Trustly provides a Pay‑by‑Bank platform that enables merchants to initiate instant, account‑to‑account payments and payouts across a network of over 12,000 banks in more than 30 countries via a single Open Banking API. The service reduces transaction fees and improves approval rates compared with card schemes while delivering real‑time consumer insights and built‑in risk‑management tools for fraud detection and compliance.
Funding
Funding not disclosed
Founders
Product
Problem
Card‑based payments incur high processing fees, experience lower approval rates, and provide limited real‑time consumer data, which hampers conversion and risk assessment for merchants. Additionally, many businesses lack a unified, low‑latency solution for instant account‑to‑account transfers across multiple banks and regions.
Solution
Trustly operates the world’s largest Pay‑by‑Bank network, connecting merchants to over 12,000 banks in more than 30 countries via a proprietary Open Banking stack. The platform enables instant, account‑to‑account payments and payouts with guaranteed settlement, lower transaction costs, and higher approval rates than traditional card schemes. Integrated consumer data and risk‑management tools expose spending patterns and affordability signals, allowing businesses to personalize offers and reduce fraud. A single, developer‑first API provides end‑to‑end integration, 24/7 support, and compliance with global security standards, delivering a scalable, cross‑border payment solution for a variety of industries.
Target Audience
Merchants and platforms in financial services, gaming, retail, subscription & bill‑pay, and other B2C sectors seeking higher conversion, lower payment costs, and richer consumer data.
Features
- Direct account‑to‑account payment initiation and payout processing through a unified Open Banking API.
- Access to a global network of 12,000+ banks, supporting high‑volume transactions with sub‑second latency.
- Real‑time consumer insights (spending behavior, balance verification) via Trustly Insights for personalized marketing and risk scoring.
- Built‑in authentication using bank‑issued credentials and two‑factor verification, eliminating card data exposure.
- Comprehensive risk‑management suite, including fraud detection, transaction monitoring, and compliance reporting.
- Modular data services (Trustly Connect, Trustly ID) for seamless onboarding and identity verification.
- Developer‑focused SDKs, detailed integration guides, and sandbox environment for rapid deployment.
- 24/7/365 technical support and SLA‑backed service availability.