Credit: Lidiia, Shutterstock

Trustly has found its latest client in Futon Company, a furniture manufacturer. The firm will leverage Trusty’s Open Banking solutions, specifically its pay by bank option.

Using Trustly’s account-to-account pay by bank solution will enable Futon’s consumers to make direct payments to the company via their own personal bank accounts. 

Customers select the option at checkout, after which they are directed to their mobile banking app or an online banking portal. All payment details necessary are then automatically filled in, such as bank information and payment amount.

Vladimir Pomitun, Ecommerce Director at Futon Company, commented: “Futon Company is thrilled to partner with Trustly to provide our customers with an exceptional payment experience. 

“We are excited to lead in this evolving technological field, showcasing the significant cost savings and efficiency improvements it offers both us and our customers.”

By partnering with Trustly, Futon Company aims to decrease its dependence on conventional card payments and lower operational costs by eliminating intermediaries.

The agreement follows a series of partnerships clinched by Trustly this year. The past few months have seen the fintech link with Socure, MoneyGram and Light and Wonder.

This comes at a time of heightened interest in Open Banking, which has fast become one of the biggest talking points in payments innovation. Trustly has noted a surge in interest for its Open Banking services in tandem with the growth of the sector, observing a 79% increase in transaction volume between Q4 2022 and Q4 2023.

Jussi Lindberg, Chief Revenue Officer at Trustly, commented: “Open Banking payments are rapidly becoming the preferred payment method, and we’re excited to enhance the checkout experience for Futon Company’s customers. 

“This solution allows Futon Company to tailor its checkout process, improving conversion rates and delivering top-quality service. We’re committed to expanding open banking solutions across the UK and helping as many companies and customers as possible benefit from its advantages.”