Last week, more than 53,000 techies from 166 countries descended upon Lisbon for the annual Web Summit conference. Of the 15,000 companies present, Trustly was proud to be named one of the top 50 startups investors were excited to meet at the show.
We exhibited in the Alpha area alongside other Swedish companies and Head of Marketing Stefan Backlund had the opportunity to speak in the Swedish Hotspot area sponsored by Business Sweden (and built by Ikea, of course).
In his presentation, Backlund explained that just as the smartphone is the heart of our social lives — we use it to watch movies, order taxis and food, find love and more — the bank account is the heart of our financial lives. Whereas credit cards expire or can be stolen, the bank account doesn’t expire and is much safer.
He went on to quote a former CEO of a major bank, who said, “We’ll probably be the last generation to use the term credit card and debit card … It will probably be debit access or credit access, and it will likely be loaded onto a mobile device.”
Trustly enables consumers to pay directly from their bank account, Backlund said, cutting out all the middlemen in the payment chain. Trustly’s hockey-stick growth is a testament to the value of our payment solutions, and Backlund pointed out three key areas that have helped contribute to this growth:
Innovation in technology: Today Trustly has coverage of 140 banks in 29 markets and this is growing by the day. Unlike most payment service providers, Trustly is both a sender and receiver of funds, which means we oversee the whole payment chain and can thus offer more efficient refunds — crucial for industries like fashion where return rates can be as high as 50%.
Strong partnerships: Where some see competition, Trustly sees collaboration. Trustly partners with both big banks and FinTech disruptors to offer the speed they miss. For instance, we compete with PayPal in the checkout, but also have a partnership in 11 markets where we help consumers instantly top up their PayPal accounts from their bank accounts.
Employer branding: For a fast-growing company, attracting — and retaining — top talent is of the utmost importance. Trustly aims to create an environment that is both collaborative and inspiring. We start each day with a great breakfast that encourages socializing and we also have a game room that helps people relax when their brain needs a break. With plans to hire more than 100 new talents in the coming year, being seen as an attractive employer is paramount.
All in all, it was a great week in Lisbon packed with exciting meetings and inspiring speakers. A big thanks to Business Sweden for making it possible!