The Pain: Why Cards Aren’t Always the Answer
European e-commerce pays card systems 1.5–3.5% per transaction. Add chargebacks (0.5–2% of transactions), fraud monitoring, and currency conversion fees — and net payment acceptance eats up to 5% of margin. But the bigger issue: in Germany, the Netherlands, Austria, and Poland, a significant share of buyers fundamentally avoids using credit cards online. They pay by direct bank transfer. If your store doesn’t accept Sofort, iDEAL, or standard bank transfers — you lose these buyers. Trustly solves both problems.
The Solution: How Trustly Works
Trustly is an open banking platform built on the EU’s PSD2 directive. Instead of card networks, Trustly connects directly to banks via API: the buyer selects Trustly at checkout, authorizes via their bank (BankID, face ID, PIN), funds transfer directly from buyer’s account to seller’s account in 5–30 seconds. Trustly covers 30+ European countries and 6500+ banks.
What It Gives Businesses
Instant settlement — money arrives on the merchant’s account same day. Near-zero chargebacks — bank transfers authorized via two-factor authentication are virtually undisputable. Lower fees — 0.5–1.5% vs 2.9%+ at Stripe. Conversion on local markets — iDEAL in the Netherlands (60% of online payments), Sofort in Germany (25% market share).
Downsides
Critically dependent on PSD2 regulation in the EU — doesn’t work outside Europe. Not all banks support instant transfers. Integration is more complex than plug-and-play solutions. And crucially: Trustly is not a Merchant of Record — tax accounting remains on your side.
Partner Program
Two tracks: Referral (affiliate) with commission on processing volume, 30-day cookies, monthly payouts. Technology (integration partner) for certified integrations with co-marketing and priority support.
Who Should Use It
Choose Trustly if your market is Europe (especially Germany, Netherlands, Scandinavia), you’re losing customers due to missing bank transfer at checkout, chargebacks eat significant margin, and instant settlement matters. Skip if you’re outside the EU, need a Merchant of Record, or lack resources for custom integration.