Back to Blog

Trustly Extends Direktbetalning Product to Online Housing and Apartment Rentals

TrustlyHiLogo.jpg

Sweden-based Trustly recently unveiled its online payment solution for house and apartment rental classified ads listed on Blocket, Sweden’s version of eBay.

This capability is being added to Trustly’s original offering, Direktbetalning, which was limited to purchasing and selling goods on the Blocket platform. You may recall Trustly’s FinovateEurope 2013 demo, where COO Carl-Henrik Somp was selling his right shoe.

TrustlyRightShoe.jpg

The new offering helps solve the pain point faced by home renters who are pressured into paying rent for a new home or apartment one month in advance, only to discover that it was a scam.

Direktbetalning solves this problem in a similar way in which it does for goods sold online. Trustly holds the rent money until the day after the rental period begins, then pays it out to the landlord. If fraud occurs, rent money goes back to the tenant. It works like a small escrow, the only difference being that the payment is done in real time and payment is sent directly to the bank account of the recipient.

TrustlyList2.jpg

Trustly currently supports all major banks in Sweden, Finland, Denmark and Spain. To learn more about Trustly, watch its FinovateEurope 2013 demo where it debuted Direktbetalning.