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 to provide merchants with "Pay by Bank" cardless acquiring: consumers select their bank on the payment page and complete login authorization, funds are debited directly from their bank account into the merchant account, with instant confirmation and no credit card at any point.

Trustly's merchant acquiring model sends funds straight to the merchant's bank account with chargeback rates far below traditional card payments, suiting iGaming, e-commerce, financial services and digital content. In 2023 Trustly joined the European payments group Nexi, further expanding European bank network coverage. Compared with card-based gateways such as Stripe, Trustly serves European merchants with a differentiated "cardless, instant, low-chargeback" positioning. See cross-border payment platform 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 entering merchant accounts immediately (1-2 days faster than card settlement) for better cash flow.
• Low Chargebacks: Account-to-account mode has no card chargeback risk, with chargeback rates near 0, far below traditional card payments. See payment risk strategies.
• Broader Cardless Coverage: Friendly to consumers without credit cards, covering 3 major scenarios - iGaming, financial services and digital content.
• Mature Open Banking Compliance: As a pioneer of open banking payments, its compliance and bank integration experience is mature across 30+ countries for European merchants.

Product Ecosystem

Merchant Acquiring API

Trustly provides merchants with a cardless acquiring API: consumers choose their bank and authorize, funds are debited directly from the bank account with instant confirmation, integrating with e-commerce, gaming and financial services.

Instant Withdrawals

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.
• Opaque Merchant Rates: Merchant rates require commercial negotiation with limited public pricing, so cost evaluation needs a sales call.

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 to provide merchants with cardless payment acquiring.; 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 to the merchant - 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.

• What is Trustly's chargeback rate? The account-to-account model has no card chargeback risk, with chargeback rates far below traditional card payments, and funds reach merchant accounts instantly. See cross-border payment comparison.