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February 17, 2022

Trustly launches FlexPay by Trustly for deferred payment settlement

Swedish payment firm Trustly has launched a new offering, called FlexPay by Trustly, which provides flexibility to consumers to defer their settlement date of a debited amount.

Merchants will be able to configure the deferred settlement period to up to 30 days. 

The new offering allows consumers to defer the settlement date of the amount without paying ‘any additional fees or hidden charges’.

Trustly noted that consumers can still choose to make the full payment at the time of service, but the new offering will help them avoid any credit checks if they need to delay for a payment.

In addition, they will be protected by the firm’s bank-grade security that comes standard with its bank connectors.

Trustly North America president Pete Ohser said: “Increasingly, people are looking for more flexible ways to pay and we’re excited to introduce a product that delivers on that.

“With FlexPay by Trustly, consumers get the same safe and fee-free Trustly payments they love, while also benefiting from the flexibility of deferred payments without credit checks or interest. On top of that, guaranteed payments ensure no chargebacks for merchants, which is a true differentiator.”

Founded in 2008, Trustly facilitates online banking payments to merchants through its digital account-to-account platform.

The company said that it will continue to offer merchants its open banking payment features, including reduced processing charges, and tools to increase conversion, basket size, and consumer loyalty.

Last year, a report by Bloomberg stated that Trustly indefinitely postponed its plans to raise $9bn through initial public offering (IPO) following concerns from the regulators.

The firm was earlier expected to debut on the Nasdaq Stockholm exchange at a valuation between $8.2bn and $8.8bn.

In June 2020, Trustly secured an undisclosed investment from a number of investors to drive its investment in infrastructure and global expansion.

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