TrueLayer, Europe’s largest Pay by Bank network, has announced the acquisition of Zimpler, the fastest-growing Pay by Bank provider in the Nordics, in a landmark deal that consolidates TrueLayer’s position as a dominant force in European Open Banking payments.
TrueLayer builds European Pay by Bank network
The move combines two of the continent’s most innovative players in account-to-account (A2A) payments and marks a significant milestone in the evolution of Pay by Bank as a mainstream alternative to cards.
By merging TrueLayer’s pan-European infrastructure with Zimpler’s deep local presence and regulatory strength in the Nordics, the combined company will command more than 20 million users across key markets including Sweden and Finland.
TrueLayer processes over 40% of all open banking payments in the UK and maintains significant market shares in other key EU markets, such as over 90% in Ireland and 65% in France.
The company surpassed 15 million active users by mid-2025 and continues to add users rapidly, reaching nearly 20 million after the Zimpler acquisition, its annualised transaction volume has exceeded $80 billion, with over 300 million annualised transactions as of August 2025, reinforcing its category leadership.
Accelerating the Shift from Cards to A2A Payments
The acquisition underscores the rapid shift underway in Europe’s payments ecosystem.
Pay by Bank, which enables consumers to make instant, secure payments directly from their bank accounts, is increasingly being adopted by merchants seeking to reduce card processing fees and fraud risk while improving settlement speed.
TrueLayer’s expansion into the Nordics—one of the most advanced A2A payment regions globally—will also bring new integration with Swish, the region’s leading instant payment rail.
The combined network aims to accelerate the transition from legacy card systems towards faster, lower-cost, and more transparent payment experiences for businesses and consumers alike.
A Unified European Network
“This deal is not just about scale—it’s about combining talent, technology, and ambition to reshape how Europe pays,” said Francesco Simoneschi, Co-founder and CEO of TrueLayer.
“We’re proud to welcome the Zimpler team as we accelerate Pay by Bank adoption across the continent and continue building a truly pan-European Open Banking infrastructure.”
Johan Strand, CEO of Zimpler, said the partnership would unlock new growth opportunities: “Joining forces with TrueLayer allows us to build the leading Pay by Bank provider in Europe while maintaining our local expertise and Swedish roots.”
With this acquisition, TrueLayer strengthens its position as the leading Open Banking payments network in Europe—poised to challenge card dominance and deliver the next generation of digital payment innovation.
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