Lenovo and Trustly Launch Secure Open Banking Checkout in Europe

Lenovo has partnered with Trustly to introduce an Open Banking payment option for customers in the UK and continental Europe. This new service aims to provide a faster, more secure payment method compared to traditional credit or debit cards.

Trustly, known for its global open-banking payment platform, will supply the technology for this initiative. Trustly’s system allows customers to pay directly from their bank accounts, significantly reducing the risk of fraud. According to Trustly, their eCommerce platform boasts a fraud rate of just 0.01%, much lower than conventional payment methods.

The integration of Trustly’s technology ensures high levels of security and data protection. Customer banking details are not stored, and data encryption is used throughout the transaction process. Lenovo will benefit from Trustly’s rapid settlement model and instant refund capabilities, enhancing both customer experience and operational flexibility.

Jussi Lindberg, Chief Revenue Officer at Trustly, expressed enthusiasm about the partnership: “We are thrilled Trustly is now available as a payment method for Lenovo’s customers. Our technology provides a simple, fast, and secure way to pay, with transaction times as low as 10 seconds.”

Angus Cormie, Head of eCommerce for Lenovo EMEA, highlighted the benefits for customers: “Offering Trustly’s Open Banking checkout service allows us to improve the checkout experience. This service provides our customers with a quick and secure payment option, enhancing their overall shopping experience.”

This collaboration between Lenovo and Trustly represents a significant step forward in providing innovative, secure payment solutions for consumers across Europe.