Trustly

Overview

Founded in 2008 and headquartered in Stockholm, Trustly is a pioneer of open banking payments. Using account-to-account (A2A) technology, Trustly connects 3,000+ banks across 30+ countries so consumers can pay directly from their bank accounts at checkout - no credit card, no wallet registration, with instant confirmation. It is a representative solution in the European cardless "Pay by Bank" space.

Trustly covers major European markets and is widely used in iGaming, e-commerce, financial services and digital content. Its account-direct model inherently reduces card chargeback risk, with chargeback rates far below traditional card payments, and settlement funds go straight to the merchant's bank account. In 2023 Trustly joined the European payments group Nexi, further expanding its European reach. Compared with card-based platforms such as Stripe, Trustly positions itself on "cardless + instant settlement + low chargebacks". See cross-border payment comparison.

Key Strengths

• 3,000+ Bank Direct Connection: Covers 3,000+ banks across 30+ countries; consumers can pay directly from their bank accounts without registration.
• Instant Confirmation & Settlement: Transactions are confirmed in real time through banking networks with funds available immediately, typically 1-2 days faster than card settlement.
• Cardless Low-Chargeback Model: Account-to-account mode has no card chargeback risk, with chargeback rates near 0 and far below traditional card payments. See payment risk strategies.
• Broader Coverage Without Cards: Friendly to consumers without credit cards, covering 3 major scenarios - iGaming, financial services and digital content.
• Open Banking Compliance Leadership: As a pioneer of open banking payments, its compliance and bank network integration experience is mature across 30+ countries for European merchants.

Product Ecosystem

Pay by Bank (Online Bank Payments)

Trustly's core product is "Pay by Bank" online payments: consumers select their bank on the payment page, complete login authorization, and funds are debited directly from their bank account - no card details at any point.

Instant Withdrawals & Payouts

For iGaming and financial services merchants, Trustly offers Instant Withdrawal so players can cash out balances to bank accounts immediately, improving retention and experience.

Open Banking Data Services

Leveraging account connectivity, Trustly also provides open banking data services for account verification and balance checks, giving fintech merchants a data foundation.

Limitations

• Limited Market Coverage: Mainly covers Europe with limited bank connectivity in Asia and the Americas, unsuitable for non-European users.
• No Consumer Finance Features: No card installments or buy-now-pay-later capabilities, restricting some e-commerce scenarios. See installment payment solutions.
• Dependent on Bank Networks: Payment experience depends on each country's open banking interface quality, with varying integration and support across countries.

Use Cases

• European Online Collection (★★★★★): Cardless and instant settlement suit e-commerce and digital content targeting European consumers.
• iGaming & Financial Services (★★★★★): Instant withdrawals and low chargebacks are ideal for gaming, trading and financial services.
• Subscriptions & Recurring Billing (★★★★☆): Direct bank connection suits subscription businesses. See subscription billing best practices.
• Non-European Markets (★★☆☆☆): Coverage is limited; non-European businesses should choose Stripe and similar platforms.

Pricing

Note: Reference rates only; actual quotes prevail. For more comparisons see payment gateway rate comparison.

FAQ

• What is Trustly? Trustly is an open banking payment provider founded in 2008 and headquartered in Stockholm, Sweden, connecting 3,000+ banks across 30+ countries so consumers can pay online directly from their bank accounts.; see cross-border payment platform comparison.

• Does Trustly require a credit card? No. Trustly uses the "Pay by Bank" model: consumers select their bank and complete login authorization, and funds are debited directly from their bank account - no credit card at any point.; see cross-border payment comparison 2026.

• Is Trustly suitable for Chinese merchants? Businesses selling to European consumers can use Trustly, but it mainly covers the European market; e-commerce targeting China should use Alipay or WeChat Pay.

• How is Trustly different from card payments? Trustly is an account-direct bank transfer with instant settlement, no card chargeback risk and low chargebacks; card payments rely on card network rails and card data. See cross-border payment comparison.