Trustly is launching a new product for online merchants that enables them to offer customers a flexible payment option at checkout with deferred settlement periods up to 30 days, according to a press release on Wednesday (Feb. 16).
Merchants will have the ability to configure the deferred settlement periods to what customers prefer. Shoppers still have the option to pay full at the time of purchase, or they can choose FlexPay by Trustly and delay the payment without incurring any additional fees or hidden charges.
See also: Vroom Delivery, Trustly Team to Allow Open Banking Payments for Online Customers
There are no credit checks, and borrowers are automatically protected by Trustly’s bank-grade security that comes standard with its bank connectors.
“Increasingly, people are looking for more flexible ways to pay,” Pete Ohser, president at Trustly North America said, adding that the company is bringing a product to market that addresses that need.
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Trustly also offers merchants Open Banking Payments that has processing costs “below traditional deferred payment providers,” according to the release. Open Banking Payments offers customer loyalty tools, solutions to increase conversion rate and guaranteed payments to eliminate chargebacks.
Headquartered in Stockholm and founded in 2008, Trustly provides online banking payments services featuring an innovative digital account-to-account platform. The platform links prominent merchants with customers all over the world “directly from their online banking accounts.”
The company connects 8,100 merchants to 525 million consumers and 6,300 banks in over 30 countries. In 2020, Trustly processed more than $21 billion in transaction volume.
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