Flywire Expands Trustly Partnership to Deliver Open Banking Payments Across the U. S. and Canada
Flywire Corporation, a global payments enablement and software company, today announced expanded support for open banking payments in the U. S. and Canada with Trustly, allowing payers to conveniently authorize secure, large domestic and cross-border payments directly from their bank accounts and in their local currency.
Flywire Corporation, a global payments enablement and software company, today announced expanded support for open banking payments in the U. S. and Canada with Trustly, allowing payers to conveniently authorize secure, large domestic and cross-border payments directly from their bank accounts and in their local currency. The expanded partnership builds on years of successful collaboration between Flywire and Trustly across Europe while expanding support across North America, and serves as evidence of Flywire’s unique capability to streamline complex, global banking compliance, such as the distinct regulatory and technical open banking landscapes in the U. S. , Canada and Europe. When choosing to pay with Trustly Pay by Bank, payers simply use their existing online bank login credentials during checkout – with no need to re-enter bank account information to complete the transfer. Combined with Flywire, the partnership offers a secure and transparent payment option for high-value bank transfers. Flywire and Trustly have partnered since 2017, first launching in Europe before expanding support across additional markets over time. "Our clients tell us their payers want modern, digital payment experiences that eliminate friction. This expansion delivers exactly that - a fully online payment option that improves accuracy, reduces payment failures, and gives payers real-time visibility into their transactions,” said Kate Moran, Vice President of Global Payments at Flywire. “We're applying the open banking infrastructure we've successfully scaled across Europe to North America, enabling our clients to confidently offer their payers a proven experience. "Trustly and Flywire Eliminate the Friction of Traditional Wires and ACHRather than manually typing in routing and account numbers, payers securely authenticate and log into their bank accounts via Trustly's interface. This improves accuracy and saves time, while offering a modern, user-friendly experience. Payers benefit from the same clear instructions Flywire provides at the time of transaction, and transparency on the status of the transaction.