Trustly

Contact information

Trustly Group AB
Norrtullsgatan 6
113 29 Stockholm
Sweden

sales@trustly.com

What is Trustly?

Trustly is a European fintech company that makes online bank payments fast, simple and secure for consumers and merchants alike. The company offers cross-border payments to and from consumer bank accounts at over 12,000 banks across Europe. Trustly is an authorized Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen) and is licensed to provide cross-border payment services with the EU/EEA.

See more at https://trustly.com/en/ecommerce/

Trustly are available in the following markets

Sweden, Denmark, Finland, Norway, Estonia, Latvia, Lithuania, Germany, Netherlands, Austria, United Kingdom, Czech Republic and Spain.

Minimum sales requirement to get onboard with Trustly

Trustly are currently not accepting merchants that has less than €5 million in yearly e-commerce revenue, so if you have online sales throughout all your different payment methods worth less than €5 million a year, then Trustly will most likely decline your application.

Pricing

Setup fee

Setting up an agreement with Trustly is free, there is also no monthly fee.

Transaction fees

All prices are set and settled directly with Trustly

The standard fee with Trustly is 1,5% (min 0.8 EUR). If your company has a large volume, then the fee can be negotiated with Trustly.

Currencies

Trustly supports all European currencies, and can make payouts in all European currencies (this is something you set up with Trustly in the onboarding process).

Setting up Trustly in Quickpay

To set up Trustly in the Quickpay manager, navigate to Settings > Acquirers > Trustly and fill in Username and API password. Remember to enable Trustly.

Optimization of the Payment Flow

You can increase the conversion rate by sending the customer’s name along with the payment (e.g. via the parameter invoice_address[name]), so that the customer doesn’t need to type their name twice. After selecting Trustly in the payment window, the customer will then directly be sent to the page where their bank is selected.

iDEAL

In order to accept iDEAL through Trustly you must first setup an agreement with Trustly, and then get a sub agreement in order to use iDEAL. Once these agreements are in place, iDEAL can be activated in the manager by clicking the Enable iDEAL button.

Respons time

Some payment through Trustly requires extra handling time at the bank. Therfor you cannot expect an instant repsonse. Until the bank has confirmed the transfer, the payment will remain in pending state. In very rare cases response time can be up too 10 days. If no response is given within the 10 days, the payment will fail.

Recurring payments

Quickpay does not yet provide recurring payments through Trustly.

CBD & cannabis

Trustly does not allow CBD or cannabis related products