What is Trustly?
Trustly is a European fintech company that makes online bank payments fast, simple and secure for consumers and merchants alike. The company offers cross-border payments to and from consumer bank accounts at over 3,300 banks across Europe. Trustly is an authorized Swedish payment institution under the supervision of the Swedish Financial Supervisory Authority (Finansinspektionen) and is licensed to provide cross-border payment services with the EU/EEA.
See more at https://trustly.com/en/ecommerce/
Setting up an agreement with Trustly is free, there is also no monthly fee.
All prices are set and settled directly with Trustly
The standard fee with Trustly is 1,5% (min 0.8 EUR). If your company has a large volume, then the fee can be negotiated with Trustly.
Trustly supports all European currencies, and can make payouts in all European currencies (this is something you set up with Trustly in the onboarding process).
Setting up Trustly in QuickPay
To set up Trustly in the QuickPay manager, navigate to Settings > Acquirers > Trustly and fill in Username and API password. Remember to enable Trustly.
Optimization of the Payment Flow
You can increase the conversion rate by sending the customer’s name along with the payment (e.g. via the parameter
invoice_address[name]), so that the customer doesn’t need to type their name twice. After selecting Trustly in the payment window, the customer will then directly be sent to the page where their bank is selected.
In order to accept iDEAL through Trustly you must first setup an agreement with Trustly, and then get a sub agreement in order to use iDEAL. Once these agreements are in place, iDEAL can be activated in the manager by clicking the Enable iDEAL button.
QuickPay does not yet provide recurring payments through Trustly.
CBD & cannabis
Trustly does not allow CBD or cannabis related products
You will need an agreement with Trustly in order to use it. You may signup via https://services.trustlylabs.com/partners-onboarding/.
In the application, you might be confused about some of the questions. We’ll try to give you some guidance here:
Should the above mentioned email address and mobile phone number be used to receive the live API credentials?, the answer is: Yes
Will you the Partner collect funds on the Merchant’s behalf the answer is: No
Customer ID In the customer ID field, input you QuickPay merchant ID. It can be found in the QuickPay manager in the top left corner when logged ind
In the question below you are asked whether your company is a PSP that wishes to provide Trustly to your merchants. If you are a regular ecommerce company that simply wishes to provide the Trustly payment method to your customers, then click No and leave the next question blank.
Merchant category code or MCC, is a code that helps Trustly understand which area category of business you are in.If you already have an acquirer agreement, then you have already been provided with a MCC. This can be found on your acquirer agreement. Fill the MCC into the field on the applicaiton. If you do not yet have a MCC, then you can contact Trustly and they will help you determine the correct MCC for your business.
Does your business require a special licence to operate (i.e. if you do forex trading or online gambling)?
If you have a big annual turnover, or perhaps many transactions, then you can check the Exception option. You will then be contacted by Trustly regarding an optimized offer. If you choose Standard then you will get an agreement with the pricing model at the top of the article.
Which products should you activate? QuickPay only supports Pay-ins and Pay-outs / Refunds. Therefore you only need to check these two options.
Contact QuickPay Support