STOCKHOLM | Trustly and PayPal team up in Scandinavia to offer PayPal users the opportunity to fund their accounts directly from their online bank. The new partnerships initially covers Sweden and Denmark.
Serving over 50 million customers
Trustly is an online banking e- payments solution born in Sweden, that empowers both B2C and C2C payments, both conducted on desktops and mobile devices. Trustly currently supports online bank payments from all major banks in Sweden, Finland, Denmark, Spain, Estonia, Poland and Italy and plans on expanding to 14 countries by 2015. Currently Trustly covers 43 banks, serving over 50 million customers.
Upload PayPal balance via Trustly
The partnership means that Swedish and Danish PayPal users can now smoothly and securely transfer funds directly from their online bank to their PayPal balance via Trustly. The balance can then be used for purchases at merchants that accept PayPal payments as well as free monetary transfers to friends and family around the world. Transferring money from the online bank to a PayPal balance is free for the user and can be made directly at paypal.se.
Previously, it has been possible for users to transfer money to their PayPal balance by traditional bank transfer, a process that took two to three days. With the new Trustly integration, the transfer is done immediately. The users no longer have to log on to their online bank accounts and manually set up a bank transfer payment. Now the integrated solution is available directly on the interface of PayPal.se, and the balance is updated and can be used immediately.
Mobile e-commerce through user-friendly solutions
PayPal is a valuable partner in Trustly’s efforts to grow in e-commerce. We share the ambition to offer a fast, safe and easy payment solution to e-retailers and consumers alike, says Stefan Backlund, Head of Marketing & Communication at Trustly. Additionally, both Trustly and PayPal support the growing use of mobile e-commerce through user-friendly solutions that work just as well from a computer, cell phone or tablet, whether on the road or at home.
About Trustly Group
Trustly Group develops secure, simple and cost efficient online banking e-payments solutions on the internet and mobile devices. Trustly’s solutions attract global customers in three segments: online marketplaces, e-commerce and online gaming. In 2013, Trustly was ranked as one of Sweden's ten fastest growing technology companies on the Deloitte Sweden Technology Fast 50 list. Trustly has approximately 60 employees and is headquartered in Stockholm, Sweden. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. Here you can see Trustly's profile within our Knowledge-Base section.