Flywire agrees cross-border deal with Trustly Group AB
Customers of electronic payments processor Flywire can now utilize the services of Swedish financial technologies firm Trustly Group AB to initiate cross-border transactions from anywhere in the European Union.
Stockholm-based Trustly Group AB stated that the designation of its services as a preferred payment option with Flywire means that international customers now have ‘a fast and easy way to pay directly from their local bank accounts’ while administrators enjoy streamlined ‘payment and receivable reconciliation’.
Oscar Berglund, Chief Executive Officer for Trustly Group AB, called Flywire ‘an innovative leader in its field’ and stated that he was ‘very pleased’ to partner with the Boston-based processor.
“Now Europeans can pay Flywire-supported businesses, academic institutions and healthcare providers in a simple, safe and convenient way,” said Berglund. “The digitally-minded European consumer will value the possibility to use Trustly Group AB’s solution for paying directly from the bank account.”
For its part, Flywire cited research from Datamonitor that indicated 93% of citizens in the 28 member states of the European Union still rely on a personal bank account as their primary funding source. It explained that new digital authentication methods have seen these grow in relevance and prompted merchants and service providers to look into new ways of accommodating existing payment habits.
Mike Massaro, Chief Executive Officer for Flywire, declared that the integration of technology from Trustly Group AB was all part of his firm’s search for ‘new ways to take complexity and cost out of the international payment process’ and give merchants the ability to offer customers ‘their preferred way to pay’.
“Trustly Group AB is a highly popular and proven international payments method in Europe that helps our clients meet their customers’ expectations and expand their business potential,” said Massaro.