How they describe themselves: At Trustly, we envision a world in which paying directly from your online bank account is as easy as sliding cash across the counter. Today, we cover 29 European countries and our B2B payment solutions attract global merchants in four main segments: e-commerce, travel, financial services and online gaming. In 2015, we processed €1.7B in transactions and in October 2016, we reached an annualized run-rate of processed transaction volume exceeding €3.5B.
How they describe their product/innovation: In a modern digital world where instant gratification is a hygiene factor, speed is the only thing that matters. In payments, speed comes both from the simplicity of the user experience and the speed of the actual financial transaction. Trust in security is another important factor for any payment method. Trustly has recently launched a product called Direct Debit that offers the speed, convenience and security that consumers and merchants crave. With this product, Trustly enables recurring charges on a bank account and one-click payments from a bank account, with the highest encryption standard available.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms