Trustly provides its services through TransferWise and PayPal, which means it’s got a pretty large distribution network. After signing several contracts with the first internet retailers in Sweden in 2008, this payment method soon enjoyed wide success and started expanding its offices to Malta only 2 years later.
At that time, their revenue grew by a whopping 200% and the company completed its first million transactions that same year. The next year, Trustly sold 25% of its shares to investment group Alfvén & Didrikson while continuing its amazing growth.
In 2014, Trustly signed a deal with Groupon and PayPal and introduced the Payout Express feature. That same year, the company reached 10 million transactions and became one of the fastest growing companies in Europe. In 2018, Nordic Capital bought more than 70% of their shares and gained control over the fintech company for a sum of around $700 million.
How Can You Deposit Via Trustly?
Right now, you’re probably wondering why use an online payment method instead of choosing a debit or credit card? Well, the thing about online payment methods such as Trustly is that they eliminate the need for middlemen who often take a sizeable fee for the simple task of moving money.
It allows fast and secure mobile payments with no hidden fees, which is why it should be your preferred option. Oh, and did we mention how easy it is to use?
Depositing money couldn’t be simpler. Instead of spending hours in the bank waiting to deposit money into your account, everything’s as easy as 1, 2, 3 with Trustly. You don’t even have to register – just pick your casino site, choose Trustly as a deposit method on the payment options page, find your bank and you’ll be redirected to their website to complete the payment.
How Can You withdraw Via Trustly?
Withdrawing your money isn’t much different than depositing. Before you take your winnings from an online casino, you should read its T&Cs to see if the casino allows Trustly withdrawals.
If it does, you’ll need to visit the Cashier or Withdrawal section and specify the amount you’re withdrawing. After confirming the action all that remains is to wait for the money to appear in your account – this can take anywhere from several hours to a full day.
Transaction Time and Safety
The transaction times for any online payment method including Trustly depends on the merchant or casino you’re using. In general, most online payment methods need between 2-24 hours, although Trustly states that transactions may take anywhere from a few minutes up to 2 days.
That’s still faster than withdrawing your money via bank transfer, though, which is one of the best things about it. Just read the casino’s Terms and Conditions to learn when you should expect your money to arrive.
When it comes to safety, it’s licensed and supervised by the Swedish Financial Supervisory Authority, which, together with the highest encryption standard the fintech company uses, means safe and secure transactions.
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Trustly has 280 employees, devided over several offices in several countries. Headoffice is in Stockholm, Sweden. Other offices are in Finland, Malta, Spain, UK and Germany. It’s under the supervision of the Swedish Financial Supervisory Authority. The company offers cross-border payments at over 3,000 banks and connects businesses and consumers.
Trustly is one of the companies that has revolutionized online sales and further diminished the need for cash. With the fintech giant continuing to perform above expectations and offering features that are simply not possible with cash, it won’t be long before we reach a point when cash is completely erased as a payment method.