Trustly, the leading global payments platform for digital account-to-account transactions, launches Trustly Express in Finland, Netherlands, Sweden and the UK. Trustly Express reduces the number of steps at checkout for returning users for an even better, and faster, experience.
Trustly continues to take steps towards its vision to power the shift to a cardless society by making account-to-account (“A2A”) payments a new global standard, and the launch of Trustly Express further strengthens this move. Trustly Express enables merchants to significantly improve the payment experience for their end users, driving increased conversion and customer loyalty.
Built on top of the bank’s PSD2 APIs, Trustly Express reduces the number of steps at checkout for returning users. Instead of a regular experience, typically with a five step flow including two so called Strong Customer Authentications* (SCA:s) where the consumer identifies itself, Trustly Express brings the flow down to a single payment confirmation page and only one SCA.
This allows returning consumers to complete their debit payment twice as fast with the SCA step typically being biometric based (FaceID or a Fingerprint becoming a standard offering amongst banks in Europe).
Johan Tjärnberg, Group CEO of Trustly, comments: „Launching Trustly Express is another key step forward in our offensive plan to deliver superior value to our merchants with the key aim to enable them to further accelerate their growth. Being one of the first movers since A2A’s inception we are committed to continue being a game changer in our industry.”
*Strong Customer Authentication (“SCA” also known as “two factor authentication”) is a European regulatory requirement to reduce fraud and make online and contactless offline payments more secure.
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Founded in 2008, Trustly is a global leader in Online Banking Payments. Our digital account-to-account platform redefines the speed, simplicity and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to the traditional card networks at a lower cost.
Today the company serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; and in 2020 we processed over $21 billion in transaction volume in our global network.
Trustly is a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets.
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Many more interesting quotes in the video below:
