Convenience industry e-commerce provider Vroom Delivery has partnered with Trustly, a global leader in online banking payments, to allow consumers to pay directly with their bank accounts when ordering online. Doing so will cut the average processing fees typically paid to credit card networks by more than half.
When customers check out on the Vroom platform, they will now have the option to pay directly with a bank account rather than entering in credit or debit card numbers, downloading an app or creating a new account. No bank account or routing numbers are required. Rather, consumers simply log in to their online bank account via Trustly’s secure interface — not sharing any bank credentials directly with Vroom — making the process extremely safe and much faster than the traditional online checkout experience.
With over 6,300 banks in Trustly’s network, over 99% of US consumers are able to pay with Trustly today. Furthermore, in addition to dramatically lowering transaction fees typically paid by stores when utilizing credit card networks, Trustly also reduces chargebacks due to their sophisticated fraud prevention technology, dramatically lowering the risk for both retailers and consumers.
“We are always looking for ways to provide value to stores on the Vroom platform,” noted Vroom Delivery CEO John Nelson. “We believe this partnership will benefit retailers utilizing Vroom not only by lowering transaction costs, but also reducing risk of fraud. We are looking forward to rolling this feature out across our entire network of stores.”
Trustly Chief Business Officer Craig McDonald explained that Vroom knows the importance of constantly innovating in its customer journey. “Trustly is proud to contribute to this by delivering a convenient payment experience that also helps Vroom retailers to significantly reduce their own costs and fraud risk,” said McDonald.
For a limited time, Trustly will also be co-funding a campaign offering stores’ customers on Vroom up to $5 cash back on their orders to use Trustly when checking out in order to speed up adoption. Retailers can contact Vroom Delivery for more information on the offer.
Founded in 2008, Trustly has more than 600 employees across Europe, North America and Latin America serving 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries. In 2020, Trustly processed over $21 billion in transaction volume in its global network.
