Trustly, the world’s leader in Open Banking payments, has joined forces with Conotoxia, a multi-currency fintech company from Poland, to provide users with a fast, safe way to transfer funds internationally directly from their bank accounts.
The partnership will allow both current and future customers more flexibility for transferring money into North America. For a limited time, Conotoxia will be offering fee-free money transfers from the US to Europe for new Trustly users––a value of up to $14 per transaction.
Conotoxia’s Service for the FinTech Industry
Prior to 2020, the money transfer industry was already experiencing a gradual shift from in-person services to easier alternatives such as new fintech mobile apps or other online digital channels.
When the COVID-19 pandemic hit, the demand for money transfer services quickly skyrocketed as consumers looked for more safe, flexible options to meet their financial needs as they stayed connected with loved ones around the world. This created an unprecedented shift toward a money transfer digital revolution that is here to stay.
Conotoxia’s innovative products have put them at the forefront for meeting the new demands of a booming market. Their success in the fintech sector reaches far beyond the realm of basic financial services. They have managed to permeate a lucrative industry that only continues to grow. Conotoxia is now a global fintech company providing currency exchange, money transfers, payments, multi-currency cards, multi-currency loans and investment services.
Despite the economic downturn brought on by the pandemic, Conotoxia thrived and further proved that there is a real demand for multi-currency services. In 2021, Conotoxia users performed 24% more currency exchange transactions than the previous year. As a result, their turnover in this category increased by 36% compared to 2020. In the money transfer category, revenue increased by 80% and their value doubled, compared to 2020.
Their main mission is to provide maximum convenience and ease for their customers on a global scale.
Aligning Payment Options for Flexibility and Security
Now more than ever, consumers want payment alternatives that create more freedom and safety around their financial choices. Conotoxia aims to meet their consumers where they are by creating new ways to cater to these needs while prioritizing a healthy mix of flexibility and security. The Open Banking payment trend only continues to rise due to some of the permanent changes brought on by the pandemic. Current statistics show that three quarters of both Americans and Canadians already directly link their bank accounts for general financial services.
The Trustly and Conotoxia kickoff promotion will give users the opportunity to transfer money directly from their bank account in a simple, fast, secure way. The open payment method takes away the hassle of entering complicated information––i.e. credit or debit cards––that can often feel inconvenient and less safe. By choosing Trustly at checkout, users will enter their bank information one time and save up to $14 per transaction through the omission of transfer fees. The promo period will run from August 10th to October 10th, 2022. The offer is to be redeemed by new Trustly users at Conotoxia.
For more information on this partnership or how Open Banking payments can help facilitate easy and secure cross-border money transfers, reach out to one of our experts.