Flywire CorpExpansion of open banking partnership to North America reduces payment friction and failed transactions, likely boosting payment volume and demand for services.

Flywire has expanded its partnership with Trustly to bring open banking payments to customers across the US and Canada, building on a collaboration that began in Europe in 2017. The move allows payers to authorize ACH and Pre-Authorized Debit transfers directly from their bank login, reducing payment friction and failed transactions. This expansion comes as Flywire reported second-quarter revenue of $167.7 million, up 27.2% year over year, and total payment volume of $8.2 billion, up 38.2%. However, gross margin slipped to 53.4% from 57.0% a year earlier, and the company still posted a GAAP net loss of $8.1 million. Management raised full-year guidance, but CFO Cosmin Pitigoi noted conservative assumptions for the education vertical due to the visa policy environment.
Flywire CorpExpansion of open banking partnership to North America reduces payment friction and failed transactions, likely boosting payment volume and demand for services.
Expanded partnership with Flywire to North America increases Trustly's market reach and potential transaction volume.