Why Virgin Media O2 is Backing Trustly's Open Banking
Virgin Media O2 (VMO2), one of the UK’s largest telecommunications providers, has announced a strategic partnership with open banking Pay by Bank solutions provider Trustly.
The collaboration will deliver a next-generation payment experience through the integration of Trustly’s advanced Open Banking platform, enabling direct debit account automation and seamless one-off Pay by Bank transactions for VMO2 customers.
Virgin Media O2 is recognised for its commitment to digital innovation across the telecoms industry.
With around 45 million UK connections and a network spanning more than half the country, it is a pioneer in modernising digital payment systems.
Notably, it was the first UK telecommunications operator to invest in Open Banking, launching a pilot for direct debit account automation in 2023 that achieved an uptake rate of over 60% among eligible users.
Accelerating payment innovation in telecoms
Through its partnership with Trustly, VMO2 will further streamline the process of signing up and paying for services.
The integration of Trustly’s technology enables a secure, real-time connection to customers’ bank accounts, providing a smoother and faster experience without the need for card details or manual data entry.
Christian Hindennach, Chief Commercial Officer at Virgin Media O2, explains: “We’ve been making real progress with our plans to improve the service we offer our customers over recent months and, as part of this strategy, we’re always looking at rolling out new products and services that can improve their experience with us.
"This partnership with Trustly will do exactly that – providing our customers with quick and secure ways to sign up and even simpler payment options to access our services, and ensuring we remain at the forefront of digital innovation with unmatched capabilities.”
The Pay by Bank offering will initially support two key use cases: onboarding new customers via automated direct debit setup and enabling seamless one-off payments through bank connectivity.
By design, the enhancements improve customer experience, reduce onboarding friction and support operational efficiencies.
Trustly strengthens UK market focus
For Trustly, the collaboration with VMO2 marks a significant milestone in its UK growth strategy.
Its patented open banking infrastructure already supports more than 9,000 merchants globally, processing nearly US$100bn in payments in 2024. Its technology connects merchants to more than 650 million consumers across 12,000 banks in over 30 markets.
The UK is a key market for Trustly, with existing partnerships including Hargreaves Lansdown and government departments such as HMRC.
Johan Tjärnberg, Group CEO at Trustly, says: “We are pleased to announce our partnership with Virgin Media O2, a recognised leader in digital payments innovation and eCommerce within the telecommunications sector. This collaboration marks a meaningful advancement in the adoption of Pay by Bank solutions in the UK, one of Trustly’s most strategically important markets.
"By integrating Trustly’s technology, Virgin Media O2 will be able to streamline its digital payments infrastructure further and simplify onboarding processes, delivering a faster, safer and more seamless payment experience for its customers using innovative Open Banking services by Trustly.”
Aligning with government and industry trends
The partnership supports wider industry and government efforts to expand Open Banking adoption in the UK. As of March 2025, 13.3 million UK consumers actively use Open Banking services, equivalent to one in five people, a significant increase from just one in 17 in 2021.
By embracing Open Banking at scale, VMO2 is not only improving customer experience but aligns with national objectives to increase the use of account-to-account payment models.
As the telecoms sector continues to evolve in response to growing digital demand and shifting consumer expectations, partnerships like this highlight how leading providers can deliver better, more intuitive payment journeys through strategic collaboration.
With Trustly’s technology and VMO2’s digital leadership, the stage aims for an elevated payment experience that meets the demands of today’s connected customer.
