Financial institution Trustly partners with telecommunications company Virgin Media O2 to enable customers to make payments using direct bank transfers
In a groundbreaking move, Virgin Media O2 (VMO2) has teamed up with Trustly, a global leader in Pay by Bank technology, to transform the way customers pay for digital services. This partnership aims to simplify one-off payments and automate direct debit account setup, making it quicker and more secure for VMO2 users.
The collaboration integrates Trustly’s Pay by Bank technology into VMO2’s customer onboarding and billing processes, enabling customers to connect their bank accounts in real-time without the need for manual bank detail entry. This move is expected to significantly reduce friction during account setup.
Key aspects of this initiative include the introduction of automated direct debit account setup, which allows customers to securely and quickly authorize direct debits via Open Banking. This streamlines recurring payment collection without the usual paperwork. Additionally, the solution offers simplified, secure payment options for one-time bills or charges by directly linking to customers' bank accounts through Trustly’s platform.
Virgin Media O2 has shown a sustained commitment to innovating payment processes within UK telecoms. In 2023, the company piloted direct debit automation with more than 60% uptake among eligible users. In 2024, VMO2 launched digital wallets for recurring payments, making it the first service of its kind in the UK telecoms sector.
This technology rollout is designed to speed up sign-ups and payment execution while enhancing security and convenience for VMO2 users. Christian Hindennach, chief commercial officer at Virgin Media O2, stated that the partnership will improve customer service and offer quicker and more secure ways to sign up and simpler payment options.
Johan Tjärnberg, group chief executive officer of Trustly, expressed that this collaboration marks a meaningful advancement in the adoption of Pay by Bank solutions in the UK. Trustly has previously partnered with Hargreaves Lansdown and government departments like HMRC in the UK.
The partnership is significant for Trustly, as it is a recognized leader in digital payments innovation and e-commerce within the telecommunications sector. The integration of Trustly's advanced payments technology will streamline payments and onboarding processes for VMO2.
One-off Pay by Bank payments will simplify processes for customers by enabling a seamless connection to their bank account using Open Banking services from Trustly. This partnership positions VMO2 at the forefront of Open Banking payment innovation in the UK telecom sector, supporting the UK Government’s vision to increase adoption of account-to-account payments and improving ecommerce payment efficiency.
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 Open Banking, up from just one in 17 in March 2021. This partnership is a meaningful advancement in the adoption of Pay by Bank solutions in one of Trustly's most strategically important markets, the UK.
In conclusion, the partnership between Virgin Media O2 and Trustly is set to revolutionize the way customers pay for digital services in the UK telecom sector, offering faster, safer, and more seamless payment experiences.
- The partnership between Virgin Media O2 and Trustly, a global leader in Pay by Bank technology, aims to streamline one-off payments and automate direct debit account setup, making it more secure for VMO2 users.
- Key aspects of this initiative include the introduction of automated direct debit account setup, which securely authorizes direct debits via Open Banking and streamlines recurring payment collection.
- The collaboration integrates Trustly’s Pay by Bank technology into VMO2’s customer onboarding and billing processes, enabling customers to connect their bank accounts in real-time without manual bank detail entry.
- Trustly's advanced payments technology will streamline payments and onboarding processes for VMO2, positioning the company at the forefront of Open Banking payment innovation in the UK telecom sector.
- In conclusion, the partnership between Virgin Media O2 and Trustly is expected to revolutionize the way customers pay for digital services, offering faster, safer, and more seamless payment experiences.
- As more consumers and businesses adopt Open Banking in the UK, this partnership marks a meaningful advancement in the adoption of Pay by Bank solutions within one of Trustly's most strategically important markets.
