Platinum Sponsor
Trustly is a global payment method. We link the world’s top brands with millions of consumers who instantly transfer, pay, and get refunded in the most secure and convenient way.
We forged a path for Open Banking, leading from the front to create a world-class platform where we innovate beyond the sector we inspired. We handle the entire payment journey at an unmatched scale, transforming the performance and experience of payments for over 8,300 merchants in 33 markets, connecting them to 650+ million consumers through 12,000 banks.
Founded in 2008 and headquartered in Stockholm, Sweden, Trustly has been a key player in driving Open Banking as we know it today. We have worked with legislators to drive PSD2, PSR (PSD3), OBIE Open Banking regulation and we are the preferred partner to the National Automated Clearinghouse Association (NACHA) in the US.
We have built an unmatched proprietary scheme of corporate bank accounts to enable the instant movement of funds through smart routing. This unique asset enables Trustly to perform instant refunds, local collection, cross-border payments, risk management, redundancy, maximised coverage, stand-alone payouts and more.
In 2023, we introduced Trustly Azura, our groundbreaking data engine, with the ambition of finally unleashing the true potential of A2A payments powered by Open Banking. Through Trustly Azura we can instantly recognise users across merchants and devices to create the best possible payment experience globally; streamlined, safe and free of manual entry.
We offer a range of solutions supporting:
Payments
Increase adoption and conversion with advanced A2A.
Payouts
Ingenious, sector-defining payout efficiency.
Deposits
Perfected for conversion and superior performance.
Recurring Payments
Error-free mandate creation for Direct Debit.
Data
Harness the key ingredient for 100% payment success.
"Case Summary: Boozt and Trustly Partnership
Overview:
Boozt, a Nordic online fashion and lifestyle retailer, operates a multi-brand web store and an outlet. They have experienced rapid growth, serving over 3 million active customers and achieving substantial revenue.
Operational Challenges:
Boozt faced challenges with cross-border sales, particularly in Finland, where direct bank payments are favored. While they integrated various banks to offer local payment options, this setup complicated the refund process, leading to operational inefficiencies. Customers were reluctant to share their bank details, complicating refunds and increasing manual workload for customer service.
Solution by Trustly:
To address these challenges, Boozt partnered with Trustly, which streamlined the refund process and enhanced the user experience for payments. Trustly allowed Boozt to offer automatic refunds without needing to collect sensitive bank information from customers. The integration also unified Boozt's banking relationships through a single platform, significantly improving operational efficiency.
Key Results:
1. Legal Compliance: Maintained regulatory standards while enhancing service.
2. User Experience: Improved overall payment experience for customers.
3. Efficiency Gains: Streamlined operations across customer service, order management, and finance, saving approximately 40 hours of work per week.
Strategic Partnership:
The collaboration deepened over time as Boozt aimed to improve mobile conversion rates and optimize their checkout process. Recognizing a shift in consumer behavior towards mobile shopping, Boozt focused on creating a secure and user-friendly mobile checkout experience. This decision proved successful, with a significant percentage of purchases now completed on mobile devices.
Implementation of Booztpay:
Boozt introduced Booztpay to gain control over payment data and enhance the shopping experience. The partnership with Trustly facilitated innovative solutions and ongoing optimization of the payment mix across various markets, with a focus on balancing debit and credit options to meet consumer preferences.
Impact on Business:
The partnership transformed Boozt’s payment processing strategy. They achieved high mobile conversion rates and an effective payment mix, with Trustly becoming a leading option in several key markets. Boozt's proactive approach to integrating Open Banking through Trustly has positioned them advantageously in the competitive e-commerce landscape.
In conclusion, Boozt's partnership with Trustly not only resolved initial operational hurdles but also set the foundation for enhanced customer experience and organizational efficiency, illustrating the benefits of collaborative innovation in the retail sector."
