For years, Sweden has dominated Europe’s market for instant bank payments. Companies such as Trustly, Brite Payments and Zimpler have become familiar names across industries ranging from e-commerce to online gambling, helping millions of consumers move money between their bank accounts and merchants within seconds.
Now, a Finnish challenger is looking to establish itself in the same rapidly growing market.
Helsinki-based Trumo Finance is positioning itself as a provider of account-to-account payment solutions just as Finland prepares for one of the biggest changes to its gambling industry in decades. The country’s transition from a monopoly system to a licensing model in 2027 is expected to attract dozens of international operators, creating demand for payment solutions that combine speed, security and regulatory compliance.
From Pay N Play to the next generation of payments
Swedish companies have enjoyed a significant head start in this field. Trustly, Brite Payments and Zimpler are today among the most widely used payment providers at licensed online casinos throughout Europe.
Trustly was also the company that fundamentally changed the online casino experience. Its Pay N Play concept removed lengthy registration processes by allowing players to identify themselves and make deposits through a single online banking transaction. The model revolutionised by Trustly casinos, quickly became an industry standard and demonstrated how open banking could dramatically simplify digital payments, Trustly-kasinot.fi concludes.
Since then, competitors including Brite Payments and Zimpler have entered the market with their own instant payment solutions, contributing to the Nordic region’s reputation as one of Europe’s leading hubs for financial technology.
Trumo is now seeking to become Finland’s contribution to that ecosystem.
A Finnish company preparing for a changing market
Founded in 2020 and headquartered in Helsinki, Trumo describes itself as an open banking payment provider focused on industries including iGaming, e-commerce and fintech. According to the company, its platform enables real-time account-to-account payments, strong customer authentication and instant verification of bank account ownership while operating under the supervision of the Finnish Financial Supervisory Authority.
The company also maintains a technology hub in Tallinn, highlighting the increasingly integrated fintech ecosystem developing between Finland and Estonia. That cross-Baltic approach reflects a broader trend in Nordic financial technology, where companies often build products across several neighbouring markets before expanding elsewhere in Europe.
Finland’s gambling reform creates new opportunities
While Trumo’s technology has applications well beyond gambling, the sector represents one of the most demanding environments for payment providers.
Online gambling operators require instant deposits, fast withdrawals, reliable identity verification and strict anti-money laundering controls. Payment providers therefore play a central role in ensuring both a smooth customer experience and compliance with regulatory requirements.
These requirements are becoming even more relevant as Finland prepares to replace Veikkaus’ online monopoly with a licensing system. Applications for gambling licences opened earlier this year, while licensed operators are expected to begin offering services from July 2027. The reform is intended to channel Finnish players towards regulated operators while strengthening consumer protection and oversight.
Trumo launched its payment platform ahead of these regulatory changes, with company executives stating that the business was created specifically to support operators entering the future Finnish market. According to industry publication iGaming Business, the founding team combines decades of experience in fintech, engineering and online gambling technology.
More than just casino payments
Although online casinos have often been among the earliest adopters of instant bank payments, the underlying technology has far broader applications.
Account-to-account payments are increasingly being used in online retail, subscription services and financial platforms as businesses seek alternatives to traditional card payments. Open banking also allows consumers to authorise payments directly from their bank account without sharing card details, reducing costs for merchants while simplifying the checkout process.
As European consumers continue to expect faster and more seamless digital payment experiences, companies operating in this sector are likely to become increasingly important across a wide range of industries.
Whether Trumo can establish itself alongside larger Nordic competitors remains to be seen. However, Finland’s forthcoming gambling reform provides the Helsinki-based company with a timely opportunity to showcase its technology in one of Europe’s newest regulated online gambling markets, before expanding further into the broader digital payments landscape.