Global markets and digital payments continue to evolve in a bid to minimise their weaknesses. Despite the inevitability and numerous benefits of online transactions, significant risks still exist. Hence, both merchants and consumers are always looking for payment methods that eliminate or minimise such risks.

Trustly is currently one of the best payment methods used for online ventures globally. Aimed at catering to European online retailers, Trustly was launched in 2008 and has grown massively since. After about a decade of existence, it was facilitating about €3.5 billion yearly, according to Reuters. Today, it is popular in many countries, including the UK, where it is used by many for diverse purposes. Casinos and sportsbooks are among the most popular users of Trustly, because of its numerous advantages over others.

Industries Targeted by Trustly

Gaming: casinos are among the biggest users of Trustly, as it does not just help them receive payments and process withdrawals, but also has diverse bonuses for new players. Deposit and withdrawal fees are also not charged. Most online casino players in the UK use Trustly online casinos.

Ecommerce: instead of credit cards, retailers use Trustly to automate purchases and refunds. It facilitates payments very fast, eliminating the delay that comes with other options. Hence, the experience of customers is significantly improved.

Travel: travel companies leverage the services offered by Trustly to personalise the experience of their customers. Wherever customers travel, they can make payments through their local bank accounts.

Banking services: the speed and safety associated with Trustly also make it trusted by online banks. They are partners with some of the biggest online banks in the world, such as PayPal, flywire, Mintos, etc.

Why is Trustly Trusted by Many Users?

There are diverse reasons the industries above, and more, choose Trustly as one of their top payment methods. They include:

Reputation

In business, reputation is perhaps the most important ingredient. This is even more so for financial services. Trustly has a great reputation among users, most of whom consistently laud the security and speed of transactions on the platform.

Reviews from financial experts or financial media houses are a great way to gauge the reputation of a payment provider, but nothing beats the review of other users. People who have used the platform give their ‘raw’ feedback based on their personal experience. Trustly has an overwhelming number of positive reviews for its quick and safe processes, but it is also not without negative reviews. Some customers have expressed their frustration about the delays or cancelation of transactions they experienced. Negative reviews concerning delays are very few, while most payment cancellations are due to security concerns.

Safe and Secure

For the best gaming sites, eCommerce stores, and banks to work with a payment platform, they must have highly advanced security measures that protect them and their users. In 2010, millions of Euros was spent by Trustly to re-engineer its system with the aim of developing a platform that becomes impenetrable to hackers. They continue to put in effort and spend intensively to ensure they remain impenetrable. The result of such intensive and continuous investment is that no one has ever succeeded in compromising their network. This level of security makes Trustly unarguably one of the best payment providers.

Trustly also has transparent data privacy policies, an important factor for users. It is SSL compliant, ensuring customer data is protected. All customer information is encrypted, guaranteeing no unauthorised access.

Excellent Customer Support

As a payment provider to both customers and retailers, Trustly understands the importance of having a robust customer support system. Hence, they provide customer support in several ways, such as email, call, live chat, and even through social media platforms. For general issues, they have FAQs on their website. This is often enough to solve issues or answer queries, as it covers diverse issues raised by other customers such as deposits, withdrawals, etc. However, if you need further help, direct chats with their agents can be done through the options listed earlier.

For more effective delivery, different teams handle complaints from partners and customers. Issues that are not feedback or complaints faced by customers are also handled by a different team.

How to Start Accepting or Using Trustly

Having learned about the advantages of Trustly, it is easy to integrate it into your online business. Simply create an account on the Trustly platform and select the integration method appropriate for your technical capabilities. This could be Trustly’s hosted solution or API integration. Make you comply with the regulatory requirements of the platform. Then test it to ensure your customers have a seamless experience.

As a customer, to pay from your bank using Trustly, simply choose your bank and confirm your account and amount before going ahead to pay.

How long does a Trustly transfer or refund take?

Payments made through Trustly typically go through in less than 24 hours. However, some banks don’t release funds straight away, leading to delays. To solve this, contact the authorization department of your bank. In cases of payment cancellation, a refund to your bank account usually takes 4-6 business days. Again, this depends on your bank.

Are there any extra fees for paying by Trustly?

When a transaction is created, the amount to pay is clearly outlined. There are usually no extra or hidden fees. However, your bank may charge a fee to make a Trustly payment. Hence, any extra fees or charges are from your bank, not WorldRemit.

Can I pay using the Trustly account of another person?

Authorized payment instructions are required to know the identity of their customers, as well as the source of funds. Hence, customers are required to use their bank accounts. This is also a part of the security architecture of the platform.

In which countries is Trustly available?

Trustly is available to customers in the UK, Germany, Netherlands, Denmark, Austria, Spain, Sweden, Finland, Lithuania, Norway, Latvia, etc. Anyone with an account in these countries can make payments through Trustly. The country and language can be changed easily on the platform.