Trustly to power payments for Folksam’s new student insurance
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Stockholm, Sweden, 24 April 2020 – Trustly is pleased to announce a new partnership with Folksam, one of the largest insurance companies in Sweden. Together, Folksam and Trustly will make it more convenient for students to pay for their insurance and receive their claims payouts directly to and from their online bank account.
Today’s students are digital natives, and so to cater to their preferences, Folksam has developed a digital-only student insurance in its FutureLab, its newly launched innovation workshop.
Through the partnership, Folksam customers will benefit from Trustly’s digital Direct Debit (autogiro) product to make regular insurance payments. In the case of a claim payout, customers will also be able to receive the compensation instantly and directly to their bank account using Trustly.
Johan Nord, Chief Commercial Officer at Trustly, says: “Folksam has long been one of Sweden’s most prominent insurance companies, and we are proud to be able to help it address a digitally native segment with an intuitive and entirely digital recurring premium payment and claims payment process. Trustly’s payment products are highly optimized for mobile, which makes our solution a great match for Folksam’s needs.”
About Trustly
Founded in 2008, Trustly is the global leader in Online Banking Payments. Our account-to-account network bypasses the card networks, letting consumers make fast, simple and secure payments to merchants directly from their online banking accounts. With support for more than 6,300 banks, roughly 525 million consumers across Europe and North America can pay with Trustly. We serve many of the world’s most prominent merchants within e-commerce, financial services, gaming, media, telecom and travel, which all benefit from increased consumer conversion and reduced operations, fraud and chargeback costs.
Trustly has 400 employees across Europe, the US and Latin America. We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.