From card-dominant to Pay by Bank with Trustly

When a Fortune 50 telecommunications company takes on a mission to transform the way millions of its customers pay their monthly bills, the stakes are high. For this telco giant, the objectives were mission-critical and the path to success focused on the customer experience. The company wanted to transform the way millions of its customers pay their monthly bills by switching from expensive card payments to Pay by Bank.

This leading telco needed to provide an easy way for their customers to use Pay by Bank without any of the friction that comes with ACH payments. The overwhelming majority of customers don't use checkbooks anymore, and they don't have easy access to their bank account and routing numbers.

• ACH sign-up was not easy for their customers
• The cost of card payment acceptance was too high
• Autopay enrollment was stagnant

By choosing Trustly, this top three telco used Open Banking to drive better payments and sign-ups, breaking a decades-long trend of debit and credit cards owning the majority share of wallet for their customers. Trustly's Pay by Bank solution ignited auto-pay enrollments with industry-leading incentives, making it easy for customers to save with discounts.

• Create an all-around better payment—The goal was to make their preferred payment, ACH, the dominant payment in their mix to lower payment costs. Knowing that Pay by Bank was the best path to ACH, they passed the savings to their customers with a monthly discount for those who enrolled in autopay (APO) using Pay by Bank.‍
• Provide a seamless UI experience—They champion customer-first programs, and a great user experience on the payment page is non-negotiable. Eliminating friction for customers who want to pay with their bank accounts was critical to ensuring conversion and payment completion.‍
• Move beyond a single use case—As one of the most innovative companies in the world, it was important to choose an Open Banking partner that aligned with their core values and could grow with them as they pursued additional use cases to deliver even more value to their customers.

• $60M+ in interchange costs eliminated with Trustly—The biggest cost-savings benefit happened by simply moving most of the payment volume from expensive card payments to Pay by Bank ACH payments.
• Over 65% autopay enrollment for their subscribers. Trustly’s Open Banking solution ignited auto-pay enrollments with industry-leading incentives, making it easy for customers to save with APO discounts.
• Payment mix flipped from card-dominant to ACH-dominant—"Leveraging Trustly, for the first time ever, we have more ACH accounts in our wallets than cards."
• New payment flows in development—"With Trustly, we're able to confidently and securely enter new payment flows and venues that weren't available before."