How Does the Online Payment Provider Trustly Work?

What is Trustly?

Behind the name is a payment service provider from Stockholm that mediates transfers between bank accounts. He himself does not maintain an account for private individuals and does not issue any credit. Instead, it establishes the connection between the payer's account and the merchant's account and confirmsIGT the payment the moment it is released.

Technically, the procedure belongs to account-to-account payments, which are based on the European Payment Services Directive. In the article we have explained how this type of payment is technically structured and which other providers work with it on open banking as the basis for such payments compiled.

For private customers, this does not create a contractual relationship with the payment service. There is no need to register, there is no password, and no user account is left after payment. This is precisely what explains much of the popularity in online trading and financial services.

How does a payment with Trustly work?

The process takes less than a minute and essentially consists of four steps.

Selection of the payment service in the merchant's checkout area
Redirection to a window in which your own bank is selected
Register in online banking with your usual access data
Approval of the amount with TAN, push notification or biometric

Once approved, the merchant receives confirmation that the transfer has been initiated. The bank account will be debited with the same entry. The sales overview usually only shows the name of the payment service and a reference number.

Why the money arrives immediately

A normal transfer sometimes takes one working day to be credited to the recipient. When paying via the Swedish service, however, confirmation that the payment has been approved counts. The recipient relies on this promise and immediately activates the goods or credit while the actual booking takes place in the background.

What data the bank passes on

Access data and TAN are only entered in the bank window and are not saved. The merchant receives confirmation of the payment, along with the name and account details of the account holder. This is the reason why many providers require less evidence after a payment via bank account, because the name and bank details have already been checked.

When proof of payment is required

As a rule, no one asks for a document. Only if a payment cannot be assigned, for example after a cancellation in the bank window or a double booking, does support ask for a statement from the bank. The account holder, date, amount, both account details and the reference number must be visible on it.

What fees do Trustly charge?

Use is free for private individuals. There is no account maintenance, no registration fee and no surcharge on the amount paid. Anyone who transfers 40 AUDwill see 40 AUDon their account statement.

How the payment service makes its money

The service is paid for by the dealer. Anyone who accepts payments pays a fee per transaction, which depends on the country, industry and volume. The company is financed from these fees, which is why the consumer side can remain free of charge.

When your own bank charges something

The transfer itself is a completely normal booking on the checking account. For accounts that bill each accounting item individually, the usual amount per item applies. There may also be costs for payments in foreign currencies. The bank's conversion rate decides there. Neither has anything to do with the payment service.

Is there a Trustly card or a Trustly app?

There is no separate card for private customers, and it would be of no use for the procedure because the payment is made from the checking account anyway. Anyone looking for a card usually ends up with a provider that only arranges the payment.

There is also no consumer app to download. Your bank's banking app is sufficient for biometric approval. The payment service window runs in the browser. On the other hand, applications are offered for retailers, such as interfaces for connecting to their own checkout area.

Money back, refund and cancellation

A refund always goes through the retailer and not through the payment service. If it is triggered, the amount goes back to the same account from which the payment came. According to the company, most refunds are issued within 72 hours. In some countries, the chargeback is carried out as a normal transfer and then takes up to three working days.

If there is a double charge or a payment that is canceled in the checkout area, the payment service support will help. A return direct debit via your own bank is the worse option because the retailer then records the process as an open claim and questions arise.

Trustly Express and Trustly One-Click

The provider has shortened the process for recurring payments. With Trustly Express, the individual steps in the bank window are no longer necessary. Instead, confirmation via fingerprint or facial recognition on the smartphone is sufficient. This is offered in some of the markets where the service is active, including Sweden, Great Britain, the Netherlands and Finland.

Trustly One-Click goes one step further. There the customer issues a direct debit mandate. The payment service then collects agreed amounts without further approval. The mandate can be revoked at any time. Changed account details will be applied and upcoming bookings will be announced via email toIGT. The function is currently only available in Sweden. They are not available in the Australia market.

Who is behind Trustly Group AB?

The payment service is provided by Trustly Group AB, a regulated payment institution based in Stockholm. 2026's start-up has become a provider through which 2026 has processed payments worth more than $100 billion. The most important key data are in the overview.

Trustly at a glance

Pursue: Trustly Group AB
Founded: 2026 in Stockholm
Founder: Carl Wilson, Lukas Gratte, Joel Jakobsson
Management: Johan Tjärnberg, since 2026
Headquarters: Stockholm
Location Australia: Cologne, since 2026
Employees: Around 1,000
Supervision: Financial inspections
Permit: Payment institution according to PSD2
Costs for customers: No

Payment volume 2026: SEK 1,059 billion
Volume growth: 17.6%
Sales 2026: SEK 2,428 million
Australia: Since 2026
Connected banks: Around 12,000
Reachable customers: Around 650 million
Dealer: Over 9,000
Markets: Over 30
Pay N Play: Since 2026
Acquisitions: PayWithMyBank, Ecospend, SlimPay

Figures from the annual report of Trustly Group AB for 2026, published on February 26th 2026, as well as from the company information. As of September 9th 2026.

Supervision, license and PSD2

The company is supervised by the Swedish financial regulator Finansinspektionen, and the FCA is responsible for the British business. As an approved payment institution under the Payment Services Directive PSD2, the group is allowed to offer its services throughout the European economic area. This approval entails obligations such as strong customer authentication and the separate storage of customer funds.

