21 Jun - 2016
Trustly, the Swedish FinTech company, today announces the opening of its office in London, together with the appointment of Michael Parkinson as General Manager of Trustly UK and Director of Travel and Airlines.
Trustly’s UK office will focus on expanding the use of its successful online banking payments services among UK merchants, in particular, those within Trustly’s target verticals: e-Commerce, Travel, Financial Services, Marketplaces and Gaming.
Trustly provides merchants with instant payments directly from online bank accounts across Europe. Through Trustly’s platform, funds are transferred in seconds, including during evenings and weekends when ordinary clearing systems are closed. The product is free for consumers and eliminates risk and fraud issues for merchants, which is crucial for a successful cross-border business. The user interface can be integrated directly into the merchant’s webpage and visiting consumers can pay directly from their local bank at UK e-stores. It is safe, simple to use and works on any device.
Carl Wilsson, Co-founder and CEO of Trustly, said: “The UK is an established pioneer in e-commerce and a global financial hub. Banking in the country has become increasingly digitized, so the time was ripe for Trustly to establish a physical presence here. UK cross-border online commerce is significant with continental Europe, where consumers have a strong preference for bank payments.”
The UK office will be led by Michael Parkinson, who joins the company from payment service provider Worldpay, where he was Vice President of the Aviation sector. Parkinson has over a decade of experience in payments, having held various senior positions at Worldpay, including Head of Partnerships and Head of Global Corporate Sales. At Trustly UK, Parkinson will head business development for the Travel and Airlines segment, along with managing day-to-day operations.
“Mike brings a unique blend of skills and expertise to our team and we look forward to introducing UK consumers to our streamlined payment method, direct from online UK bank accounts,” said Wilsson.
Michael Parkinson, GM of Trustly UK, said: “I am delighted to join Trustly during such an extraordinary growth period in the payments industry in general, and the company in particular. Against this backdrop, Trustly provides a service that will not only enhance the UK online banking payment experience but can also offer simple and quick cross-border transactions to its networked and international citizens. We are in an excellent position to strengthen our market presence at a time whenglobal cross-border e-commerce is set to grow to £28B by 2020, with the UK expected to have a 60% share of that market.”
Trustly processes over 1.7 million transactions every month across more than 100 banks following its expansion into 29 European markets in October 2015. The company’s UK office will be located in Central London.
Founded in 2008, Trustly Group AB is a Swedish FinTech company that provides fast, simple and secure online payments, direct from bank accounts. Its B2B payment solutions attract global merchants in five main segments: e-commerce, travel, financial services, online marketplaces and gaming. FinTechCity London has named the company as one of the European companies that will revolutionize the financial services sector. In 2015, Trustly was designated a Gazelle Company by Dagens Industri newspaper.
Trustly has 105 employees, offers its services in 29 countries and links together over 100 banks in Europe. Trustly is a Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority, with a license to provide payment services within the EU/EEA. Read more at www.trustly.com.
Trustly Group AB (corporate identity number 556754-8655) is an authorized Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen). The company conducts payment services in accordance with the Payment Services Act (2010:751) and can provide cross-border payment services within the EU/EEA.