Swedish fintech company Trustly has expanded its international footprint by launching services in Australia and Canada.

The expansion into Australia marks the company’s entry into the Asia Pacific (APAC) region, while foray into Canada boosts its coverage in North American market.

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The move is line with the company’s plan to develop a global online banking payments network, which will complement its existing network in Europe and the US.

Trustly CEO Oscar Berglund said: “Expansion into both Australia and Canada is a major milestone in our ambitions to build a global Online Banking Payments network.

“They are both large markets with great potential and we already see high demand from merchants that are looking for Open Banking solutions and a compelling alternative to card payments.”

Founded in 2008, Trustly specialises in online banking payments and employs 500 people across Europe, the US and Latin America.

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Its account-to-account network bypasses the card networks, which allows customers to make faster and secure payments to merchants via their bank accounts.

The PSD2-compliant fintech currently supports over 6,000 banks and enables nearly 600 million customers across Europe and North America to make payments.

Trustly also supports merchants in e-commerce, financial services, gaming, media, telecom and, travel industries.

The latest move comes after Trustly secured new investment from several investors in June to support its investment in infrastructure and global expansion.