07 Nov - 2019
Stockholm, Sweden, November 7, 2019 — Trustly and digital recycling refund solution iPANT are pleased to announce a partnership that lets people recycle their empty bottles at reverse vending machines (also known as RVMs or pantmaskiner) in their housing complexes and receive their refund directly back to their bank account.
Swedes are becoming increasingly proactive when it comes to recycling and protecting the environment. In fact, each year Swedes recycle roughly 1.8 billion bottles and cans in the “pant system.”¹ In 2018, roughly 85% of all cans and PET bottles were recycled, and Sweden aims to reach 90%.²
Through the new partnership between iPANT and Trustly, recycling bottles and getting refunds will be easier than ever. iPANT users can simply recycle their empty cans and bottles in the iPANT machines, installed in residential housing complexes, and scan the QR code shown on the screen with their smartphone. They can then collect their refund and easily transfer it to their bank account with Trustly.
The partnership will initially launch in Sweden, with plans to roll out to other Nordic countries soon.
Saeid Rashidi, CEO of iPANT, said: “Most people understand the importance of a sustainable environment, but don’t know how they can help. Our advanced technology, coupled with Trustly’s convenient refunds, makes it easier and more profitable for people to recycle.”
Johan Nord, Chief Commercial Officer at Trustly, said: “Up until now, it was only possible to use Trustly online, but through this partnership with iPANT, we’re taking a step into the offline world. We’re proud to work alongside a company like iPANT that is making it easier for people to do good, and it is rewarding to see how our payment solutions can be used to reinforce positive actions in our communities.”
Founded in 2008, Trustly is the global leader in online banking payment solutions. Our account-to-account network completely bypasses card networks, letting consumers make fast, simple and secure payments to merchants directly from their online bank accounts. Trustly serves many of the world’s most prominent merchants within e-commerce, travel, gaming and financial services, who benefit from increased conversion and reduced administration, fraud and chargeback risks. Thanks to our coverage of 4,000+ banks, more than 600 million consumers across Europe and the US can pay with Trustly.
Trustly is backed by leading private equity investor Nordic Capital and growth investment firm Alfvén & Didrikson. We have over 350 employees with headquarters in Stockholm, Sweden, and offices across Europe and the Americas. Trustly is a licensed Payment Institution in accordance with the second payment services directive (PSD2) and is under the supervision of the Swedish Financial Supervisory Authority. Read more at www.trustly.com.
About iPANT (Techson Nordic AB)
Headquartered in Stockholm, the IT service provider TECHSON has grown rapidly to an international player providing complex platform-based systems through its technology partners.
Techson takes an individual approach to each client, analyzing consumer behavior to advise merchants on payment strategies, risk management practices, and industry trends. Read more at www.ipant.se.
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.