Banking service Trustly and telecommunications company Virgin Media O2 join forces in a partnership for easy bank payments.
Virgin Media O2 (VMO2), a leading UK telecommunications provider, has taken a significant step forward in eCommerce innovation by partnering with Trustly, a global leader in Pay by Bank solutions. This collaboration is aimed at providing VMO2 customers with quick and secure ways to sign up for services and simpler payment options.
The partnership marks a significant advancement in the adoption of Pay by Bank solutions in the UK, one of Trustly's most strategically important markets. According to recent statistics, as of March 2025, there were 13.3 million active Open Banking users in the UK, a number that has grown significantly from just one in 17 in March 2021.
VMO2 was the first telecommunications provider in the UK to invest in Open Banking and launched a direct debit account automation pilot in 2023. The integration of Trustly's advanced payments technology is expected in the coming months, to streamline payments and onboarding processes for VMO2.
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. This integration allows customers to connect their bank accounts in real time, eliminating the need to manually enter bank details, which reduces friction during account setup and streamlines billing and one-off payment processes with faster, more secure, and simpler payment options.
The partnership builds upon VMO2’s previous Open Banking initiatives, including a 2023 pilot for direct debit automation that saw over 60% uptake among eligible users and the introduction of digital wallets for recurring payments in 2024, the first such service in the UK telecoms sector. Trustly's Open Banking technology facilitates seamless connection to customers' bank accounts, supporting both recurring payments and one-off charges, making payments more convenient and secure for VMO2’s customers.
This collaboration positions VMO2 as a leader in eCommerce innovation and supports the UK Government’s push for faster adoption of account-to-account payments, helping to broaden the use of Pay by Bank solutions within the UK market. Christian Hindennach, chief commercial officer at Virgin Media O2, has stated the company's strategy to improve customer service by rolling out new products and services. Johan Tjärnberg, group chief executive officer of Trustly, has mentioned that this collaboration is meaningful for the advancement of Pay by Bank solutions in the UK.
The partnership is expected to deliver a faster, safer, and more seamless payment experience for Virgin Media O2 customers using Open Banking services by Trustly. Johan Tjärnberg, group chief executive officer of Trustly, has announced the partnership with Virgin Media O2, a leader in digital payments innovation and ecommerce within the telecommunications sector.
In addition to its work with VMO2, Trustly is currently working with ProcessOut to make instant bank payments available to merchants. This further underscores Trustly's commitment to driving the adoption and advancement of Pay by Bank solutions across various industries.
[1] Trustly Press Release: Virgin Media O2 Partners with Trustly to Improve Payment and Onboarding Experience for Customers, [Link to Press Release] [2] Virgin Media O2 Investor Relations: Open Banking Initiatives, [Link to Investor Relations Page] [3] Trustly Press Release: Trustly Partners with Virgin Media O2 to Advance Pay by Bank Solutions in the UK, [Link to Press Release] [4] UK Government Open Banking Implementation Entity: Open Banking Statistics, [Link to Statistics Page]
- Virgin Media O2's collaboration with Trustly, a global leader in Pay by Bank solutions, marks a significant advancement in the adoption of Pay by Bank solutions in the UK, a strategically important market for Trustly.
- According to recent statistics, as of March 2025, there were 13.3 million active Open Banking users in the UK, a number that has grown significantly from just one in 17 in March 2021.
- The integration of Trustly's advanced payments technology is expected in the coming months, to streamline payments and onboarding processes for Virgin Media O2, a UK telecommunications provider known for eCommerce innovation.
- This integration allows Virgin Media O2's customers to connect their bank accounts in real time, eliminating the need to manually enter bank details, which reduces friction during account setup and streamlines billing and one-off payment processes with faster, more secure, and simpler payment options.
- Trustly's Open Banking technology facilitates seamless connection to customers' bank accounts, supporting both recurring payments and one-off charges, making payments more convenient and secure for Virgin Media O2’s customers.
- Alongside its work with Virgin Media O2, Trustly is currently working with ProcessOut to make instant bank payments available to merchants, further underscoring Trustly's commitment to driving the adoption and advancement of Pay by Bank solutions across various industries.
