October 11, 2016
Shopping on the internet is common place for most users, but online payments still scare a lot of people, particularly payments made with credit cards. Whether its because of simple ignorance on the matter or an unwillingness to pay for all the fees often associated with them, some people do not shop online simply to avoid having to deal with these payment methods.
Immediate Access at your Fingertips
There’s still another aspect that sends people away from credit cards: all the related security problems that arise from time to time. Nevertheless, this can be avoided, as Trustly, a Swedish fintech company, provides a way to pay online. It allows you to go directly from your secure bank account to merchants, consumers and other banks in the click of a button.
Cards, e-wallets, invoice and even bitcoin are all payment methods that depend on the bank account. By cutting out middlemen, like credit cards from the shopping process, you get immediate access to your funds, all while having a comprehensive layout of your finances.
In addition to all that simplicity and security, you don’t have to sign up for any new accounts or remember other login information. You only use the authentication method that’s applied through you digital bank. More often than not, credit and debit cards are linked to our bank accounts, so why not use our accounts directly?
A Super Simple Process
That is exactly what can be done with Trustly, where payments are made in 3 easy steps:
- Select which bank to use and log in over a secure connection;
- Choose the account from which we want the payment to be made from (if there is more than one);
- Verify the purchase.
And that is all there is to it. Using Trustly could hardly be simpler, as it requires no registration whatsoever and it does not store any sensitive information that could be utilized to access one’s bank account.
The Importance of Security
Security is a major concern, as Trustly is a licensed payment institution authorized and supervised by the Swedish Financial Supervisory Authority, and holds a European Payment Services Provider (PSP) license in accordance with the Payment Services Directive (PSD, 2007/64/EC).
For the moment, Trustly operates in 29 countries, all of them in Europe. It comes from the booming Stockholm innovation panorama, placing Sweden as the number one country in the EU in terms of innovation and responsible for the appearance of many fintech companies in the country.
Even though its outreach is still limited to Europe, services such as the one offered by Trustly give us a glimpse of what the future beholds on the subject of fintech innovations. As it seems, simplicity and safety will be keys, eliminating as much steps from the entire process as possible.
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