Open Banking payment platform Trustly has partnered with Kivra to develop a new automatic payment system designed to streamline transactions.
The co-launched Autogiro enables users to register direct debit with BankID confirmation, lowering the barriers for the sign-up process to deliver payments on time and reduce administrative workloads to enhance the customer experience.
Johan Tjärnberg, Group CEO at Trustly, said: “Trustly is driving the development of Open Banking on a global scale, and Sweden – with its world-class fintech sector – is the perfect market to test new innovations. Together with Kivra, we look forward to setting a new standard for the future of payments.”
Kivra is a Swedish digital mailbox company with over six million users. It has partnered with Trustly to deliver Pay by Bank solutions with the aim of making automated payments more seamless.
The new solution seeks to provide a faster, more seamless experience for users. With bank account details pre-filled, Autogiro can be activated with a BankID confirmation, minimising errors and ensures a higher success rate for users signing up. Payments are processed automatically, while users maintain control with notifications and spending limits.
Henrik Lönnevi, CEO at Kivra, added: “At Kivra, we see this partnership with Trustly as an opportunity to reshape how Swedish businesses and consumers experience payments.
“With our enhanced Autogiro service, we can offer our business customers a smarter, smoother, and more efficient way to manage payments.”
The new service is launching in conjunction with Stockholm Fintech Week, Sweden’s largest fintech conference. The first company to offer the solution was energy provider GodEl, which has already enabled its customers to make seamless payments via Kivra.
