Trustly and Newline Partner to Facilitate Money Movement in US

Trustly and Newline by Fifth Third have teamed up to facilitate money movement in the United States.

This collaboration brings together Trustly’s open banking payments and Newline’s embedded payments platform, the companies said in a Thursday (Sept. 5) press release emailed to PYMNTS.

“We’re thrilled to collaborate with Newline to further enhance the payment experience for our customers,” Eric Foust, vice president of banking partnerships at Trustly, said in the release. “This strategic agreement reflects our shared dedication to delivering frictionless, secure and innovative financial solutions.”

Under this agreement, the two companies will work together on payments via the Automated Clearing House (ACH) and Real Time Payments (RTP) networks and Trustly’s pay-by-bank ecosystem, according to the release.

With Newline’s application programming interface (API) platform, Trustly will be able to transmit payments directly via Fifth Third Bank, the release said.

Twenty-five percent of the Fortune 100 are served by Fifth Third’s commercial payments business, per the release.

“The Trustly team are pioneers in the payments industry and innovators in the pay-by-bank space,” Tom Bianco, general manager of Newline by Fifth Third, said in the release. “Our collaboration thrives because of our mutual commitment to cutting edge leadership.”

Newline was launched after Fifth Third’s acquisition of Rize Money in 2023, according to the release.

Fifth Third said at the time that the acquisition of the embedded payments platform will boost its treasury management business, enhance its existing embedded payments offerings and position it to meet its clients’ needs as they change.

Trustly has found that open banking solutions like pay by bank are transforming money movement, in part by bypassing traditional intermediaries such as credit card networks, Frederick Crosby, chief revenue officer at Trustly, told PYMNTS in an interview posted Thursday (Aug. 29).

“Introducing open banking payments removes the friction that exists in a very card-heavy world online and allows people to cut through all the middlemen and use their bank to make payments,” Crosby said.

In the United States, the success of open banking payments will depend on consumer comfort with sharing their financial data and their trust in the security of these transactions, Crosby added.

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