Payments with Trustly

[playtime chris]

Here you can write everything about Trustly!

[playtime slotti]

Somehow Trustly doesn't work for me. I don't even know what criteria have to be met and what exactly Trustly checks.

[Glumbi]

Does the bank itself not work for you? Not all of them are there as far as I know. Trustly has worked for me without any restrictions so far.

[playtime slotti]

Does the bank itself not work for you? Not all of them are there as far as I know. Trustly has worked for me without any restrictions so far.

My bank is listed and I also get to log into online banking. Then it is checked briefly and then an error message appears. Unfortunately, Trustly Support is also only available in English, which doesn't make things difficult for me, but might be a problem for other customers, especially when it comes to banking issues. Now you've got screenshots and confirmations, let's see what comes out of it.

[playtime slotti]

After talking to my bank, the problem is now clear. My bank, Commerzbank, blocks Trustly for security reasons. It's frightening and thought-provoking why the bank blocks it at all. The only thing that matters here is the security of the customers, because otherwise the bank bears the risk in the event of problems. The moment you are asked to enter your credentials, Trustly has access to all information about the bank status and also to personal information.

Some banks leave the risk to the customer alone, which has often led to problems. For this reason and to protect its customers, the bank blocks transactions to companies where bank credentials are requested.

Trustly will certainly see things differently and refer to their license from the Swedish tax authority, approval as a payment provider and the seal of approval from TÜV Saarland. But the fact is that Trustly should remove the listed Commerzbank from their list of banks with which they allegedly work. There may be other banks that have a similar view. The list needs to be updated because Commerzbank itself has pointed this out.

Of course, this means for me that I cannot use Trustly, just like Sofortüberweisung (Klarna) where it is also bank-dependent and blocked for security reasons. In general, we should perhaps be even more sensitive and careful with our data.

[Glumbi]

I had almost thought of something similar, since you enter your complete access data on the Trustly website. To be honest, I hadn't had any concerns until now, but probably also because I've never had any negative experiences with it.

My bank, on the other hand, carries out the payments without any problems. But that's true, if a bank is no longer involved, it should be removed from the directory.

[playtime slotti]

It's not my intention to badmouth it just because I can't use it. That's why it bothered me and I researched again and came across the contact of the press spokesman here in Germany. I then contacted him by phone to discuss the situation. In our language it is also much easier than in English. It was a very nice and insightful conversation. We talked about a few points, including Commerzbank's feedback and Trustly's security.

Of course you can also find some negative reviews on the net that cannot be dismissed out of hand. These mostly relate to transactions that have not been credited.

There are probably different views and statements, but Trustly has to discuss this with Commerzbank. In any case, that's reason enough for the spokesman to pass it on for clarity. Either it stays that way and has to be taken off the list or Commerzbank will allow it in the future, which I don't believe in.

As far as security is concerned, there are umpteen transactions that have to be checked in a matter of seconds. So on a screen it looks something like a matrix, i.e. a lot of numbers. It is actually impossible to see any numbers and information from individual customers. There is also the option for banks to limit the visibility of customer accounts by companies such as Trustly through interfaces. In all cases, a check is made to ensure that the account has sufficient funds.

As mentioned, Trustly is also licensed by the Swedish Bafin, Trustly also complies with the EU directive and is approved as a payment provider (PSP). The security has been repeatedly confirmed by German courts.

Since the summer of 2018 there has also been a general manager who is responsible for the DACH market and works with a small team here in Germany. I'm still waiting for feedback from Trustly regarding the content of the conversation with the spokesman.

[playtime slotti]

Today I had a conversation with the General Manager, which was much more intensive for me than yesterday. I can't give you the content here because it's just too extensive and a lot was new to me.

On the subject of security, I would like to mention again that the data is all cryptologically encrypted. That means secure payments and reliable service. Trustly is based on the PSD2 directive and should after EU law make payment transactions more convenient, safer and cheaper. This of course removes the monopoly on access to account data from the banks. According to this, banks cannot refuse or block the service.

The statement that I received from the Commerzbank employee was probably not correct or indicates incorrect information, because transactions are carried out with Commerzbank. The Commerzbank is listed in the iframe with bank codes that you can select. There may be a problem with using the Pay'n Play system. It must now be checked internally in the Trustly system whether an interface is not working properly that I cannot use it.

[Glumbi]

Okay, at the Postbank where I am there are also several bank sort codes in the Trustly system, if I accidentally selected the wrong one then it didn’t work to log in with my access data either.


But it's really cool that you get someone like that for a conversation.

[playtime slotti]

Yes, I thought so too and to be honest I didn't expect it at all. My interlocutor is also an absolute expert because he has been working in the field for several years. He also previously worked for Sofortüberweisung or Klarna as it is now called. Anyway, the conversation was very interesting.

The bank sort code is also listed under Commerzbank, mine isn't there at the moment and that's what we need to find out now. There are a lot of sort codes (branches) at the banks, which are also divided into different regions. These are branches that are up to date and others may not be.

It's hard trying to explain everything here. Through this new policy (Payment Services Directive) there is also a certain amount of competition and competition and the banks don't like that very much, although they actually benefit from it. A service like Trustly ensures that customers use their online banking, i.e. their banks. But the banks, of course, think they are taking money, which is complete nonsense.

Banks are now approaching Trustly and not the other way around. That Pay'n Play The system is also fairly new and if there are problems like mine, then it will be at some interface. You have to imagine that there are doors that need access authorization/keys to open them. When you try to enter the room, certain characteristics are then queried by the system. If one of these features cannot be queried for the check, perhaps because there is no tick somewhere in the system itself, then this inevitably means that the door stays closed or you stay in a room arrives which is empty. Thus it can lead to refusals or blocking.

Funds at Trustly do not go directly to the merchant either, but go through an account at Trustly. With online shopping, for example, there are also returns or returns and that makes it easier for retailers to authorize Trustly and say yes you can send the money to the customer than it is through her own portal. Trustly also has bank accounts ready to handle this.

If I did get around to using this, I would do it and not worry about it being safe. That convinced me, because the banks themselves also have the option of restricting access to an account if they want to and only providing the relevant data that is necessary for the process.

As a customer, I have to authorize it with a PIN, TAN or 2-way authentication. I also have to do that for a transfer. If banks come here now and let's say block this, then that would also mean that they tell their customers which services they can and can't use. This paternalism simply has to stop. You can't justify that by saying "we want to protect our customers".

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