LONDON (Reuters Breakingviews) - TRUST TEST. A Swedish fintech startup is the latest to cash in on the digital payments boom. BlackRock-backed Trustly said on Monday it is planning an initial public offering in Sweden which Reuters reported in January could value the company at up to 9 billion euros. Chief Executive Oscar Berglund says the company will sell shares worth 8 billion Swedish crowns (785 million euros), part of which will be used to redeem preference shares and repay debt. Trustly lets consumers pay online directly from their bank accounts, bypassing credit card networks dominated by Mastercard and Visa and reducing fees for merchants by up to a half. That sets it apart from larger rivals like Adyen, Stripe and Klarna. Revenue last year grew 40% to 2 billion Swedish crowns. With ever more companies offering investors a way to play the online payments frenzy, the IPO will serve as the latest test of fintech investors’ appetite. (By Karen Kwok)
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