Lenovo launches Trustly open banking at checkout in UK and Europe

Lenovo is launching a new open point-of-sale banking service for its customers in the UK and continental Europe.

The payment technology will be provided by Trustly. Lenovo is offering the new technology to its customers as a fast, easy and safe way to pay. The service will provide customers with an alternative payment method that is less susceptible to fraud compared to other forms of payment such as credit or debit cards.

Trustly data shows that its e-commerce platform has a fraud rate of 0.01%, significantly lower than other payment methods. The payment technology is more secure compared to traditional payment methods because it allows customers to pay for Lenovo products and services directly from their bank account. It will be integrated and operate with a high level of security, ensuring that customer data is protected while improving their payment experience.

Trustly uses data encryption during transmission and customer bank details are never stored, which increases security

Lenovo will leverage Trustly’s unique collection model, which offers fast settlement and instant refunds to customers, giving Lenovo greater flexibility in its payment system. The technology is also available at a lower cost than traditional credit and debit card payments.

Jussi Lindberg, Chief Revenue Officer, Trustly, commented: “We are delighted that Trustly is now available as a payment method for Lenovo customers. Our technology provides customers with a simple, fast and secure way to pay. Using Open Banking means that payment speeds are as fast as 10 seconds, significantly speeding up the checkout process. We are excited that Lenovo customers will be able to use our technology to enhance their payment experience.”

Angus Cormie, Head of eCommerce, EMEA Lenovo, said: “We are always looking for ways to transform our payments experience with innovative technology. Offering Trustly’s Open Banking Checkout service allows us to enhance the payments experience for our customers. This service will give our customers more choice by enabling them to use this fast and secure technology when making purchases.”

“Lenovo launches Trustly open banking for payments in the UK and Europe” was originally created and published by Electronic Payments International, a GlobalData brand.

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