Active since
2008
Head office
Stockholm, Sweden
Founder(s)
Carl Wilson, Joel Jakobsson, Lukas Gratte
Funding rounds and investors
Nordic Capital, Black Rock
Service provider type
Open Banking enablers
API connectivity for payment initiation
API connectivity for data retrieval & value-added services on the data
Consent management
How it works
Customers click on Trustly and select their bank. Trustly seamlessly allows them to authenticate the payment, typically using biometrics in their bank’s app. On desktop, users have a choice to scan a QR code on the screen to complete the payment on mobile, or use the bank’s desktop authentication.
What problem does the company solve
Trustly is revolutionising debit payments with account-to-account services and Open Banking innovation. Trustly actively increases payment conversion and eliminates fraud/chargebacks while speeding up settlements. Proprietary instant pay-outs/refunds delight customers and reduce merchant support costs. Trustly’s lower fees, no fraud, single API & PSP connectivity, and unique cross-border liquidity management are all designed to reduce payment acceptance costs.
Types of supported APIs\API standard supported
JSON API
Industries/target markets
Ecommerce, Travel, Financial Services, Digital Goods, Subscriptions, Online Gaming
Geographical coverage (operational area)
Europe, UK, USA, Canada, Australia
Business model/pricing
Per transaction percentage and/or fixed fee, which varies depending on volume
Technology
Native Cloud
Software language
Java, PostResSQL & others
Software developement tools
Developer Portal; API manual online, designated integration support, plugins for web shops and platforms, SDK for apps.
When was the core technology developed
Do you have redundancy and coverage provided by multiple integrations (APIs & Direct Access)?
YES
How will you handle automated refunds?
Trustly not only automates refunds but delights customers with instant refunds. Merchants can process refunds (in-market and cross-border) via API – with Trustly managing liquidity and delivering local instant settlements. Trustly instant refunds are preferred by 95% of customers and merchants support costs would be reduced by up to 20%.
How will you mitigate the risk of bank transactions failing?
Using both intra-bank networks and instant schemes, Trustly creates highly reliable instant payments. Trustly's risk system warns merchants of potential risk and prevents losses. We use live data to predict payment failures and notify merchants when they can expect settlement. We also use intra-bank payments to minimise risk wherever feasible.
How will you reconcile payments efficiently?
Trustly uniquely collects and reconciles in-market and cross-border account-to-account payments, providing merchants detailed reconciliation and daily batch settlements to their bank accounts. Trustly is also fully integrated into more than 60 reconciliation and settlement processes for Payment Service Providers – requiring no additional development from merchants to offer our services.
Partners
Trustly is accessible through over 60 partners and can be seamlessly enabled via PPRO and ACI to Payment Service Providers. Our partners include Adyen, Axepta BNP Paribas, Collector Bank, Computop, Devcode/Ingenico/Wordline, Nuvei, Payoneer, Qliro, Quickpay, Resurs Bank, Svea Ekonomi, Swedbank Pay, Worldpay, and many more.
Customers / Case studies
Dell, eBay, Facebook, Finnair, Flywire, KLM, PayPal, Zalando more.
Awards
MPE Awards - Won Best PISP, Emerging Payments Award - Best CSR or Charity initiative, Wealth and Finance Award - Won Europe Award for Innovation in eCommerce Payments, FT1000 - recognised on list of fastest growing companies for 4 years in a row, DI Master Gasell - one of Swedens fastest growing companies 5 years in a row.
Business revenue
N/A [Transaction value USD 21 billion in 2020]
Contact
presales@trustly.com
Website
www.trustly.com