Trustly partners with Latvian national airline airBaltic

Trustly, a European provider of cross-border payments, has partnered with Latvian national airline airBaltic.

The partnership will enable airBaltic’s customers to make online purchases for tickets and services directly from their bank account, using digital authentication methods supported by customers’ banks and facilitated by Trustly’s payment service.

Trustly’s cross-border online banking payments are available for airBaltic’s customers in the UK, Sweden, Germany, Estonia and Poland, with plans to roll the new payment system out to six more markets during the first half of the year.

Mike Parkinson, director of Travel at Trustly, said: “We are delighted to partner with airBaltic to deliver an immediate, localised payment proposition in both its home markets and developing markets on the airBaltic network. With the vast majority of consumers now researching and buying their flights online, it’s crucial for travel websites and online merchants to provide clear pricing and secure payment methods tailored to their customers’ preferences or they face seeing them head elsewhere.”

Founded in 2008, Trustly offers cross-border payments to and from consumer bank accounts at over 3300 banks in 29 European markets and connects businesses and consumers within e-commerce, travel, gaming and financial services.

The company’s partners include KYC platform iSignthis, online payment business Fondy, regulated payment institution Lemon Way, mobile payment and ticketing solution PayiQ and IT services company Tieto.

Trustly is liable to the user for transactions executed through the Service to the extent set out in the Swedish Payment Services Act (2010:751). The legislation protects customers in refunds, meaning customers are entitled to a full refund of any payment that has been taken in error, and payment cancellations, meaning customers can cancel an outgoing Autogiro payment at any time by contacting their bank.

Last year, more than $11.95bn was invested across the global Payments and Remittances market according to data by FinTech Global. The second quarter of the year saw the most capital invested in 2017, with over $5bn invested over 43 deals.

Copyright © 2018 RegTech Analyst

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