Trustly and Collector Bank team for instant payments to Nordic merchants
Trustly teams up with Collector Bank
A new collaboration between online banking e-payments innovator Trustly and digital bank Collector will bring instant bank payments to the checkouts of Nordic merchants of all sizes, writes David Penn at Finovate.
The partnership seeks to take advantage of the popularity of online bank payments in the region; nearly one in three shoppers in Finland, for example, expressed preference for paying directly from their online bank, according to a recent report.
Trustly’s cross-border pedigree was an important factor for Collector Bank. Calling the company a “great match” on this score, the bank’s GM for payments, Mikael Anstrin, says: “Trustly’s cross-border payment solutions are available in our all of our existing markets and its vast coverage also opens up the opportunity for us to expand into new geographies”.
Trustly enables users the ability to shop and pay directly from their bank accounts. Individuals can pay with Trustly by simply choosing and logging into their bank, selecting the account from which they want to pay, and then confirming the payment with the authentication option of their choice. The company processes transactions to and from consumer bank accounts at more than 3,000 banks in 29 European markets.
Recently, the company teamed up with Eurobits Technologies to help form the European Third Party Suppliers Association (ETPPA), and announced that it had reached the 300 employee mark.
Founded in 2008, Trustly was acquired by Nordic Capital last spring. The company is based in Stockholm, Sweden.
