Kivra and Trustly have reportedly developed a new generation of Autogiro, making automatic payments easier.
The service allows users to register direct debit with a simple BankID confirmation, “lowering the barriers to sign-up.”
For businesses, the solution can drive more on-time payments, “reduce administrative workload, and enhance the customer experience.”
With more than 6 million users, Kivra has established itself as Sweden’s “digital mailbox.”
In partnership with Trustly, the global enabler of Pay by Bank solutions, Kivra is now taking the next step in “making automated payments smoother and more secure.”
Johan Tjärnberg, Group CEO at Trustly said:
“Trustly is driving the development of Open Banking on a global scale, and Sweden—with its world-class fintech sector—is the perfect market to test new innovations. Together with Kivra, we look forward to setting a new standard for the future of payments.”
The solution reportedly provides a better experience for users. With bank account details pre-filled, Autogiro can be “activated instantly with a BankID confirmation.”
This minimizes errors and ensures a “higher success rate for users signing up. Payments are processed automatically, while users maintain full control with notifications and spending limits.”
For businesses, the solution improves cash flow, “reduces the need for manual follow-ups, and leads to higher customer satisfaction by ensuring more invoices are paid on time.”
Henrik Lönnevi, CEO at Kivra said:
“At Kivra, we see this partnership with Trustly as an opportunity to reshape how Swedish businesses and consumers experience payments. With our enhanced Autogiro service, we can offer our business customers a smarter, smoother, and more efficient way to manage payments.”
The service is launching in conjunction with Stockholm Fintech Week.
The first company to reportedly offer the solution was energy provider GodEl, which has already “enabled its customers to make seamless payments via Kivra.”