Trustly is a regulated payment institution that allows instant bank transfers throughout Europe. This platform, which has grown by more than 90% over the last few years, was born in Sweden in 2008, and has since handled more than 1 trillion euros in transactions. A global leader in online banking payments, Trustly’s network encompasses more than 200 different banking integrations in most EU countries, the UK and the Nordic countries.
As an online payment provider, it expedites bank transfers, guarantees the security of the transfer, thanks to its encryption technology, which makes it possible for your online payments to be 100% secure in all cases, and even acts as a mediator in the event of a dispute.
Its services include sending money to customers (pay-out). The transfer is made through high-tech software, and if the recipient of the transfer is within the Single Euro Payments Area (SEPA), it is made immediately. Thus, e-commerce, financial services companies, or any other web portal that allows payments and deposits can send money faster, has no risk of fraud (chargebacks) and can automate payments.
Companies like Skrill or Worldpay use Trustly’s services, as do online casinos. For example, Trustly casinos are very popular because this payment method allows immediate withdrawals by executing a transfer that arrives instantly for most bank accounts.
Another service offered by Trustly is the pay-in service, which allows customers to initiate a payment from the merchant’s own website. The customer only has to log in to his online bank, select the bank account from which he wants to make the payment and finally verify the payment. He will receive the money in real time or within a maximum of 24 hours.
Also available is the option of KYC, customer verification; this verification process is used by financial companies, online gambling portals, among others. It serves to prevent fraud by checking the customer’s data, verifying that he/she is the account holder.
The key to its success lies in the possibility it offers online shoppers to make payments from their own bank account without having to move their money to other accounts and increasing payment security.
In addition, the consumer does not need to register, fill in forms or open email accounts in order to make the payment. On the contrary, they simply access their own bank through Trustly’s technology and confirm the payment with the one-time password generated by their bank as a coordinate card key or via sms.
It is also useful to know that depending on the bank in which the account is; the withdrawal periods can be immediate or take one business day, the minimum amount to withdraw through this means is 20 euros and this action can be done without having to have entered by this method. It is also faster than withdrawing through bank transfer.
The advantages of Trustly are not limited to e-commerce purchases, although this is one of its strong points. As it is based on facilitating transfers, this will also make it possible to receive in the bank account an online loan that is requested on the spot.
Undoubtedly, Trustly has become a very practical online payment solution for users in the more than 30 countries where it is available.