Trustly adds instant payouts to US offerings
- Trustly's offering, in partnership with Cross River Bank, allows businesses to complete near-instant disbursement of funds through its platform.
- Industries that can benefit from the offering include retail, marketplace, insurance, and sports betting companies, says Trustly.
Swedish fintech Trustly announced earlier this week that it has extended its product range in the US with the launch of Instant Payouts. Trustly, in partnership with Cross River Bank, will offer US businesses the ability to complete near-instant disbursement of funds through its platform. Businesses — including retail, marketplace, insurance, and sports betting companies — can use instant payouts to finish transactions faster and drive customer satisfaction.
Trustly’s proprietary technology platform enables instant payouts to bank accounts across currencies and geographies, with a network of 6300 connected banks in over 30 countries.
Alice Chen, vice president of product at Trustly, believes instant payouts will be rewarding for their merchant partners, by powering faster payout and hence improving customer satisfaction. “Traditionally, consumers have had to wait between 3 and 5 days to receive a payout, which is unacceptable in today’s on-demand world,” she said.
The offering in the US is powered by Cross River Bank, and made possible by the bank’s participation in The Clearing House built real-time payment rail, the RTP network. The bank’s API-based platform connects directly with Trustly’s network and provides the backend technology to support instant communication with vendors, and process RTPs.
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