The Evolution of Trustly: Redefining Online Banking Payments

Online payments have grown significantly over the past few years, especially now that 82% of the population prefers this method. It has become faster and easier to use, but no two online banking payment systems are the same. Trustly is a major player, evolving into one of the most trusted payment methods. In this article, you will find out more about Trustly and how it became the go-to online payment option.

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What Is Trustly?

Trustly is an online payment service that allows you to transfer funds from one bank account to another. You can do this without sharing your personal details, and it connects to platforms of all kinds. Whether you need a bridge to PayPal, Alibaba, or Facebook, it lets you make payments anonymously. It is a particularly good option for those who wish to keep their identity private.

Brief History of Trustly and How It Evolved

Trustly was launched in Sweden in 2008, as an alternative to offering an easy payment method. People wanted an option to make a payment without requiring an account or a credit card number. All that was needed was the banking ID and the password to make the connection. The ease of use led to widespread, global popularity, as it took mere seconds to make a transaction.

Top Features of Trustly Payments

Over time, Trustly refined its features significantly with the user’s needs in mind. It became the most popular option banking option among millennials in Germany and beyond. Below are the main reasons why Trustly changed online banking.

1. Security

Trustly adheres to the highest encryption standards available in terms of banking security systems. Payments are done directly from your account to the merchant. This means that you will not have to share any sensitive information with third parties. Thus, unauthorized access and fraud are kept at a minimum.

2. Speedy Payments

Transactions usually take less than a couple of moments with Trustly. This offers a significant contrast with traditional banking methods, which can sometimes take days. Both deposits and withdrawals are quite speedy, improving the general user experience.

3. Coverage

Trustly has broad coverage that supports thousands of banks all over the world. This includes the following:

The list expands to numerous states all over Europe, the US, and Canada. This allows you to make a payment no matter where you are.

4. Transparency

Credit cards and e-wallets often charge extra fees for maintenance and more, depending on the provider. This does not apply to Trustly, as it charges only a small transaction fee. Everything is upfront, and there is no monthly fee for premium plans.

The fast payment possibility of Trustly makes it a preferred option for various industries. Over time, the method has become a favorite for websites connected to:

E-Commerce

With online shopping, you will have to make quick and safe payments to secure the objects that you desire. This is where Trustly shines, and why many e-commerce platforms added it as the preferred payment system. This speeds up the buying process, reducing delivery delays and potential frustrations from the customer.

IGaming and Online Gambling

Online gambling has you living in the moment, which means that transactions should be just as speedy. With Trustly, players could enjoy fast transactions and withdrawals, obtaining immediate access to their funds. Moreover, plenty of platforms nowadays verify your registration through the bank account, reducing waiting time. When you pay at a casino with Trustly, the process only takes a few minutes.

Travel and Hospitality

Nowadays, many travel agencies and booking platforms accept Trustly as a payment method. It is a convenient option for credit cards, as you no longer have to add those lengthy numbers to pay for your reservations. Chargebacks are also kept at a minimum, which is a common issue with traditional credit card payments.

The Bottom Line

Trustly has significantly changed the way online payments are handled, offering undeniable convenience. With its speed and security, it improved transactions across numerous industries, keeping delays at a minimum. As more and more merchants adopt it, the outlook for this payment method looks positive.