The initiative aims to offer Lenovo customers an alternative payment method designed to be faster, simpler, and more secure compared to traditional credit or debit card transactions. According to the official press release, Trustly reports a notably low fraud rate of 0.01% on its ecommerce platform, underscoring the heightened security of its Open Banking solution. This technology enables customers to directly pay for Lenovo products and services from their bank accounts, leveraging strong encryption measures to proect personal data and enhance transaction security.
Some of the primary benefits for Lenovo include faster settlement times and instant refunds facilitated by Trustly's collection model, which operates at a lower cost than conventional card payments. The integration of Trustly’s Open Banking checkout service is expected to streamline the payment experience for Lenovo’s customers, providing them with additional choice and security.
Trustly, established in 2008, has grown into a prominent global provider of Open Banking payment solutions. Operating under regulatory oversight in the EU, EEA, UK, and US, Trustly serves over 9,000 merchants across more than 30 markets, connecting millions of consumers to their banking services through a network of over 12,000 banks.
Regarding these new developments, officials from Trustly noted that the service will provide Lenovo customers with a straightforward and secure payment option, reducing checkout times significantly. Representatives from Lenovo also highlighted that this initiative aims to enhance the checkout experience by providing a faster and more secure payment method.
For more information about Trustly, please check out their detailed profile in our dedicated, industry-specific Company Database.
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