Trustly Says Merchants’ Desire for Instant Payouts Drives RTP Demand
Trustly has found that merchants’ desire to provide instant payouts to their customers is driving demand for its Real-Time Payments (RTP) service. Due in part to this demand, Trustly has become one of the largest originators on the RTP network, the company said in a Wednesday (Dec. 13) press release emailed to PYMNTS. “As we drive RTP […]
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Trustly has found that merchants’ desire to provide instant payouts to their customers is driving demand for its Real-Time Payments (RTP) service.
Due in part to this demand, Trustly has become one of the largest originators on the RTP network, the company said in a Wednesday (Dec. 13) press release emailed to PYMNTS.
“As we drive RTP to the forefront of the payments industry, Trustly will strive to provide merchants with the tools they need to increase customer satisfaction and gain payment independence from cards,” Alexandre Gonthier, founder and CEO of Trustly, said in the release.
Between the second quarter and the third quarter, Trustly’s RTP volume grew 29% in transaction volume and 31% in payment value, according to the release.
The company’s growth has significantly outpaced that of the network, as The Clearing House reported that the RTP network saw 11% growth in transaction volume and 18% growth in transaction value, the release said.
With the rapid adoption of its RTP service, Trustly now accounts for close to 10% of the RTP network’s total transaction volume, per the release.
Trustly said in the press release that it will “continue to foster its adoption as RTP matures and more merchants and consumers realize its benefits.”
PYMNTS Intelligence has found that small and medium-sized businesses (SMBs) that adopt real-time payments can improve cash flow and enjoy a legion of downstream benefits, such as reducing accounting teams’ workload and limiting the risk that the businesses do not have enough cash on hand for critical expenses.
For these reasons, about two-thirds of SMBs are to some degree interested in real-time payments, according to “The Benefits of Real-Time Payments for SMBs,” a PYMNTS and The Clearing House collaboration.
Newer payment rails such as same-day ACH, real-time payments and the FedNow® Service within the United States make up a critical space to watch within B2B payments, Eric Foust, vice president of banking partnerships North America at Trustly, told PYMNTS in an interview posted in November.
“We have these faster payment rails, and there’s been a lot of analysis happening over the last several years, specifically with [real-time payments], on what the impact that they can have is,” Foust said.
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