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Battle6 min read

Trustly against Nuvei: bank rails against the acquiring stack

One removed the card from the deposit flow. The other kept it and added everything else around it.

Head to head
Trustly
Payment provider
Nuvei
Payment provider
Founded
From the company record
2008
2003
Headquarters
From the company record
Stockholm, Sweden
Montreal, Canada
Ownership
As publicly reported
Private (Nordic Capital)
Private (Advent International, 2024)
Deposit rail
What the money actually moves over
Account-to-account, open banking
Card acquiring plus alternative methods
Registration
What the player has to do first
Pay N Play removes the separate signup
Standard signup, then payment
Regulated markets
From this directory
UK, Sweden, Germany, Europe, US
UK, Germany, Europe, US, Canada, Latin America

Figures are reported from public filings, company statements and our own coverage. There is deliberately no winner column — this is a comparison, not a recommendation.

The deposit is where an operator loses the most players, and the two most common answers to that are structurally opposed. Trustly's is account-to-account: the player pays from a bank account, and Pay N Play goes further by removing the separate registration step entirely. That collapses two friction points into one and takes the card scheme out of the flow, along with its costs and its chargeback mechanics. Nuvei's is breadth. Card acquiring stays, and a large catalogue of alternative methods sits alongside it behind one integration, so an operator entering a new market changes configuration rather than suppliers. An operator in one Nordic market and an operator across six will not weigh these the same way, which is the point of running them side by side rather than picking one.