19 Oct - 2017
London and Stockholm, October 19, 2017 – Flywire, a provider of international payment and receivables solutions, and Trustly, the European payments company, today announced a new partnership that will integrate Trustly as a preferred payment option for businesses, students and patients in Europe making cross-border payments via the Flywire platform.
With the addition of Trustly, Flywire clients can offer their international customers a fast and easy way to pay directly from their local bank accounts while streamlining payment and receivable reconciliation for administrators. The service will be available across the European Union effective immediately.
According to Datamonitor, 93% of European citizens use their bank accounts as their primary funding source. With new digital authentication methods, the bank account has grown in relevance across European markets for both domestic and international payments. And merchants and service providers are looking to accommodate their customers’ payment habits.
Flywire provides businesses, educational institutions, and healthcare providers with the ability to offer their customers a highly-tailored, international payment experience – customized by country, currency and vertical. Trustly offers cross-border online banking payments straight to and from consumer bank accounts and connects businesses, institutions and consumers by linking together over 3000 banks in Europe. Working together, the companies continue to remove friction from the international payment process and enable their mutual to tailor the payment experience to any customer preference.
“We are very pleased to partner with Flywire, an innovative leader in its field. Now Europeans can pay Flywire-supported businesses, academic institutions and healthcare providers in a simple, safe and convenient way. The digitally minded European consumer will value the possibility to use Trustly’s solution for paying directly from the bank account,” said Oscar Berglund, CEO of Trustly.
“We continue to look for new ways to take complexity and cost out of the international payment process by giving our clients the ability to offer customers their preferred way to pay,” said Mike Massaro, CEO of Flywire. ”Trustly is a highly popular and proven international payment method in Europe that helps our clients meet their customers’ expectations and expand their business potential.”
Flywire is a leading provider of international payment solutions, connecting businesses and institutions with their customers on six continents. Introduced six years ago as a way for international students to pay their tuition for studies abroad, Flywire is now used by over 1,300 organizations across 18 countries around the world. The company processes billions in payments per year from 220 countries and territories, via bank transfer, credit card and e-wallet solutions, in over 120 different local currencies. Convenient, fast and secure, Flywire’s scalable platform provides currency conversion at exchange rates that can offer significant savings when compared to home-market banks and credit card providers. The company also supports its clients with end-to-end customer support including multilingual servicing via phone, email, and chat, as well as 24/7 online payment tracking.
Flywire is headquartered in Boston, MA with operations in London and Manchester, UK; Shanghai, China; Tokyo, Japan; Singapore; Sydney, Australia; and Valencia, Spain. For more information, visit www.Flywire.com.
Founded in 2008, Trustly Group AB is a Swedish FinTech company that makes online banking e-payments fast, simple and secure. The company offers cross-border payments to and from consumer bank accounts at over 3000 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services. In 2017, the Financial Times ranked Trustly as one of the fastest growing companies in Europe on the FT1000 list and the London Stock Exchange recognized Trustly as one of Europe’s most inspiring, fast-growing companies.
Trustly has 170 employees and is headquartered in Stockholm, Sweden, with regional offices in Spain, Malta, Germany and the UK. Trustly is a licensed Payment Institution under the supervision of the Swedish Financial Supervisory Authority. 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.