Trustly, the global leader in Open Banking payments, partners with MX Technologies, Inc., an industry leader in Open Finance, to leverage MX’s data enhancement services as part of its Open Banking product suite. MX delivers clean and categorized transactional data to Trustly’s merchants, helping to inform decision-making and deliver personalized offers and rewards.
More than 8,300 global merchants rely on Trustly’s Open Banking platform to enable consumers to Pay By Bank. Consumers enjoy an intuitive, fast, and safe payment method, while merchants benefit from a high-converting, data-rich payment solution that significantly reduces processing costs and enhances consumer experience.
With the addition of MX Data Enhancement, Trustly’s consumer-permissioned transaction data is translated into clear and actionable information for merchants, allowing them to have a heightened understanding of consumer spending patterns. Merchants can take advantage of this augmented data to tailor marketing offers, personalize loyalty programs, and make better risk decisions.
Personalized experiences, streamlined processes, and customized offers in exchange for sharing data are now the standard and no longer the exception among consumers. By integrating MX’s best-in-class data enhancement services, merchants utilizing Trustly’s industry-leading Open Banking Payments solutions can better understand each consumer based on their linked transaction history, allowing personalized experiences to be delivered at scale.
“Data without context is meaningless for organizations and consumers. With our comprehensive suite of data enhancement services, MX turns raw, and often indecipherable, transaction data into simple, human-readable descriptions, making it easy to identify, organize, and act on financial data,” said Jim Magats, CEO at MX.
“We are continually focused on how we can enhance value for our merchants and ultimately, their consumers. With MX, we found a partner that not only delivers world-class data enhancement solutions but shares our commitment to improve consumer experiences,” shared Alexandre Gonthier, CEO, Trustly. “We’re excited to work with MX to enhance our tools so our merchants can better understand and support their customers.
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity, and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to traditional card networks at a lower cost. Today we serve 8,300 merchants, connecting them with 650 million consumers and 12,000 banks in over 30 countries. In 2022, we processed over $42 billion in transaction volume on our global network. Trustly is a multi-national payments and data solutions company, offering products across North America and Europe. In the United States, services are provided by Trustly, Inc., its local affiliates, and partners. Read more at www.trustly.com
MX Technologies, Inc., an industry leader in Open Finance, helps financial institutions, fintechs, and their consumers understand and do more with financial data. With MX, organizations can reliably connect and verify account and transaction data and surface insights to uncover revenue opportunities, better serve consumers, and grow their business. MX helps deliver personalized money experiences that improve consumer engagement and outcomes. To learn more follow us on Twitter and LinkedIn @MX or visit www.mx.com.