At Trustly, we’re always talking to our merchants to try to understand their biggest pain points. Time and time again, we hear that our e-commerce merchants are frustrated with their invoice solutions because they are either clunky, requiring customers to type in long reference numbers and receiving account numbers, or because they lose their customers after paying by invoice.
Today we’re excited to announce the launch of our latest product, Pay Your Invoice, which addresses these concerns by simplifying and automating invoice payments.
With Pay Your Invoice, you can let your customers pay their invoices directly from your site or app using Trustly’s direct bank payments. More importantly, it gives you more control over the customer relationship in the whole purchase journey.
In the traditional payment flow, customers receive an invoice by mail or email and then need to log into their online bank and manually enter long strings of numbers. But with Pay Your Invoice, customers can pay their invoice directly from your merchant portal using a Trustly bank transfer. To do so, they just click “Pay invoice,” select which of their bank accounts they wish to pay from, and sign the payment with their normal online banking authentication method, such as Mobile BankID in Sweden.
Merchants can also provide more flexible payment options to customers who have registered a digital direct debit mandate through Trustly.
After registering a direct debit mandate, customers can make payments with just one click, boosting loyalty.
Merchants can let customers schedule a payment date, giving them a convenient way to maximize their credit period and building their trust.
Merchants can let customers convert their payments to installments so money is drawn from their account in portions.
More convenient refunds
Traditionally, refunds with invoice payments are messy as they require the customer to look up their bank details and send them to the merchant. In some cases, they even receive physical check by post, which they then have to cash somewhere. Trustly can issue instant refunds directly back to the customer’s bank account without manual input.
For merchants, Pay Your Invoice brings many benefits:
Optimized post-purchase experience
The optimized payment flow drives customers back to the merchant's site, instead of the bank's site, which presents new upselling opportunities.
Automated reconciliation ensures the correct reference number and amount, which reduces losses associated with processing invoices.
Automated settlement report
Trustly receives and reconciles transactions and then automatically settles them to the merchant’s bank account.
Efficient refund handling
Not only does efficient refund handling better the customer experience, but it increases operational efficiencies. If a customer pays by invoice and then wants a refund, merchants often need to send physical checks. With Pay Your Invoice, you can offer instant refunds straight to your customers’ bank account.