What is "trustly"

Trustly Group is a Swedish fintech company founded in 2008. The company provide a solution for Online Banking ePayments (OBeP) offering solutions for the e-commerce industry through its direct payments technology. Trustly provides its service through the Swedish classified advertising site Blocket, PayPal and TransferWise.

To make a purchase, the customer is required to pass his banking credentials to Trustly, who performs the transaction on his or her behalf. Trustly accepts most credit and fraud risks, and the online store or consumer is guaranteed payment.

In 2014, the company's payment solutions were offered by more than 800 online stores in Europe and payments of more than SEK 7 billion annually were processed. In 2016, Trustly reached more than 67 million consumers through integration with 43 banks in twenty-one countries including: Sweden, Norway, Finland, Denmark, Estonia, Poland, Italy, Spain and Malta. Trustly generated revenue in 2014 totalling SEK 103 million and has 85 employees, most of whom work at the head office in Stockholm, with local offices also in Spain and Malta.