Alibaba is China’s biggest online commerce company that offers consumer-to-consumer, business-to-consumer and business-to-business sales.
Alibaba customers to get bank payments via Trustly & Ingenico
Customers in 16 European countries are about to get an easier way to pay when buying on Alibaba – Trustly, an online banking payments company, have a new partnership with Alibaba through Ingenico to provide an additional payment method for Alibaba’s European buyers.
During the initial stage, Alibaba will launch Trustly’s bank payments in 16 European markets. Including the UK, other countries are Austria, Belgium, Estonia, Finland, Germany, Ireland, Italy, Latvia, Lithuania, Netherlands, Poland, Portugal, Slovakia, Slovenia, and Spain.
Online banking payments are one of the fastest-growing payment methods in Europe and are expected to surpass credit and debit cards in popularity for ecommerce purchases by 2024. Trustly’s fast, simple and secure online transactions fulfill European’s growing demand for paying directly from their bank account, as opposed to credit. This is especially likely to be welcomed in German, where bank payments are by far the preferred option, beating even PayPal as a preference when paying online.
Merchants benefit from receiving real-time confirmation when the payment is completed, while Trustly’s unique refund functionality reduces costs and administrative complexity when dealing with returns.
“Alibaba.com is a force to be reckoned with in e-commerce and we are truly delighted to be one of its chosen bank payment providers for its European customers. Through Ingenico, we can help Alibaba.com offer a localized payment mix, which is crucial for converting new customers and improving loyalty and satisfaction among existing ones.”
– Oscar Berglund, CEO, Trustly