Trustly partners with MoneyGram

Wednesday 20 March 2024 11:57 CET | News

Open Banking payments provider Trustly has announced its collaboration with MoneyGram, aiming to introduce cardless payments for the latter’s users across Europe. 

As per the information detailed in the press release, the partnership between Trustly and MoneyGram intends to allow the latter to launch cardless payments for its user base located across Europe. Currently, the collaboration is available in select European regions, with it recently extending to additional countries such as the UK and Germany.

Open Banking payments provider Trustly has announced its collaboration with MoneyGram, aiming to introduce cardless payments for the latter’s users across Europe.

Trustly – MoneyGram collaboration objectives

MoneyGram Online (MGO), the company’s website and app, enables customers to send international money transfers with increased flexibility by paying directly from their bank accounts. The service, made possible through Trustly’s Open Banking platform, is set to allow MGO users to bypass the need to manually enter card information on the app. According to Trustly’s officials, the collaboration with MoneyGram intends to enable to company to provide its payment product to the latter’s users. By working together, Trustly aims to deliver customers the ability to transfer money conveniently, utilising collective cross-border capabilities and reliability.

Furthermore, the service leverages Trustly’s proprietary data engine, which provides financial institutions with a pay-with-bank infrastructure that is equipped with near-instant payments and KYC features. Trustly’s customer base includes tech and fintech organisations such as Dell Technologies, T-Mobile, Lyft, and MoneyGram as of the announcement. Representatives underlined that, since its launch, MoneyGram has been committed to offering innovative, secure, and convenient global money transfer solutions while meeting customers' dynamic requirements and preferences. The collaboration with Trustly aims to continue to simplify the money transfer process for more consumers across Europe.

Trustly’s recent announcements

In addition to its latest announcement, Trustly entered several collaborations to advance its development strategy. For example, at the beginning of March 2024, Socure partnered with Trustly to offer optimised onboarding processes and Open Banking payment methods for merchants. The two companies were expected to merge their expertise and suite of solutions to provide a secure and efficient onboarding process, as well as Pay by Bank tools for merchants and traders. Also, the alliance was set to enable customers who operate in industries that require enhanced KYC procedures, including gaming, investing, trading, and financial services, to receive the ability to simplify their customer onboarding processes, while also delivering fast and safe payment methods.

Prior to this, Trustly integrated MX Technologies’ data enhancement services as part of its Open Banking product suite. The company aimed to enable an intuitive, convenient, and safe payment method via its Pay by Bank service. By utilising the solution, merchants were set to be allowed to develop improved experiences and minimise costs.

For more information about Trustly, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: partnership, online payments, payment methods, money transfer, bank account
Categories: Payments & Commerce
Companies: MoneyGram, Trustly
Countries: Europe
This article is part of category

Payments & Commerce




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