Trustly and MoneyGram launch cardless payments in Europe

Trustly and MoneyGram International have partnered to enable millions of MoneyGram users in Europe to send cardless international money transfers.

The partnership enables users to pay directly from their bank accounts when sending money internationally through MoneyGram Online (MGO), the companies said in a press release on Wednesday (March 20).

The service is now available in some European countries, including the UK and Germany, according to the release.

“With this partnership, we look forward to making it easier for consumers to send money by leveraging our comprehensive cross-border capabilities and market-leading reliability.” Jussi, Chief Revenue Officer, Trustly Europe Lindberg said in a release.

This cardless payments capability is powered by Azura, Trustly’s proprietary data engine, which provides financial institutions with a banking payments infrastructure that includes near-instant payments and know-your-customer (KYC) capabilities, according to the release. .

According to the release, these features have been added to MoneyGram’s financial technology that connects communities around the world.

For MGO users, the new service eliminates the need to manually enter card information into the app, the release states.

“For more than 80 years, MoneyGram has been at the forefront of innovative, secure and convenient global money transfer solutions that meet the dynamic needs and preferences of our customers,” said Sara Vasser, MoneyGram Chief Product Officer. said in a release. “We are excited to partner with Trustly to continue streamlining the money transfer process for more consumers across Europe.”

PYMNTS Intelligence finds that bank payments, also known as account-to-account (A2A) payments, are gaining popularity among consumers.

According to the PYMNTS Intelligence and AWS joint study “Tracking the Digital Payments Takeover: Consumer Familiarity Controls Account-to-Account Payment Growth,” 36% of consumers in the U.S. use this payment method.

Consumer satisfaction with bank payments is determined by the convenience, simplicity, ease of use, security and speed of the payment method, the report found.

In another recent development in this area, Klarna announced on Thursday (14 March) that it is now offering payments using Open Banking in the UK, allowing consumers to pay directly to Klarna from their bank accounts. announced.

In February, Dwolla added open banking services that allow medium to large enterprise-sized businesses to offer fast and secure A2A payments through Dwolla’s application programming interfaces (APIs).