Trustly

The friction in payments is clear. ❌ Credit card interest rates are crushing U.S. consumers. ❌ Swipe fees are crushing U.S. businesses. “American merchants pay five times more in swipe fees for the exact same transaction than the card duopoly charges businesses in other countries.” (Retail Industry Leaders Association) Trustly gives consumers and merchants a better payment. How? Open Banking Payments, aka Pay by Bank. For consumers, it’s as simple as signing in to their online banking to: ✅ Skip payment forms altogether ✅ Pay directly from their bank account ✅ Load funds to a wallet directly from their bank For merchants, Open Banking Payments means: ✅ Coverage – all Americans with checking or savings accounts, i.e. more spending power than debit cards ✅ Conversion – higher approval rates than debit cards - due to built-in ID verification (no more false declines) ✅ Cost – no more interchange fees yet guaranteed transactions (no chargebacks!) It’s why Trustly exists. I invented Open Banking Payments. Nobody knows the space better than we do. We can show any business how to take payment acceptance from a “cost of business” to a bottomline engine. Find the friction. Eliminate the friction.

🥊 Pay by Bank VS Cards! This is it. This is the final round--or at least the final round in our blog series. In this article, we're focusing on settlement time. Which one is faster? 🤔   Well, when powered through Trustly's #OpenBanking solutions, Pay by Bank can offer a better payment for merchants for several reasons, speed included. ✅ Cutting out the middlemen during payment processing (no interchange). ✅ Guaranteeing payments (thanks to our proprietary risk engine). ✅ Directly accessing instant payment rails like RTP and FedNow. So, who wins? Check out our blog and you decide! Link below ⬇ https://lnkd.in/etWpjARP

ACE Money Transfer is an industry leader in the adoption of Pay by Bank And the company's innovative approach is paying off – most recently through yielding a significant 25% business expansion Recognising the value of Open Banking, ACE Money Transfer actively promotes it at the checkout. Customers who choose it are incentivised for wider adoption of this secure and efficient payment method, resulting in a win-win for all parties involved The win for the company? A 40% growth in remittances More on this below:

Our Head of eCommerce, Christina Potter, chats with PYMNTS about our vision 💡 for #OpenBanking at retail and how merchants that adopt #PaybyBank options will be “among the most innovative players and will be steering ‘ahead’ in terms of payment acceptance.” Check out the full interview below to learn more about Trustly is challenging card dominance and high interchange fees for merchants with our Open Banking solutions! Thank you, PYMNTS, for having us! 🚀

🎙️ INTERVIEW: Oscar Berglund joins Qorus to talk about our revolutionary AI-powered subscription payments launch Oscar also tells the story of exactly how Trustly started back in 2008, and what's coming next for the company 👇🏼 Read more below:

Technology for the sake of technology doesn’t interest me. In fact, I would say I’m only interested in technology if it solves a customer problem. In the late 2000s, I noticed that iDEAL, a brand new payment method in The Netherlands, had emerged from nowhere to process 70% of the country’s online transactions within a few years of launching. It gave consumers an easy way to pay with their bank, and merchants an alternative to expensive card rails. Well, iDEAL is the first Open Banking Payments / Pay by Bank solution that achieved monster success. I knew then it was time to bring PayWithMyBank back to the U.S. – where I invented the model in 2000. But what problems does this Pay by Bank technology solve for consumers and merchants? ✅ Open Banking Payments are a new, “form free” user experience paradigm. Simple. No registration. No card, bank routing/account or billing form to complete. To pay, the consumer signs in to their online banking, from memory, without leaving the merchant’s site/app, chooses a checking or savings account, and confirms.   ✅ Open Banking Payments give merchants another payment acceptance option that delivers on “the 3 Cs”: Coverage (all banked consumers), Conversion (high approvals), Cost (lower than debit, with no chargebacks).  Adding it at checkout enables the merchant to increase revenue and decrease payment costs. ✅ Open Banking Payments give consumers and merchants peace of mind when it comes to security and fraud. The consumer must go through their bank’s strong authentication, i.e. username password one-time code sent to mobile today, which is progressively being replaced by the even simpler Face ID – much more robust than the 3 digits on the back of a card! These are only three problems that Open Banking Payments can solve for consumers and merchants. What are some other benefits? Let me know in the comments 👇

The World’s Top Fintech Companies 2024? We made the list again Thanks CNBC! The past year has proven a transformative one for our sector. In this climate, CNBC, together with market research firm Statista, has listed the top 250 fintechs globally:

If you were expecting a refund, insurance payout, etc., would you rather get paid instantly or wait several days? 🤔   Instantly, right? ⚡   No one likes waiting for their money. With #OpenBanking, businesses can offer instant payouts across industries, improving consumer experience and streamlining payments operations. Discover how in our latest blog! ⬇   https://lnkd.in/ej_RRDqt

📢 Another major brand adds our technology at the checkout! Today we’re proud to announce Lenovo is launching Trustly in the UK and Europe 💻 Angus Cormie, Head of eCommerce EMEA at Lenovo, told us: ‘We’re always looking for ways to transform our payment experience with innovative technology’ 👉🏽 More here: https://lnkd.in/e-mmZx9u

Fraud! ⚠ Seems like it's always looming around payments and personal info (spoiler: it is). That makes KYC mission-critical for businesses.   But how do you streamline KYC without cutting corners? 🤔 We've got the answer in our latest blog where we list 4️⃣ key ways businesses can optimize the KYC process using #OpenBanking. Link below! 👇 https://lnkd.in/eEzeM5dU