Trustly is a Swedish-based payment institution that has been licensed since its launch in 2008 under the supervision of the Swedish Financial Supervisory Authority "Finansinspektionen".
Operated by the Trustly Group AB company with the business identification number 556754-8655, the Trustly service allows banks, e-merchants and online casinos to both receive and issue payments instantly from their customers' bank accounts. On the consumer side, Trustly allows them to deposit and withdraw money from their bank account immediately by validating a 3-step process.
To ensure a legal framework for its activities, Trustly offers its secure payment services in accordance with the Payment Protocols Act "2010:751" and can therefore now permanently provide cross-border payment services within the European Union.
• Trustly is far from being a recent European venture, as the instant online payment gateway took its first steps in 2008. On the day it was born and with the support of a well-honed communication strategy, Trustly scored points by becoming profitable as soon as it opened to the public.
• In 2009, Trustly embarked on innovation to set up a new platform that was able to considerably improve the user experience with a more modern and above all more ergonomic structure. In that same year of hard work, Trustly was rewarded with 1 million transactions.
• In 2010, Trustly began to really step out of its Swedish comfort zone by setting up new offices on the island of Malta. The landmark of online casinos. During that year, Trustly recorded 2 million transactions and in the process attracted potential investors like Alfvén & Didrikson.
• In 2011, the secure online payment gateway Trustly took a good share of the cake among Swedish-based technology companies by being the fastest growing. This earned it the award for the second most innovative technology company in Sweden. In 2011, 4 million transactions were recorded and Trustly took advantage of its growing strength to set up its Spanish offices in the city of Barcelona.
In 2012, Trustly was once again awarded as the third fastest growing company in Sweden. It was a great year with over 7 million transactions.
• In 2013, Trustly caught the eye of Blocket. Blocket trusted it to efficiently secure transactions between private clients. Later that year, Trustly won the first prize for the best secure mobile money payment provider.
Trustly now allows digital transactions to be made using Western Union. To support Trustly's exponential growth, Bridgepoint Development invested €23 million. Trustly wins the Trustly CIT Golden Card award for the most innovative payment method today.
Trustly is taking its strategy a step further by looking into a possible collaboration with the giants Paypal and MoneyBookers, which later became Skrill. Trustly is launching a new module called Payout Express, which allows anyone to make payments in real time to bank accounts located anywhere in the euro zone.
• In 2014, Trustly starts to lose its way with its countless clients. Still, it retains Groupon and Facebook by processing over 1 million transactions on a monthly basis. Trustly keeps praising its powerful determination to overshadow many competitors like TrustPay by being rated 50th among companies with plans to revolutionise the financial services industry.
• In 2015, Trustly is gaining further ground by taking a new step. That of rolling out to 21 new markets in Europe in a single draft. This is when Trustly is ranked in the top 3 in the payments category at the FINTECH awards. Avanza soon becomes the first Swedish bank to offer its 500,000 customers instant deposits from other banks using Trustly services.
• Last time I checked, in 2016, Trustly opened new offices in London and Cologne. The future looks very bright!
Trustly allows online purchases to be made from online shopping shops. The only condition is that these online shops are in partnership with Trustly. But as we can now understand, Trustly is a company that wants to be on every corner.
As a result, it is possible to deposit and withdraw money from a virtual casino using the Trustly instant payment gateway. This Swedish-based company specialises in express payments, whether it's for withdrawal requests or for crediting your casino account using a bank account. Trustly offers a highly secure payment gateway that is approved and monitored by the Swedish Financial Supervisory Authority. This revolutionary company has a European license in accordance with the Payment Services Directive "PSD, 2007/64/EC".
A first advantage of using Trustly is that the consumer does not have to register in advance to use the system. Trustly's administration states from their website that no sensitive information is stored on their web servers and that they are unable to access their customers' bank accounts.
To encompass this privacy policy, Trustly protects its system with the most sophisticated data encryption standard in addition to the protection technologies used by banks. Multiple layers of protection that make it extremely difficult for hackers to steal sensitive information.
• The second advantage of using Trustly in addition to being able to pay and withdraw money safely is its ease of use. A well thought out gateway that has a responsive design version offering perfect compatibility on mobile devices such as smartphones and tablets but also on MAC and Windows computers.
All consumers can use Trustly whether they have a device that fits in the palm of their hand or are present at their desk. To pay or deposit funds, just follow 3 simple steps.
The first step is to select your bank and connect to it naturally by entering your access codes. After this connection, which is perfectly encrypted and secured from end to end by Trustly technology, you just have to select the account from which the payment will be made. For example, their current account or their savings account. Once the account in question has been selected, Trustly's system will send the consumer to a confirmation page for their purchase and they will have to confirm their order or deposit or withdrawal from an online casino.
There are many different scenarios, but the procedure for using Trustly is similar.
The third advantage with Trustly is that deposits and withdrawals from a digital casino are instantaneous. Yes, and that's even for the procedure dedicated to winnings requests and we will now understand why. In the vast majority of cases, you have to be patient and wisely wait up to 5 working days to collect money when using the bank transfer withdrawal method. This is a time-consuming verification process to ensure that the online casino's bank account has the necessary funds to validate the customer's withdrawal request.
Trustly's risk management system identifies whether the necessary funds are available in the payer's online bank account. In our case the online casino. This allows for immediate authorization of the payment. Ultimately allowing the player to make an immediate withdrawal that is instantly visible in his personal bank account.
Trustly offers instant and secure online payment services for e-commerce businesses but is also expanding into the gambling market such as online casinos. By joining Trustly, operators can accept payments via local and international bank account transfers across all EU member states without any hassle. No additional processing fees apply to allow customers to pay for their order and/or deposit money into their online casino balance by logging into their preferred bank account.
By relying on Trustly's ever-advancing technology, merchants can be sure to offer a consistent user experience to their customers. The Trustly module allows customers to complete inbound and outbound transactions from mobile devices, tablets and PCs with an increased level of security based on the users' bank and account information.
Once the order has been confirmed and the payment approval displayed on Trustly's final checkout page, customers are then automatically redirected to the seller's or online casino's website, as appropriate.
Trustly's system offers a minimum of work to be implemented on their clients' websites. Trustly's administration provides plug-ins designed for e-commerce that require no additional coding. Code documentation for PHP, Java and Python is also available but the integration work is very simple to implement with code that just needs to be copied and pasted into the source codes of their clients' online merchants & casino operators.
A help page is available on the Trustly website and is divided into two parts. The first is dedicated to consumers and the second to merchants. In the customer area, customers have access to a comprehensive FAQ that covers many categories. For example, questions related to deposit and purchase transactions, fraud, terms and conditions, direct debits, etc.
For merchants, they have access to a member area where they have an account manager who was assigned to them on the first day of using Trustly's services. There is also technical support covering a Trustly integration guide, a detailed presentation of the services offered and frequently asked questions focusing on the integration of the Trustly payment gateway.
In terms of communication languages, it is possible to communicate in English, Spanish, Polish, Swedish, Norwegian and Finnish.
