Trustly is a web-based innovative payment method that is based on online banking. The payment system is currently supported in a total of eight European countries and by more than fifty banks. It is considered to be available to 67 million customers.
Overview
Trustly, which is formerly known under the name Instant Bank and GluePay, is a modern payment method, which allows customers to make payment directly from their online bank. The system can be used not only for paying for goods and services, but also for making deposits on casino and gambling websites.
The service provided is bank-independent and the payment solutions offered on its website are not resold to banks or other providers.
The payment system is based in Sweden and currently empowers both B2C and C2C payments. Up do date, online bank transfers and payments from the main banks on the territory of eight countries – Sweden, Norway, Denmark, Finland, Estonia, Poland, Italy and Spain. Trustly is looking to further expansion in other European countries in order to consolidate its positions as one of the best and most-preferred payment methods.
The technology company that holds control of the payment method is focused on development and contribution of online payment solutions for personal and business users who are willing to use web-based methods when it comes to carrying out money transactions.
One of the main priorities that the company, and the payment system respectively, has set is providing convenient, safe and simple-to-use online banking e-payments for all parties in the process, no matter if it comes to customers, merchants or banks.
Trustly is also focused on providing its customers with a payment solution that can be a great alternative to both paying with cash and credit/debit card payments, invoices or electronic methods. As the company says on its website, its desire is to provide online payments that are secure, problem-free and cost-efficient in order to meet the specific needs and requirements of all its customers.
How Does It Work
One of the reasons why Trustly has turned into a preferred payment method in some of the largest countries in Europe is the fact that the system is quite simple. The interface provided is easy to work with, which is exactly why so many customers have been attracted by the options offered by the Swedish payment method.
Working with Trustly is extremely easy. When checking out at a website, customers need to select Trustly as a payment option. Then, the username and and password of the user’s online banking must be entered and the payment must be confirmed by the client.
Merchants, who are willing to accept payments carried out through Trustly on their websites, can manage to use their opportunity to attract online shoppers who do not own a credit/debit card, or simply are not willing to share their card details over the Internet. Such merchants can easily add Trustly to the payment methods offered on their websites via a simple application programming interface (API). Online merchants are also provided with the opportunity to implement Trustly in their websites via Payment Service Providers.
While processing a money transaction or any kind of payment, the customer can rest assured that all transactions are authorized via their trusted bank, which basically means that the risk of frauds or chargebacks is reduced to zero.
A great feature offered by Trustly is the fact that customers do not need to integrate every bank separately or sign an individual agreement with every one of them. Only one agreement, and respectively, integration is enough in order to provide the payment method’s customers with the opportunity to access all banks supported by the system.
Deposits in Online Casinos
Trustly is not only used for making money transactions, it is also a widely-spread payment method when it comes to depositing money in online casinos. When it comes to depositing funds in casinos and gambling websites, the payment system has become very attractive to users primarily because of the fact it is easy to operate with.
Paying through Trustly in a casino website is fast and easy. After choosing the payment method’s icon on the casino’s payment page, a fill-in form is to appear. Then, the customer is required to choose a bank and fill in the amount of money they are willing to deposit. The next step is related to providing their personal online banking credentials, which include username and password.
The user is required to check and confirm their payment details. By doing so, the money deposit is to instantly appear on the customer’s casino account. Still, the users need to keep in mind that the processing time for making a deposit might be different and depend on the casinos.
Deposit limits and fees can also vary, because they depend not only on casinos, but also on the policies of the banks used to make a certain transaction.
Withdrawals from Online Casinos
When making a withdrawal from their casino accounts, customers are required to follow basically the same steps as when making a deposit. They must choose Trustly on the withdrawal page of the casino website. Then the amount of money the user wishes to withdraw must be indicated, followed by choosing a bank, and filling in the withdrawal form.
After a confirmation made from the customer, the latter will instantly get the amount on their bank account. Just like the case with deposits, the processing time, fees and limits of withdrawals may vary between casino websites.
Advantages
Trustly has turned into a favorite online casino deposit method, because it it quick and secure. The system is proven to be risk free, because it actually uses the customer’s bank for carrying out the transaction. Because of this, no personal and financial information is disclosed at any point of the process.
The money transfers, payments and deposits are literally instant, anonymous and risk free for users, who have chosen Trustly. In addition, no sensitive personal or bank account information is ever revealed to third parties, because customers are not required to register at another website and use their own bank accounts.
The payment method’s website is available on both personal computer and mobile devices.
Disadvantages
Probably the largest disadvantage of Trustly is the fact that it is still offered at a relatively small number of European countries. This basically means that foreign players, who are not residents of the supported countries are not allowed to use it.
In addition, online transfer fees that are usually charged by the banks used in the process of making a deposit or withdrawal, is also considered as a setback by most customers.
Security
As mentioned above, the payment system provided by Trustly is absolutely risk-free, because no information is even disclosed or used by third parties. On the opposite, customers, are provided with the opportunity to use their trusted bank, which is actually the one that carries out the transaction.
Customers can rest assured that no sensitive personal or bank account data is to leak from the system’s website, as they are not required to register any accounts and simply use their online banking username and password to deposit or withdraw money.
Conclusion
Over the past few years, Trustly has turned into one of the most preferred payment methods used by customers who are residents in any of the countries supported. The fact that the system is quick, secure and easy to use has become the main reason why the method has been found attractive by more than 67 million consumers up to date.
FAQs
What is Trustly?
Once known as Instant Bank and then Glue Pay, Trustly is a popular online money transaction system that can be used for various purchases and payments.
Are there any limitations?
Based in Sweden, it is also available in several other countries, including Finland, Denmark, Norway, Poland, Estonia, Spain and Italy.
How does it work?
Well, all money transactions are authorized by your trusted bank, and all you need to supply is your username and password.
Are there any fees involved?
Yes there are, but these only depend on the bank you’re using.
What about different platforms?
Trustly can be used on both mobile and desktop devices.