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Swedish payments firm Trustly has acquired the French recurring payments platform SlimPay as it continues its Europe-wide expansion. Trustly, which competes with card companies and digital rivals like PayPal Holdings Inc., plans to use the deal to expand into repeating payments such as subscriptions or donations.
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The buyout was part of a strategy “to enable open banking to consumers across Europe,” Johan Tjärnberg, chief executive officer of Trustly, said in an interview. The rollout will begin in SlimPay’s existing markets in Germany, France, Spain and Italy.
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