International Finance
Interview Magazine May-June 2019

What is the merchant value proposition as Sweden’s Trustly and France’s Ingenico combine forces?

What is the merchant value proposition as Sweden’s Trustly and France’s Ingenico combine forces?
The partnership aims to bring a sea change to e-commerce payments and refunds in 26 European countries

Through the partnership between Trustly, a Swedish fintech company and Ingenico a French company focused on secure electronic transactions, their customers will be able to make payments directly from their bank accounts, which improves the merchant value proposition. This is especially true for countries such as Sweden, Finland, the Netherlands, Poland, and Germany, where electronic payments are preferred. The level of convenience promised for both merchants and customers is largely possible because of Trustly’s relationship with more than 3,000 banks in Europe. In a conversation, Nick Tubb, vice president of commercial affairs, Ingenico ePayments, tells us what the partnership means to the e-commerce sector across Europe.

What does this collaboration mean to customers and merchants using Ingenico’s payment platform?

The collaboration will see Ingenico expand its range of online payment solutions and enhance its position in 26 European countries, with online banking payment capabilities now integrated into Ingenico’s payment platform. Ingenico’s customers can now get paid through a quick, seamless, and secure bank transfer, receiving real-time confirmation after the checkout process has been completed. Merchants and consumers will also benefit from Trustly’s unique refund functionality.

Can you elaborate on Ingenico’s online payment solutions?

Ingenico offers over 150 payment methods and currencies and delivers a fully localised payment experience to customers anywhere, on any device. With our full service model, merchants are able to collect payments from around the world without the need for a local bank account or legal entity. One single integration with our global payment platform connects merchants to markets around the world.

Through this, will merchants be able to boost conversion rate? If so, how?

Definitely. Allowing e-commerce customers to make payments directly from their bank account improves the payments experience, leading to higher conversion rates.

Nick Tubb
Nick Tubb
Vice President, Commercial Affairs
Ingenico ePayments

How will users benefit from Trustly’s unique functionality that enables swift and easy refunds?

Trustly’s solution removes administrative complexity for merchants while allowing consumers to get fast refunds, helping cut chargeback rates. For the majority of the banks it works with, Trustly is able to refund the funds instantly, leading to higher basket values on the original order.

How distinct and advanced are your offerings compared with the existing platforms?

Ingenico’s platform connects merchants to their customers through over 150 e-commerce payment methods, including all major card schemes and alternatives. Our teams tailor the payment mix to the specific needs of each region, so regardless of the market, we have the payment methods that meet customers’ expectations and can be optimised for top line results.

What has been the feedback so far?

We are currently working with a number of international customers and the integration with Trustly has been very well-received.

In your views, what are the necessary changes that need to be introduced to advance online payments?

In order to advance online payments, there needs to be a focus on:

  • Inclusionenabling as many consumers as possible to use their preferred payment method
  • Instant payments including real-time confirmation
  • Automation of the payments processes to reduce the number of steps required to complete a purchase

Our goal is to offer more choice in payments and a deeper integration of e-commerce into consumers’ lifestyles.

How secure is the payments sector with the rising cyber threats?

As technology becomes increasingly sophisticated, so do fraudsters, posing new and ever-evolving challenges to fraud prevention managers and merchants. Both online merchants and shoppers should be confident that they are operating in a safe environment and are protected against fraud. Our industry-leading fraud detection tools and experts bring over 20 years of industry and regional expertise, and we work closely with merchants to develop, implement, and manage a holistic fraud offering that includes prevention, detection, and management.

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