Today Trustly, the global leader in Online Banking Payments, launches Instant Payouts in the United States.
In partnership with Cross River Bank, Trustly’s technology platform enables US businesses to provide their US customers with near-instant payouts to their bank accounts.
Trustly has been offering Instant Payouts to businesses in Europe for more than a decade, and now the company is thrilled to be extending its offering into the US, made possible by its relationship with Cross River, an early participant in the RTP® network, a new real-time payments rail built by The Clearing House. Cross River’s API-based platform connects directly to the network and provides backend technology to support advanced capabilities and enhancements for its partners. Businesses using Trustly’s Instant Payouts can fund payments directly with Cross River and the bank will send RTP payments on behalf of these businesses to their customer’s bank accounts at other RTP participants.
For businesses, Trustly’s Instant Payouts can drive increased satisfaction and retention among their customers, and also enable funding of payments via the product’s 24/7/365 withdrawal system.
The product will now be available for US businesses such as trading companies, insurance companies, sportsbooks and marketplace providers that want to offer disbursements instantly to their customers’ bank accounts through RTP payments sent by Cross River Bank on behalf of the businesses.
Alice Chen, Vice President, Product at Trustly, says: “Our customers asked and we listened. We’re now thrilled to be able to deliver Instant Payouts to our loyal customer base, in addition to our payment and data services products that they already love and trust. This cutting edge innovation wouldn’t be possible without Cross River Bank and The Clearing House’s RTP network.”
Keith Vander Leest, Director of Payments, Cross River Bank, says: “Cross River is always looking for ways to power partners and provide them with new opportunities as they grow to serve millions of end users. We’re proud to be part of this strategic partnership with Trustly that will benefit merchants operating across a variety of industries, including trading, insurance, sportsbetting and marketplaces.”
Bijan Chowdhury, Senior Vice President of Technology and Innovation at The Clearing House, says: “The RTP network provides a platform for financial institutions and their corporate users to create innovative new payment products for their customers. Trustly’s partnership with Cross River Bank to deliver Instant Payouts to US businesses and Cross River Bank’s use of the RTP network to send instant payments to the the businesses’ customers illustrates the power of the RTP network to boost innovation in the payments industry.”