Trustly is a European fintech company providing online bank transfers for customers and merchants which is quick, easy and secure. Its business is cross-border payment to and from consumer bank accounts in more than 12,000 European banks. It is an authorised Swedish payment company licensed by the Swedish Financial Supervisory Authority (Finansinspektionen) and licensed to offer cross-border payments to the EU/EEA. 

Trustly is a way to pay with the bank account you have, not with a card or an app. There’s even no registration or fee to start using Trustly and, for merchants offering the service, there are a few perks such as cost-effective payments and improved customer retention. 

Trustly has today over 6,300 banks in Europe and North America and 8,100 merchants.

How does Trustly work

Trustly is a fast, convenient and safe payment option for merchants. Open Banking Technology. So third parties can securely access banking data. Trustly eliminates the hold-ups created by the multiple card payment intermediaries. That means funds are faster cleared, money is immediately refunded, and happy customers don’t have to open an account or incur fees. 

Is Trustly safe to use

Trustly is secure and works with the best encryption available with bank security. It is also a Preferred Partner for Online Banking Payment & Verification at Nacha, an NGO that regulates US ACH payments. This translates into the direct donation that goes to the organisation’s efforts to make payments more convenient, safer and secure for banks and their customers. What’s more, Trustly never stores any information that can be accessed by a customer to access their bank account, so card numbers cannot be hacked and used to commit fraud. 

Benefits of Trustly for Merchants  

If you are a non-believer whether to start offering Trustly to your customers or not, here are some reasons: 

Trusted by young consumers: With Trustly, you can get the trust of Gen Z and Millennial customers who are into simple, digital payment channels. 

Embedded Stronger Customer Authentication: SCA can be a challenge with cards, but Trustly has been designed for mobile with embedded SCA. 

Excellent CX: Your customers will love the convenience of paying with Trustly, without a card, registration or manually entering information. Everything is biometrically verifiable. 

100% safe: Because your customers don’t need to share card details to access Trustly, there’s zero risk of your customers being a victim of fraud or hacking. 

Instant refunds: Instead of slow, manual card refunds, Trustly can instantaneously and automatically process the refund with an API call, so no more phone calls for support and happier customers. 

Payouts that are cost-effective: Trustily’s adaptable and competitive fees, as well as cost-effective cross-border payments, let you skip the costs of doing business in the EU and interchange and scheme fees. 

Is there a payment gateway offered by Checkout.com that uses Trustly

Trustly is just one of the payment options that Checkout.com has for businesses that accept debit cards. And that’s not all. Worldwide credit cards to the top local payment channels of the cities where you serve, wherever you serve and checkout will get you the most sales and the most conversions. Learn about all our connected payment solutions. 

Currencies  

Trustly accepts all European currencies and pays out in all European currencies (this is how you configure Trustly at signup). 

Setting up Trustly in quick pay  

Enter your Username and API password to enable Trustly in Quickpay Manager from Settings > Acquirers > Trustly. Remember to enable Trustly.  

Optimization of the payment flow  

To increase the conversion rate you can add the customer’s name in the payment (e.g. via invoice_address[name]). So the customer won’t have to enter their name twice. Once the customer has opted into Trustly in the payment window, they will then directly be taken to the page where their bank is entered. 

iDEAL  

For Trustly you first have to create an agreement with Trustly and then you receive a sub agreement for iDEAL. After these consents have been entered, iDEAL can be turned on in the manager via the Enable iDEAL button.

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