If you use the internet, then you know how important it is to make online monetary transfers. Sure, cash takes care of a lot of things. But sometimes, you can use cash for making payments. Perhaps you want to make a purchase on eBay, as an example. What should you do in such a case? Well, you can begin using one of the many different payment methods for this purpose. And each and every online payment method has its own strengths and weaknesses.
Today you will learn more information about one such payment method. What we’re talking about here is Trustly. Trustly is a leading name in making online payments. As such, it’s used by many people all around the world. If you wish to learn more about Trustly, then you have come to the right place.
there are millions of people that use this platform
History of Trustly
The Trustly Group is a company that works in the field of fintech. It was originally created in 2008. The goal of Trustly is to provide a payment method for business and individuals online. The Trustly service is provided through TransferWise and PayPal.
Very shortly after the creation of the company, the owners managed to sign contracts with internet retailers. And after this was a period of rapid expansion and growth of the company. At one point the company started off a process of a geographic expansion. After this was completed, the Trustly’s revenues went up by more than 200%.
In 2014 the company signed a strategic partnership with PayPal and Groupon. At this point in time, Trustly reached a mark of over 10 million transactions. At the current point in time, the company is valued at about 700 million euros.
Is Trustly safe to use?
Many people are very concerned when it comes to using online payment methods. The concern for hackers and hacking is always there. And what if the payment method operators are shady? What if you’re falling into a trap? Well, this is completely understandable. However, since you’re reading this review, it means that you want to inoculate yourself against being misinformed.
How does Trustly fare when it comes to safety? The truth of the matter is that Trustly is one of the safest payment platforms on the internet. There are countless people that have used Trustly and never reported any problem whatsoever. Also, Trustly is supervised by the Swedish Financial Supervisory Authority. This makes it a very legit payment platform – one that is very safe to use.
Geo-availability of Trustly
Invariably you will want to know the answer to the question of where this platform is available. There are many other payment platforms that are available in well over 200 countries in the world. How does Trustly fare in this regard?
Not so well. The fact of the matter is that Trustly is only focused on the European market. In total, this payment method is supported in no more than 29 countries in Europe. However, there are millions of people that use this platform in these countries. The countries that you can use this platform in are Spain, Italy, Poland, Sweden, Finland, Denmark, and many others.
Withdrawing money from Trustly
There are some benefits to the fact that Trustly is only focused on the European market. One of them is the fact that the transactions that are made between two Trustly accounts in the Eurozone are instant. So, if you live anywhere in the Eurozone, you can send payments anywhere else in the Eurozone. And this will be an instant process. Likewise, if someone sends you an approved payment through Trustly, you can withdraw it instantly.
It’s not that difficult to use this payment platform. In fact, the entire design of this platform is made with simplicity in mind. If you have basic knowledge of using computers, then you will need only a few minutes to learn what Trustly is about. The best thing about this is that the recipient of the money doesn’t have to have a Trustly account. You can use their email in order to send them the money regardless if they have registered a Trustly account. And then they will receive a message on their email telling them that they have money on Trustly. Then they will have the option to create a Trustly account and withdraw the money.
If you use this platform, you will need to pay some fees upon making the transactions. And these fees will vary depending on the size of the transaction that you have made. However, you need to be aware that there are no hidden or extra fees that you will need to pay. At least not on the side of Trustly. What can happen is that your bank can charge fees for using Trustly. But the platform itself has nothing to do with this. It’s best that you do a bit of research on the bank that you use. See if they will charge you extra if you use Trustly.
Trustly and privacy
The official terms and conditions state that Trustly is very much concerned about your privacy. However, there have been some reports of the company getting access to confidential information. You need to be extra careful when giving confidential information. But the fact still remains that this platform is supervised by the Swedish Financial Supervisory Authority. This is a government agency that supervises the work of financial organizations, Trustly included. So, it’s a double-edged sword. You need to decide whether you’re willing to use this payment platform and risk potential privacy breaches yourself.
Trustly is one of the most widely used payment methods in the continent of Europe. Not at least when it comes to online casinos. The fact that it’s focused on the Eurozone market means that you can benefit from instant payments if you live there. The safety and security of your information and money are guaranteed by the supervision of the SFSA. In most cases, you wouldn’t have any issues with the use of Trustly whatsoever. We hope that you will enjoy using it.