Trustly (former GluePay/ Instant Bank) allows customers to send money to a merchant’s bank account instantly. Instant Bank is based on intra-bank transfers and works as an automated local clearinghouse to clear and settle bank transfers instantly.
2.45% (min EUR 0.85) industry dependent
What is Trustly?
Trustly allows customers to easyly shop and pay online directly from their bank account. Over 90% of transactions volume is instant. The not instant transactions are made some small banks for which the payment completion is confirmed the following day.
Payments are done in a highly secured envinroment using the same login credentials as the customer uses for his regular online bank account. So the payment steps are familiar making Trustly very easy and convinient to use. Furthermore no extra registration or additional software are necessary to use Trustly.
The funds are instantly debited from the customer’s account. Transaction history and payment details can be viewed by consumers in their own banking reports.
How does Trustly work?
The first step the customer needs to do is to select the desired bank and login with his online banking access data (e.g. account number and PIN/password). The next and final step is to review the payment details and confirm the transfer using a payment code generated with a token device or received by SMS.