Flywire, a provider of international payment and receivables solutions, and Trustly, the European payments company, today announced a new partnership that will integrate Trustly as a preferred payment option for businesses and students in Europe making cross-border payments via the Flywire platform.
With the addition of Trustly, Flywire clients can offer their international customers a fast and easy way to pay directly from their local bank accounts while streamlining payment and receivable reconciliation for administrators. The service will be available across the European Union effective immediately.
According to Datamonitor, 93% of European citizens use their bank accounts as their primary funding source. With new digital authentication methods, the bank account has grown in relevance across European markets for both domestic and international payments. And merchants and service providers are looking to accommodate their customers’ payment habits.
Flywire, provides businesses, educational institutions, and healthcare providers with the ability to offer their customers a highly-tailored, international payment experience – customized by country, currency and vertical. Trustly offers cross-border online banking payments straight to and from consumer bank accounts and connects businesses, institutions and consumers by linking together over 3,000 banks in Europe. Working together, the companies continue to remove friction from the international payment process and enable their mutual to tailor the payment experience to any customer preference.
“We are very pleased to partner with Flywire, an innovative leader in its field. Now Europeans can pay Flywire-supported businesses and academic institutions in a simple, safe and convenient way. Digitally-minded European businesses and consumers will value the possibility to use Trustly’s solution for paying directly from the bank account,” said Oscar Berglund, CEO of Trustly.
“We continue to look for new ways to take complexity and cost out of the international payment process by giving our clients the ability to offer customers their preferred way to pay,” said Mike Massaro, CEO of Flywire. ”Trustly is a highly popular and proven international payment method in Europe that helps our clients meet their customers’ expectations and expand their business potential.”