TL;DR
Trustly is an open banking payment provider that allows users to make secure, direct bank transfers, bypassing intermediaries like credit cards and digital wallets. It supports payments from over 12,000 banks across 33 countries.
Ivy is a great alternative to Trustly, offering instant, low-cost payments and enhanced security through smart routing, real-time transaction processing, and Strong Customer Authentication to reduce fraud.
Other top alternatives to Trustly include TrueLayer, Yapily, GoCardless, and Tink, all of which provide seamless open banking solutions with features like instant payments, recurring transactions, and financial data access.
Trustly is a leading online payment provider that enables users to make direct bank transfers quickly and securely. As digital transactions continue to evolve, businesses and consumers are increasingly seeking efficient, cardless payment solutions. In this guide, we’ll explore what Trustly is, its features, fees, and the best Trustly alternatives to consider in 2025.
What is Trustly?
Trustly is an open banking payments provider that enables consumers to make online payments directly from their bank accounts, bypassing traditional (and expensive) intermediaries like credit cards and digital wallets. Trustly boosts over 12K banks in its network and caters to users in 33 countries.
Trustly Features
Trustly has a comprehensive open banking payments platform with the following features:
Instant Payments: Direct account-to-account payments between merchant and user bank accounts that settle in seconds.
Deposits: Allows users to make instant deposits directly from their bank accounts, increasing conversion rates and reducing friction.
Payouts: Businesses can transfer funds to their customers instantly in any European currency.
Customer Data: Strengthen KYC and compliance with customer data connected to every transaction.
Recurring Payments: Set up Direct Debit mandates, eliminate manual data entry and minimize payment failures.
Trustly Fees
For end users: Trustly does not charge end users any fees. However, in certain cases, non-sufficient funds (NSF) fees may be levied.
For merchants: Trustly has custom fees for merchants. Reach out to them for more information.
Best Trustly Alternatives in 2025
While Trustly is a popular open banking payments provider, several alternatives exist. We break down the best ones below.
Ivy
Ivy is redefining digital payments with its Open Banking-based solutions that cater to businesses of all sizes. With a focus on instant transactions, lower fees, and security, Ivy is a great alternative to traditional card and wallet-based payment methods.
Benefits
Coverage Champion: Ivy partners with top-tier local banks and Open Banking providers, ensuring businesses maximize their bank coverage.
Conversion Champion: With advanced smart routing technology, Ivy selects the best local Open Banking infrastructure for each transaction in real-time, achieving conversion rates of over 90%.
Enhanced User Experience: Returning customers benefit from pre-populated banking details, eliminating the need to select their bank repeatedly, thus streamlining the payment process.
Fraud Reduction: Ivy leverages Strong Customer Authentication (SCA)-compliant Open Banking payments to eliminate chargeback fraud.
Products
Instant Payments: Businesses can accept low-cost, real-time payments directly from customer bank accounts.
Recurring Payments: Ivy facilitates flexible, frictionless recurring transactions that are more secure than Direct Debit and cheaper than card payments.
Instant Payouts: Businesses can offer fast, reliable payouts to their customers with instant transaction processing.
Fees
Ivy offers custom pricing. Get in touch with us for more information here.
TrueLayer
TrueLayer is a UK-based open banking provider that enables businesses to accept instant bank payments. It connects with major banks across Europe, allowing users to initiate transactions seamlessly. Merchants benefit from lower processing costs compared to traditional card payments. TrueLayer’s platform supports authentication and data-sharing services. Its compliance with open banking regulations ensures secure and transparent transactions for both businesses and customers.
TrueLayer’s products include instant payments, recurring payments and instant payouts, along with access to open banking data and account verification.
Yapily
Yapily is a powerful open banking solution that provides direct access to over 2000 banks across Europe through its API. It enables businesses to initiate payments and retrieve financial data securely.
Yapily’s products include instant payments, variable recurring payments, bulk payments, customer data, account validation, and Yapily Connect, which gives businesses secure and regulated access to open banking.
GoCardless
GoCardless is a payments company that enables people to pay directly from their bank accounts, bypassing intermediaries like credit cards and digital wallets. Businesses can automate payment collection, helping them save time and money.
GoCardless offering includes recurring payment collection via Direct Debit, International Payments, open banking payments including one-off and VRP (variable recurring payments), and payer verification using open banking.
Tink
Tink is an open banking platform that provides payment and financial data solutions. It connects with over 6,000 banks across Europe, enabling businesses to access real-time financial data and initiate direct bank payments. Tink’s payment solution ensures faster and more secure transactions, reducing reliance on traditional card networks.
Tink’s products include instant bank payments, VRP, payouts and risk management. It also offers open banking data (including transaction histories and liabilities), account verification, risk insights and financial management.
FAQs
Is Trustly Safe?
Yes, Trustly is a secure and regulated payment provider. It operates under strict financial regulations in Europe and uses strong encryption protocols to protect transactions. Since payments are made directly from bank accounts, there is no need to store sensitive card information, reducing the risk of fraud.
How Does Trustly Work?
Trustly acts as a bridge between a user’s bank and the merchant. Customers select Trustly at checkout, log into their online banking, and approve the payment. The transaction is processed instantly, with funds transferred directly from the customer’s account to the merchant without the need for cards.
How Long Do Trustly Withdrawals Take?
Trustly withdrawals are typically processed instantly or within a few hours. However, the exact timeframe depends on the user’s bank and the merchant’s processing policies. In some cases, it may take up to 48 hours, but most transactions are completed quickly.
What is Trustly Used For?
Trustly is used for various online transactions, including e-commerce payments, gaming deposits, travel bookings, and financial services. Businesses leverage Trustly to enable secure and instant bank transfers, eliminating the need for traditional payment methods like credit cards and digital wallets.
Additional Resources:
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Ivy GmbH or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional. We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
