Digital bank Collector enlists Trustly for instant checkout payments

Online banking and ePayments solution provider Trustly has announced it has secured a new partnership with Swedish digital bank Collector.

Adding Trustly’s online bank payments into its checkout product provides Collector with the ability to offer its Nordic customers higher payment limits.

Collector can also begin to offer instant refunds, a feature that Trustly believe is “proven to increase customer loyalty.”

Mikael Anstrin, GM payments at Collector Bank, explained that Trustly was a “great match” for the bank thanks to its geographical and market knowledge.

He said: “[Trustly’s] cross-border payment solutions are available in all of our existing markets and its vast coverage also opens up the opportunity for us to expand into new geographies.

“Further, the setup with Trustly is very efficient, which makes for a good operating partnership. Overall, we’re thrilled to be able to offer Trustly’s solution to our merchants.”

In Finland nearly 1 in 3 shoppers opt to pay directly from their online bank; online banking payments are also one of the fastest-growing payment methods in EMEA.

Trustly said in the press release that online banking payments is set to overtake both credit and debit cards in popularity by 2022.

Johan Nord, CCO at Trustly, said: “We’re delighted to partner with Collector and offer our fast, simple and secure bank payment solution to their hundreds of merchants.

“The partnership is very much aligned with our strategy of delivering the best, most versatile and, for PSPs as well as merchants, most operationally easy-to-use bank payment solution in the markets where we operate.