Lenovo and Trustly Partner for Secure Open Banking Payments
Lenovo, the global technology giant, is rolling out a new Open Banking at checkout service for its customers in the UK and continental Europe. This innovative payment method, provided by Trustly, a leader in open banking payments, promises to offer customers a fast, secure, and convenient way to pay directly from their bank accounts.
Enhancing Security and Reducing Fraud
Trustly’s e-commerce platform boasts an impressively low fraud rate of 0.01%, significantly lower than traditional payment methods such as credit or debit cards. This technology ensures high levels of security by utilising data encryption in transit and never storing customer banking details. Trustly also employs the highest encryption standards, further protecting customer data while enhancing their payment experience.
Streamlined Checkout Experience
Jussi Lindberg, Chief Revenue Officer at Trustly, expressed excitement about the partnership: “We are thrilled Trustly is now available as a payment method for Lenovo’s customers. Our technology provides customers with a simple, fast, and secure payment method. Using Open Banking means payment speeds are as low as 10 seconds, making the checkout significantly quicker. We’re excited for Lenovo’s customers to use our technology for an enhanced payment experience.”
Benefits for Lenovo and Its Customers
Integrating Trustly’s Open Banking technology will bring multiple advantages to Lenovo. It offers the fastest possible settlement and instant refunds for customers, giving Lenovo greater flexibility in its payment system. Additionally, this technology comes at a lower cost than traditional credit and debit card payments, benefiting both Lenovo and its customers financially.
Commitment to Innovation
Angus Cormie, Director and GM, EMEA eCommerce, Lenovo, highlighted Lenovo’s commitment to innovation: “We’re always looking for ways to transform our payment experience with innovative technology. Offering Trustly’s Open Banking checkout service allows us to improve the checkout experience for our customers. The service will give our customers more choice with the option of using this quick and secure technology when making purchases.”
About Trustly
Founded in 2008, Trustly has rapidly become a global leader in open banking payment solutions. With a mission to make online payments seamless, Trustly connects consumers and merchants through an innovative payment platform that processes transactions in real-time, offering speed and security. Trustly partners with major brands like PayPal, eBay, and Hargreaves Lansdown, serving over 9,000 merchants in over 30 markets.
About Lenovo
Lenovo, a global technology powerhouse with a revenue of US$57 billion, is dedicated to delivering smarter technology for all. Ranked #217 in the Fortune Global 500, Lenovo serves millions of customers daily in 180 markets. The company’s portfolio includes AI-enabled devices, infrastructure, software, solutions, and services. Lenovo’s commitment to innovation drives its mission to build a more equitable, trustworthy, and smarter future for everyone.
Conclusion
The partnership between Lenovo and Trustly represents a significant step forward in enhancing digital payment experiences. By integrating Trustly’s secure and efficient Open Banking technology, Lenovo not only improves the checkout process for its customers but also sets a new standard for payment security and speed. This collaboration underscores both companies’ dedication to innovation and customer satisfaction, paving the way for a smarter, safer digital future.
