General

Trustly, a platform with multiple services

2 Mins read

Trustly, the platform for electronic payments adapted to cell phones, tablets and computers, originally founded in 2008, is one of the fastest growing online payment methods available as of 2020. Currently, this payment provider processes more than one million transfers per month. 

This payment method, which is widespread in countries such as Sweden, the Netherlands, Norway, Denmark and Germany, among others, has gained popularity among customers because it is completely free to use and offers the possibility of logging in with your online bank account. 

Trustly’s goal is to reduce barriers to e-commerce through a smart payment method that maximizes security for all parties involved: users, merchants and banks, while at the same time providing ease of use by replicating the usual steps of online banking. This makes it a familiar payment method for the user.

Reasons that have led this platform to be used to pay and acquire a large number of products and services such as tourism packages, financial services, deposits in online games, especially in casinos and purchases in virtual stores.

Thanks to Trustly you can accept payments, make disbursements and access valuable data to better understand your customers. Easy activation and the possibility of using different currencies allow you to expand your business and cross borders. 

Another service offered by the company is the Direct Debit product; this is a solution that allows direct bank transfers and further streamlines the entire transaction process. However, it should be noted that due to the streamlining service, this solution comes with fees.

And as for its link to the entertainment industry, it is important to highlight that Trustly launched a solution just for the online gaming sector. Pay’n Play was designed to enable even faster, more convenient and secure transactions for online casino players. Thanks to this product, present in the best Trustly casinos, players do not have to create an account to make deposits and withdrawals.  

While this platform also brought its advantages for both the merchant and the consumer. For example, in the case of the former, it has increased sales between 10% and 20% depending on the sector, thanks to a new payment option and the conversion of shopping carts that were abandoned due to credit card limits into sales.

Transactions are also instantaneous, financial fraud is reduced and bank coverage is extended in a single integration, as Trustly is the only online payment method with this option. It also offers simple reconciliation, grouping all transactions from all financial institutions in a single document, which simplifies the accounting and tracking of transactions. And it improves customer service, since instant notification of payment in real time streamlines order management and increases customer satisfaction.

And in the case of the consumer, it adds maximum security in the payment, because when paying with Trustly, the buyer needs to have the single-use code generated by his bank, as a coordinate card or sms, to authorize the payment. In addition, Trustly never decrypts the information and does not store or share it with third parties.

It also enables payments in 40 seconds without the need for previous registrations or endless forms, without the need to deposit money in other accounts or memorize new passwords and codes. All you need to do is follow the usual steps of your online banking.

It also provides the possibility to pay for high-value products, the online shopper can make use of the money available in his account. There is no credit limit restriction, unlike with credit cards. 

These are some of the reasons why Trustly is a very attractive option for customers who want to keep their payment costs low and make more profit. 

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