Trustly and MoneyGram join forces in Europe

20 Mar 2024

Open Banking payments provider Trustly has partnered with global fintech MoneyGram to introduce cardless payments to millions of MoneyGram users across Europe.

When using MoneyGram Online to send international money transfers, users will now have the option to make payments directly from their bank accounts, removing the need for manual entry of card information on the app, thanks to Trustly’s Open Banking platform which powers the service.

Jussi Lindberg, chief revenue officer at Trustly Europe, said: “We’re delighted to partner with MoneyGram to offer our payment product to their users. We’ve long been impressed with their ability to offer fast, digital bank transfer payments well ahead of the general adoption curve.

“With this partnership, we look forward to giving consumers the ability to transfer money with ease, leveraging our collective cross-border capabilities and market-leading reliability.”

Trustly, known for its proprietary data engine Azura, offers financial institutions a modern infrastructure that enables near-instant payments and best-in-class know-your-customer (KYC) capabilities.

It counts Dell Technologies, T-Mobile, Lyft, and now MoneyGram among its clients.

MoneyGram’s chief product officer, Sara Vassar, added: “For over eight decades, MoneyGram has been at the forefront of innovative, secure and convenient global money transfer solutions, meeting the dynamic needs and preferences of our customers.

“We’re excited to partner with Trustly to continue to streamline the money transfer process for more consumers across Europe.”

Initially available in select European regions, the partnership has recently expanded to include the UK and Germany within the past month.

Trustly has formed a number of partnerships so far this year, including with MX Technologies to leverage its data enhancement services in February.

This month, Trustly revealed a partnership with Socure, a provider of artificial intelligence for digital identity verification, sanction screening, and fraud prevention, to deliver “streamlined” onboarding and Pay by Bank services for merchants and fintechs via a new solution.