Flywire Expands Open Banking Partnership with Trustly to Improve Payment Efficiency
On August 12, Flywire (NASDAQ:FLYW) expanded its partnership with Trustly to introduce 'Pay by Bank' open banking payments in the US and Canada. This integration allows users to authorize ACH or Pre-Authorized Debit transfers directly from their bank login, reducing errors typically associated with manual entry of routing numbers. The move aligns with Flywire's strategy to streamline cross-border payment processes using real-time balance checks that prevent insufficient funds issues before transactions are submitted. This expansion follows a successful European rollout and supports the company’s growth trajectory as it reported 27.2% year-over-year revenue increase in Q2 2026, reaching $167.7 million. Despite strong top-line performance, Flywire's gross margin declined to 53.4%, down from 57.0% a year earlier, signaling potential challenges with profitability as it scales faster. The company also reported a GAAP net loss of $8.1 million for the quarter and remains cautious about growth in its education sector due to visa policy uncertainties.
Tickers: $FLYW
Topics: cross-border payments open banking partnerships revenue growth