Kivra and Trustly introduce updated version of Autogiro

The new service allows users to set up direct debit through a streamlined BankID confirmation process, reducing the complexity of registration. For businesses, the solution is designed to improve payment timeliness, decrease administrative tasks, and facilitate payment processing. 

Kivra is a prominent digital mailbox provider in Sweden. The company has partnered with Trustly, a provider of Pay by Bank solutions, to enhance the efficiency and security of automated payments.

Streamlining direct debit activation 

According to officials from Trustly, Open Banking is evolving globally, and Sweden’s strong fintech ecosystem provides an ideal environment for testing new payment technologies. They noted that the collaboration with Kivra aims to establish a more effective model for digital payments. 

The updated Autogiro service enables users to activate direct debit quickly, as bank account details are pre-filled, requiring only a BankID confirmation. This approach reduces errors and increases the likelihood of successful registrations. Payments are processed automatically, with users retaining oversight through notifications and spending limits. 

For businesses, the solution offers improved cash flow management, minimises the need for manual payment follow-ups, and contributes to a higher rate of on-time invoice payments. 

Representatives from Kivra stated that the partnership with Trustly represents an effort to modernise the payment experience for businesses and consumers in Sweden. They highlighted that the enhanced Autogiro service is intended to provide businesses with a more efficient method for handling transactions. 

The service is being launched in conjunction with Stockholm Fintech Week, Sweden’s largest fintech conference. The energy provider GodEl was the first company to implement the solution, allowing its customers to make payments through Kivra.

A closer look at Trustly 

Trustly specialises in Pay by Bank solutions and, it provides payment services through its Open Banking platform, connecting consumers and merchants. Trustly processes transactions in real-time and collaborates with various businesses, including PayPal, eBay, and Coinbase in different markets.  

Founded in 2008, Trustly is a licenced Payment Institution under the second payment services directive (PSD2) and is regulated by the Swedish Financial Supervisory Authority in the EU and EEA, as well as by the Financial Conduct Authority in the UK. In the United States, it complies with state regulatory requirements.

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