Trustly and Sergel Partner to Streamline Recurring Payment Plans

Trustly has joined forces with Sergel to provide users with a simple and reliable way to manage regular payments and installment plans.

Trustly’s payment solution now allows the users of Sergel’s credit management service to establish recurring payment plans tailored to their individual needs, the companies said in a Thursday (Aug. 24) press release.

By integrating Trustly pay-ins into Sergel’s platform, consumers can opt for direct debit and pay in installments rather than a lump sum, according to the release. The digital onboarding process reduces the need for manual input and minimizes the risk of mandate failures.

The partnership between Trustly and Sergel not only enhances the user experience but also empowers users to better manage their debt, the release said. By opting for installment payments and ensuring timely payments, users can avoid reminder fees and reduce associated costs.

Via the collaboration, Sergel’s users can take control of their payments and explore more sustainable financial solutions, per the release.

“Sergel always strives to find the best solutions for our customers and with Trustly’s solution we can offer easy, fast and cost-effective installments,” Sergel Project Manager Anna Daag said in the release.

Open banking aims to empower consumers and foster competition in the payments and data space, bringing back concepts of privacy and control, Matt Janiga, director of regulatory and public affairs at Trustly, told PYMNTS in an interview posted Aug. 10.

If companies are sharing your data — whether it’s with another company or even the government — you should have some right to know about it and also to know what information the company has about you, he said.

“The consumer should be in control of their data,” Janiga explained at the time, adding that “U.S. consumers with a U.S. bank account, a U.S. checking account, a U.S. credit card will be able to go to a bank” and direct their data or direct that the data be shared (as Trustly interacts with merchants to initiate payments between the consumer and merchant), with third parties to gain access and offer permission to be on the receiving end of new financial products and services.