There are all sorts of options for online payments now – eWallets like PaPal, Skrill and Neteller; there’s Klarna, ApplePay, Google Pay, more traditional methods like debit and credit cards – and Trustly. Trust may not be as well known as some of the other options right now, but it’s a big name in the online world, on the way up, and is already considered by many to be one of the best ways to pay online.
Here, we’re going to look at exactly what Trustly is – and why you might want to choose it as your preferred way to pay.
What is Trustly?
Trustly is a Swedish fintech company that basically offers instant, secure, and direct bank payments. It was first established in 2008 and, since then, has become one of the most trusted and widely used online payment services – not just in Europe but across the globe.
Unlike other payment options – like credit cards or e-wallets etc, you can make a payment straight from your bank account without needing to open a separate account, app, or card.
How Does Trustly Work?
It’s also super easy to use:
- Choose Trustly as Your Payment Method – When making your purchase or deposit, just choose Trustly from the list of available payment options (if possible).
- Pick Your Bank – Trustly will then give you a list of supported banks – just pick your bank from the list.
- Log In – You’ll then be taken over to your bank’s online banking site, where you’ll need to enter your credentials as normal.
- Authorise your Payment – Confirm the transaction as per your bank’s authentication method.
- Done! – That’s it! Your money will be sent straight away – transaction complete.
A Secure and Reliable Way to Pay
One of the biggest worries that people have when making online payments is the security of their money – and rightly so. Trustly is a great option in this sense, as it is fully licensed and regulated by the Swedish Financial Supervisory Authority (FSA), so you know that it meets the strictest financial regulations and industry standards.
Also, because it connects directly to your bank, you won’t need to share your card details online – which means it’s a lot more secure.
Finally, because Trustly uses bank-level encryption and 2FA, everything is as secure as it could possibly be!
Instant Payments – and Withdrawals
Unlike a traditional bank transfer, which can literally take days to process, all Trustly transactions are instant – which is important for practically all online industries. If you’re shopping online, you’ll get instant confirmation of your purchase. Then, there are Trustly online casinos, which are great because you can deposit money straight away – and withdraw your winnings much quicker than is the case with other payment methods. It’s also great for subscription services, as you get to pay for what you need without any delays.
Fast withdrawals are particularly great for online casino players and sports bettors, who would usually have to wait for days to get to their winnings!
There are No Hidden Fees
Unlike options such as credit cards and even PayPal, etc, which tend to come with processing fees or currency conversion charges – which can all stack up and prove to be pretty costly, Trustly transactions usually come free of charge. If there are transaction fees applicable, these tend to be covered by the merchant – which means it’s not just a secure and quick way to pay, but it’s also one of the most cost-effective options to go for.
But What Are the Downsides?
That being said, although Trustly comes with plenty of advantages, there are a few potential drawbacks you should :
- Not available in all countries yet – Although it’s pretty big in Europe, it’s not yet available in some regions like North America or Asia.
- There may be some limitations – Some of the merchants that accept it may have put certain limits on any withdrawal you make through Trustly, so make sure you check their terms before you decide whether to use it.
<strong>Step-by-Step Process to Get Credit Card Approval</strong>(Opens in a new browser tab)
Is Trustly Right for You?
There’s no doubt that Trustly is a great option for online payments – it’s fast, secure, and cheap to use. It’s now widely accepted across Europe in all different industries – from retail to gaming – so the opportunities are endless, and its popularity is continually growing. You just need to decide whether or not it’s the right choice for you!
