Trustly joins forces with Futon Company

As part of their partnership, Trustly and Futon Company intend to allow a simplified, safer, and more efficient payment process for the latter’s consumers with the support of the Pay by Bank service. As an account-to-account payment method, Pay by Bank received significant traction over the last few years, enabling consumers to make direct payments to merchants from their bank accounts.

In addition, by opting to leverage Pay by Bank, consumers receive the ability to conduct instant payments from their mobile banking app or online banking portal. The service can automatically fill in all payment details, including the recipient’s bank information and the payment amount, thus working towards simplifying the entire transaction process.

Through Trustly’s platform, the two companies aim to ensure the safety and security of transactions, despite the amount, while also minimising fraud risk. Also, the collaboration between Futon Company and Trustly is set to enable them to reduce dependency on conventional card payments and decrease operational costs by removing intermediaries. According to Trustly’s officials, considering that Open Banking payments are improving their position and becoming the preferred payment method, the collaboration with Futon Company is set to allow the latter to customise its checkout process, and enhance conversion rates.

Moreover, Trustly expressed its commitment to expanding Open Banking solutions across the UK and assisting as many companies and customers as possible to benefit from their advantages. Representatives from Futon Company also underlined their enthusiasm over the alliance with Trustly and the ability to offer customers an improved payment experience. The firm aims to advance its position in this technological industry, while also showcasing the cost savings and efficiency capabilities it provides to itself and its customers.

Source: Link