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Financial

Trustly reported to Swedish Competition Authority by Zimpler

Zimpler has reported Trustly to the Swedish Competition Authority (Konkurrensverket) over locking companies into exclusive, expensive contracts and stopping them from adopting other services.

sweden

Swedish fintech company Zimpler believes it has evidence of this and that Trustly is stopping it doing business with gaming companies holding a Swedish license.

Zimpler believes operators are not making contracts with them to avoid damaging their relationship with Trustly.

Gambling Insider has been sent a copy of the complaint and, when contacted for comment, Oskar Bjursten, CEO of Zimpler, said: “I note Trustly’s answer to the Swedish Competition Authority differs from the experience Zimpler and our merchants are having. 

“While it is gratifying to hear Trustly admits to the use of exclusivity clauses within the area of direct bank payments, we do not share Trustly’s view that it will mean our merchants will have enough flexibility.”

When contacted for comment by Gambling Insider, Trustly responded with the following statement: “Zimpler’s complaint contains numerous factual errors and in our opinion has no merit. Trustly is a relatively small payment solution in the online payments market full of competing international and domestic payment services providers and payment solutions including Visa, Mastercard, PayPal, Swish, Skrill and others.

“There are new and innovative players entering the payments market all the time and it’s reasonable to measure the success of a payment solution by how much market share it can take from established players.

“We have submitted our response to Konkurrensverket (KKV) and believe they will agree Zimpler's complaint has no merit. However, we want to allow KKV the time it needs to review our response before we publically go into any details.”

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