Trustly has announced the acquisition of European recurring payments company SlimPay.

The global payments business said the move is part of its plan to “set a new standard” for recurring payments in continental Europe and the UK.

Trustly added that the purchase will provide “error free” payment registration, better conversion and flexibility, and enable consumers to pay bills, subscribe to a service or opt for flexible payment plans.

The move comes after the Swedish FinTech launched Trustly Azura, a new technology and data engine designed to improve personalisation and data optimisation.

The company says that by adding SlimPay’s recurring payments and its data interface to its offering, it expects to further accelerate the roll-out of Azura.

“We are thrilled that SlimPay is joining Trustly,” said Johan Tjärnberg, group chief executive of Trustly. “SlimPay’s SEPA solution for modern Direct Debit in combination with the optimised experience of Trustly Azura will together be able to revolutionise the recurring payment experience and create a new industry standard."

He continued: "The addition of SlimPay is fully in-line with Trustly’s strategy to offer a unique 360 degrees embedded experience across all types of digital payments.“

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