only 11 % have actually made such a payment [1]. The gap suggests that providers must still educate users on when account‑to‑account methods are preferable to cards, digital wallets, or traditional bill‑pay services. In the U.K., where Pay by Bank has reached roughly 15 million users (about one‑third of adults) and recorded its billionth open‑banking payment recently, adoption appears more mature [1].

Competitive landscape

Trustly’s expansion coincides with rising adoption of open‑banking payments in Europe, where the technology is already handling a significant share of high‑value transactions. By leveraging its European‑scaled infrastructure, Flywire aims to bring the same “modern, digital payment experience” to North American enterprises that require high‑value, cross‑border capabilities, positioning the duo against traditional wire and ACH processes that rely on manual entry of routing and account details [2][3].

What to watch

• Upcoming US and Canadian regulatory guidance on open‑banking APIs, which could affect the speed of rollout.
• Consumer adoption metrics from PYMNTS or similar surveys in Q4 2026, especially any shift in the 11 % actual usage figure.
• Any earnings releases from Flywire that reference revenue growth attributable to the new North American open‑banking offering.

The partnership signals a push to mainstream account‑to‑account payments in North America, but its success will hinge on closing the gap between consumer willingness and actual usage, and on navigating the distinct regulatory environments of the US and Canada.