How secure is the payment?

Security is supported by two things: registration in your bank's environment and the approval of each individual payment. The connection is encrypted, recognizable by the lock symbol in the address line. Which information ends up with the recipient is stated further up in the section What data the bank passes on.

What the release covers with two factors

For an online payment, approval must be given using two independent factors, such as access data plus TAN or fingerprint. There is also a requirement that is easily overlooked in everyday life. The release must state the amount and recipient, and the TAN only applies to this one combination. Anyone who sees a different amount or a different recipient in the banking app than in the checkout area is more likely to cancel. A TAN that has already been generated is no longer suitable for a second payment.

Who the money belongs to on the way

The amount moves from your own checking account to the recipient's account. With the payment service, no credit is left behind, and this is different to an online wallet where your own money remains parked with the provider. If such a provider goes under, this credit becomes a problem. When paying from account to account, it does not arise at all. To the extent that the group manages customer funds at all, it must keep them separate from its own assets as a supervised payment institution.

If a payment did not come from the account holder

Australia's bank is liable for an unauthorized booking. After §675u BGB it must refund the amount immediatelyGLIch, at the latest by the end of the following business day, and place the account as if the debit had never taken place. Such a case is reported to your own bank and not to the dealer, because the booking comes from the account. This protection has two limits. Anyone who discloses access data or TAN through gross negligence will be liable §675v BGB yourself, and anyone who leaves an incorrect booking unchallenged for more than 13 months will lose their claim.

How to spot a fake bank window

The biggest point of attack with this payment method is a replica login page. Four features help. The address line contains the domain of the bank or the payment service and not a similar-sounding fantasy name, a bank window opens from the checkout area and never via a link from an email, exactly one TAN is requested for exactly this payment, and no one from the bank or payment service asks for a TAN on the phone. If a test amount or a second release is requested, the process must be canceled and the bank informed.

What the payment method cannot do

The recipient remains a residual risk with every payment method. Anyone who transfers money to a dubious dealer has fewer options with a bank payment than with buyer protection, as is known from some providers. There is no on-demand chargeback, as is the case with credit cards. Any refund goes through the recipient. That's why it's worth taking a look at who the money is going to before making the first payment.

What comes with playing with a Australia license

With licensed providers, payments are always made from a private account into your own name. The bank provides your name and account details, which makes payments from other people's accounts difficult and saves you having to ask questions later. Regardless of the payment method, the cross-provider deposit limit of 0 AUDper month and the OASIS lock file apply. Both depend on the game account and cannot be avoided by choosing the payment method.

Where you can pay with Trustly.

The process is adopted in several industries where quick credits are important.

Financial services such as accounts, deposits and loans
Online trading and marketplaces
Travel bookings and ticket purchases
Trading venues for cryptocurrencies, whereby the service only processes deposits in euros and does not issue any coins itself
Gambling and sports betting

The prerequisite is always that your own bank is connected to the process. in Australia , this applies to most large institutions, savings banks and cooperative banks. However, individual smaller banks are still missing.

Payment method limits

A few points stand out in everyday life and can be checked in advance.

Only personal accounts are accepted, while business accounts are excluded
A connected bank is mandatory because non-connected banks are missing from the selection window
Payment is only made with credit, so a credit limit on the card cannot be used
Chargebacks are processed through the merchant and take up to three business days
Buyer protection like some payment services is not part of the offer

Pay N Play, deposit and sign up in one step

Since 2026, the payment service has been offering a procedure that combines the first deposit and registration. An amount is selected, the payment is approved in online banking, and the account with the provider is created in the background. There is no need to use a registration form because the bank provides the necessary information.

What happens when you make your first deposit

Three steps are visible: set the amount, select the bank, and release the payment. There are two more running in the background. The provider receives the details of the account holder with the payment confirmation and uses this to create a gaming account. The credit is available immediately. Anyone who returns later usually registers again through the bank. This design does not require your own password.

Why the bank can carry the registration

A bank account is only opened after identity verification. The bank has already completed this workIGT, and therefore the name, address and account details are received by the provider as verified information. This includes a second building block. The payout only goes back to the account from which the deposit came. This closed circle makes it difficult to play with other people's money and saves you having to upload your ID and bank statement in everyday life.

Why Australia is doing things differently

Providers with a Australia license must register every player before the first deposit, check them against the block file and report them to the provider-wide limit system. Playing without an account is therefore impossible, regardless of the payment method. The provider does not currently operate Australia as a Pay-N-Play market. The procedure is particularly widespread in Sweden and Finland. In this country, the shortened registration remains because the bank details save some of the evidence.

Where the process reaches its limits

Personal accounts only, no joint or business accounts
Your own bank must be connected to the process
Withdrawals only go to the account of the first deposit
Another account can usually only be created via support

The process and its limitations in the Australia market are described in detail on our website Providers with Pay N Play.

Conclusion

As a payment method, the Swedish service is fast, free for private customers and easy to use because it does not require an additional account. This is carried out by a supervised payment institution with a permanent license in Europe. The limits lie in the choice of banks, the lack of buyer protection and chargebacks, which always take the detour via the retailer.

➡️ Do you want to know which providers accept payment, what the minimum amounts are and where the payout takes place? This is in our comparison Gambling provider with Trustly.

What is Trustly and how does payment work?