Open banking payments platform Trustly will help students pay for their insurance through a new partnership with Swedish insurer Folksam.
By working together, students will now be able to pay for insurance and receive claims payouts directly from their online bank account. The technology aims to help policyholders get instant compensation.
Trustly, which was founded in 2008, builds cross-border payment technology, supporting direct money transfers from bank accounts across 29 countries in Europe. Merchants benefit from receiving real-time confirmation when the payment is completed and Trustly’s unique refund functionality helps reduce costs and administration complexity with returns.
Trustly CCO Johan Nord said, “Folksam has long been one of Sweden’s most prominent insurance companies, and we are proud to be able to help it address a digitally native segment with an intuitive and entirely digital recurring premium payment and claims payment process. Trustly’s payment products are highly optimized for mobile, which makes our solution a great match for Folksam’s needs.”
Last year, Trustly partnered with business-to-business e-commerce platform Alibaba. Through the deal, Trustly’s payment service will be available for Alibaba.com.
Copyright © 2020 FinTech Global
