Trustly - Best Payment Method
The talk of the town is online payments and hopes of cash-less markets and transactions. Trustly, is the tool that is working to make this happen, with a fast, simple and secure platform. The services it offers can be used by different entities, be it personal consumers, sellers, retailers and banks too. Trustly was founded in 2008 in Stockholm, and have now branched their operating offices to Malta. By 2017, Trustly exceeded the €10 billion mark in total processed volume.
It is important to underline that Trustly as a group, is an authorised and licensed payment institution by the regulatory authorities, and operate in accordance with relevant acts and legalities. The consumer platform is pretty simple: log in, choose your account (savings or current) and verify your purchase. This can be used both for online shopping and gaming too. The array of services Trustly provides to merchants are more complex and diverse with a network of banks across 29 European countries at no additional costs, apart from the sole agreement.
How it Works?
Deposits and withdrawals are accessible through a fully mobile optimised platform. Sufficient funds in a bank account in one of the countries, which Trustly covers, is practically all that you need. Depositing using Trustly does not require users to sign up or provide personal details on the Trustly website. All users need to do is to navigate to where deposit is to be done on the merchant website, then they need to choose Trustly as the payment method.
Using Trustly, users will be able to provide their bank details and see if their bank is supported on Trustly. Withdrawals are also very straightforward - simply choose Trustly as the payment method. With this accomplished, Trustly handles the transfer of your money directly to your local bank. Also, it is important to note that the money received in your bank account might vary due to fees from your local bank, or there is fluctuation in the exchange rate so pay attention to this at all times.
Benefits with this Method
- A payment system and solution very well integrated within the online casino and gambling platforms
- Convenient and can be used for day to day online shopping
- Low risk of fraud or hacking
Disadvantages with this Method
- Not available worldwide
- May limit your customer base as a retailer especially if it includes computer and technologically illiterate persons
- User's bank details stand the risk of getting stolen
Review and Summary
Trustly is an easy to use payment method that does not require users to sign up on the platform. All that is required of a user is to find his or her bank and then provide their bank details. Trustly's easy to use platform provides an automatic system for users to deposit and withdraw from different merchant websites. Though Trustly can only be used by countries in the Eurozone region such as France, The United Kingdom, Denmark, and so on.
Trustly is also supported by some casinos such as Betway casino, Monster casino, Eurogrand casino, Casino Swiss, Winner Casino and so on. Trustly ensures that the users' transactions are done automatically. When a user requests withdrawal from a merchant that implements Trustly as a payment method, Trustly makes sure the money gets to the user's local bank account automatically. Trustly completely adapts to several mobile devices, enabling you to make deposits or withdrawals using the internet through your local banking account details.