5 min read

Enable direct payments via bank transfer with Trustly in Sweden

Published on 9 Jan 2023

Contributors

Vlad is Senior Product Marketing Manager at Nets and works with product updates, including campaigns and customer communication within ecommerce and digital payments.

Taking a step closer towards offering flexibility in payments, we are happy to announce that Trustly is now available on our Nets Easy checkout platform.

Supporting a diverse set of payment methods is vital if you want to keep your customers satisfied. It’s been quite a journey: pay with card, by mobile, with PayPal, via invoices. Even through instalments. We made it possible for our Nordic consumers to also use bank transfers – paying directly from their bank account using Trustly. 

With Trustly as a payment partner, we can cover 99% of the Swedish market when it comes the preferred payment methods, making our product offering in Sweden even stronger. 

Why now, you ask?

Nets Easy has always been providing the top preferred payment methods of Swedish consumers. However, in order to be truly flexible, and to provide all the options to choose from – it was crucial to enable direct bank transfers – the missing yet much needed option. This is a method which, for some, ensures new benefits (such as not maxing out their credit cards) and extended security. 

Even with the rapid growth of mobile payment methods such as Swish, the payment landscape in Sweden is still fragmented. Paying by card remains a top preference with 22% of consumers, while 35% of consumers prefer to pay by invoice. But what you might find surprising is that 13% of consumers prefer to pay with a direct payment via Internet Banking. 

 Trustly allows consumers to make fast, simple, and secure payments directly from their bank accounts – with zero risk. In fact, the company reported 42% year-on-year growth for 2020, delivering revenue equivalent to $227 million. 

It’s all about the buyer’s journey

Trust & Experience 

We care about customer experience. According to Trustly research, 95% of consumers report that same-day refunds make them more loyal to a merchant. With Trustly, refunds are paid instantly to consumers from the merchant’s balance. The key is delivering a leading Open Banking checkout experience – a vision which Nets supports, in addition to our shared goal of offering a high-level solution for our customers. 

 In addition, with Trustly onboard, we can offer a consolidated payout for all payment methods bringing direct transfers into the fold. It means our users can always keep their data safe as we do not require them to enter card details. 

 

What does a checkout flow with Trustly look like?

 The checkout flow remains the most important opportunity to keep cart abandonment low, so removing any unnecessary steps remains our priority. 

We keep it simple: 

  • Select Trustly as your payment method 
  • Authenticate the payment through the online banking interface 
  • After being redirected back to Trustly, continue with the payment, all details included 
  • Confirm the payment and authorise it (using the standard SCA) 
  • Get back to the merchant’s confirmation page  

The simpler, the better – and at Nets Easy, we are doing our best to provide you with modern payment services that are impactful for your sales and convenient for your customers! And we don’t stop there! We pay attention to what makes the consumer experience more frictionless, while enabling merchants to hustle less – and sell more. 

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Our turnover increased by 21.5%. Additionally, we have 28% more transactions – and 49% more orders from mobile.

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Our conversion rate increased from three to four percent, a very big change that resulted in an increase in completed purchases by 30%.

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