Trustly, a global firm focused on innovative payment solutions, announced a partnership with MoneyGram International, Inc., a financial technology company that connects the world’s communities. Through this strategic alliance, MoneyGram introduces cardless payments for millions of its users across Europe.
When sending international money transfers through MoneyGram Online (“MGO”) – MoneyGram’s leading website and app – users “can enjoy increased flexibility with the ability to pay directly from their bank accounts.”
This service, which is made possible through Trustly’s open banking platform, “enables MGO users to now bypass the need to manually enter card information on the app.”
Jussi Lindberg, Chief Revenue Officer at Trustly Europe, shared:
“We’re delighted to partner with MoneyGram to offer our payment product to their users. We’ve long been impressed with their ability to offer fast, digital bank transfer payments well ahead of the general adoption curve. With this partnership, we look forward to giving consumers the ability to transfer money with ease, leveraging our collective cross-border capabilities and market-leading reliability.”
Leveraging its proprietary data engine, Azura, Trustly says that it “offers financial institutions a modern, pay-with-bank infrastructure that is equipped with near-instant payments and best-in-class KYC capabilities.”
Many of the world’s top tech and fintech organizations continue “to choose Trustly, such as Dell Technologies, T-Mobile, Lyft, and now MoneyGram.”
Sara Vassar, Chief Product Officer at MoneyGram adds:
“For over eight decades, MoneyGram has been at the forefront of innovative, secure and convenient global money transfer solutions, meeting the dynamic needs and preferences of our customers. We’re excited to partner with Trustly to continue to streamline the money transfer process for more consumers across Europe.”
Currently available in select European regions, the partnership has recently “extended to additional countries, including the United Kingdom and Germany, within the last month.”
As covered late last year, Trustly, a global enabler of Open Banking Payments, is pleased to announce that it is seeing steady adoption of its Real-Time Payments (RTP) service and has reportedly become one of the “largest” originators on the RTP network.
Specifically, Trustly’s RTP volume reportedly “grew 29% in transaction volume and 31% in payment value from Q2 2023 to Q3 2023.”
Trustly’s mission has been to “make its account-to-account payments platform the most advanced ‘pay with bank’ service available.”