Trustly Banking

Trustly is a company that develops and sells online payment solutions since 2008. It’s a fast-growing Swedish company that offers services designed for the merchant, consumer and bank, across Europe. To date, they have offices in Sweden, Malta, Spain and the UK, are operational in 29 countries and connects 96 banks across the continent. Here’s a quick overview of how their services work and what you should know as a user or merchant. T&C's apply to all bonus offers on this site. Click for a list of all banking methods.


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Trustly

How It Works?

For online payments Trustly uses Payout Express, which allows for fast and secure payouts straight from the merchant’s checkout page. There’s no account needed and whether it’s made on desktop or a mobile device doesn’t really matter as it works on both, without compromise.

All the user has to do is choose their bank, login and choose the account used to make the payment. Such transactions are usually processed in minutes and not days, as it often is with cross-border bank transfers.

For merchants, Trustly promises simple access to all the banks in the market. There’s no coding required as it works with the most common e-commerce platforms. For more advanced users, they also have an API and example codes for PHP, Java and Python. Payments monitoring is made easy with daily statements for all the settlements, banks and markets. More tools and info on the integration are available on the official site.

Security

Security is of utmost importance, especially when it comes to banking. As such, the company operates under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen), and conducts payment services in accordance with the Payment Services Act (2010:751).

In addition to that, to reduce the risk of chargebacks, as soon as a transaction is complete it becomes irreversible. And since the company also supports bank-specific authentication methods, transactions cannot be made unless the user provides their online banking credentials, including the one-off code for an additional precaution.

Banking

From the user’s end point, all transactions are free of charge. Merchants, on the other hand, just have to sign one agreement to have all the tools available in one place.

As mentioned earlier, merchants would also be pleased to know that Trustly works with major shopping modules and e-commerce platforms, including Magento and Woocommerce. Their B2B partners include iDEAL, Skrill and PayPal.

Thanks to their wide success, Trustly is also accepted across hundreds of gaming sites, especially the ones operating in Sweden.

Summary

Trustly is a Swedish FinTech company that develops and sells online payment solutions. Established in 2008, it has quickly become a go-to banking method for many users across 29 countries and merchants that can count on one simple integration and connection to almost a hundred banks.

Click here to visit Trustly official website.

Posted by CCJ Team