Banking service Trustly teams up with telecom giant Virgin Media O2 in a new Pay by Bank agreement
Virgin Media O2 Partners with Trustly for Streamlined Payments and Onboarding
Virgin Media O2 (VMO2), a leading UK telecommunications company, has partnered with Trustly, a global leader in Pay by Bank solutions, to deploy next-generation direct debit account automation and Pay by Bank payments. This collaboration aims to streamline customer onboarding and billing across VMO2's digital estate, enabling real-time bank account connections and supporting both recurring direct debits and one-off payments.
The integration of Trustly’s advanced payments technology will remove manual data entry friction, making VMO2 the first major UK telecom to implement these automated and simplified payment methods at scale. This partnership marks a significant advancement in the adoption of Pay by Bank solutions in the UK, positioning them as a competitive alternative to traditional card payments and digital wallets like Apple Pay.
The partnership underscores VMO2's commitment to the UK Government's vision of accelerating the adoption of account-to-account payments. As of March 2025, there were 13.3 million active Open Banking users in the UK, with one fifth of consumers and businesses now using the financial innovation. This partnership is expected to further accelerate the adoption of open banking payments in the UK market.
Christian Hindennach, chief commercial officer at Virgin Media O2, stated that the partnership with Trustly will improve customer service and offer quick, secure ways to sign up and simpler payment options. Johan Tjärnberg, group chief executive officer of Trustly, expressed that the collaboration with Virgin Media O2 is meaningful, as it is one of Trustly's strategically important markets.
The partnership will deliver a faster, safer, and more seamless payment experience for customers using Open Banking services by Trustly. One-off Pay by Bank payments will simplify payment processes for customers by enabling a seamless connection to their bank account. Direct debit account automation with Pay by Bank will offer users a secure, fast, and new way to sign up for VMO2 services.
The collaboration between Trustly and Virgin Media O2 is a testament to both companies' commitment to innovation and customer experience. Trustly is also working with ProcessOut to make instant bank payments available to merchants, further expanding its reach in the digital payments industry.
The partnership between Virgin Media O2 and Trustly, coupled with VMO2's recent investments in AI-powered customer service tools and seamless digital experiences, positions the company as a strong innovator in the telecom sector's digital transformation. This partnership represents a substantive leap in UK telecom payment innovation, facilitating greater open banking adoption and improved customer experience through direct debit automation and Pay by Bank payment methods.
[1] Virgin Media O2 Press Release, [Link to Press Release] [2] Trustly Press Release, [Link to Press Release] [3] UK Government Open Banking Report, [Link to Report] [4] Trustly and ProcessOut Partnership Announcement, [Link to Announcement] [5] Virgin Media O2 AI-Powered Customer Service Tools, [Link to Article]
- This partnership between Virgin Media O2 and Trustly signifies a significant step forward in global technology collaboration, focusing on streamlined payments and improved onboarding processes.
- The integration of Trustly's advanced payments technology will boost Virgin Media O2's digital strategy, offering an innovative, secure, and flexible solution for customer billing across their digital estate.
- With the adoption of Pay by Bank solutions, this partnership represents a competitive edge for Virgin Media O2 in the UK market, challenging traditional card payments and digital wallets like Apple Pay.
- The collaboration aligns with the UK Government's vision of accelerating open banking payments and reflects Virgin Media O2's dedication to fostering innovation in finance and business technology.
- By leveraging open banking services, the partnership is set to deliver faster, safer, and more seamless payment experiences for customers, exemplifying both companies' commitment to enhancing global payment technology and customer service.
- In addition to partnering with Trustly, Virgin Media O2 continues to invest in cutting-edge technology, such as AI-powered customer service tools and seamless digital experiences, establishing itself as a leading innovator in the telecom sector's digital transformation.
