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A Finnish challenger steps into a market long led by Sweden
Finland’s overhaul of its online gambling market is creating opportunities beyond casino operators. As the country moves toward a licensing system in 2027, payment providers are preparing for a sharp increase in demand for faster and more secure transactions.
One of the companies hoping to benefit is Helsinki-based Trumo Finance. Founded in 2020, the fintech firm is positioning itself as Finland’s answer to Sweden’s established open banking payment providers, entering a space that has been shaped for years by names such as Trustly, Brite Payments and Zimpler.
Those companies helped redefine online casino payments across Europe by making instant bank transfers the norm. The introduction of Pay N Play technology, which combined player verification and deposits into a single banking transaction, significantly reduced registration times and changed how many licensed gambling sites onboard new customers.
New licensing system changes the payments landscape
The timing is no accident.
Finland is replacing Veikkaus’ online gambling monopoly with a licensing framework designed to bring international operators into the regulated market. Licence applications have already opened, while licensed operators are expected to begin offering services in July 2027.
That shift brings new technical demands. Gambling platforms need instant deposits, rapid withdrawals, reliable identity checks and payment systems that satisfy strict anti-money laundering requirements. As a result, payment providers become a critical part of both regulatory compliance and the overall customer experience.
Trumo says its platform was developed with those requirements in mind. Operating under the supervision of the Finnish Financial Supervisory Authority, the company offers account-to-account payments built on open banking technology, along with strong customer authentication and real-time verification of bank account ownership.
The business also runs a technology hub in Tallinn, reflecting the increasingly connected fintech ecosystem developing across Finland and Estonia.
Beyond online casinos
Although gambling is expected to provide an early growth opportunity, the technology reaches much further.
Open banking payments are becoming more common across e-commerce, subscription services and financial platforms as merchants look for alternatives to traditional card networks. Direct bank payments can lower transaction costs while allowing consumers to complete purchases without entering card details.
For Trumo, Finland’s gambling reform may serve as an important launchpad rather than the final destination. The country’s newly regulated market offers a chance for a domestic fintech company to prove itself against larger Nordic rivals before pursuing broader expansion across Europe’s fast-growing digital payments sector.
Sources: www.helsinkitimes.fi
