West Ham United, the renowned football team in the English Premier League, has announced a multi-year partnership with Trustly to become an official open banking partner.
Open banking is a practice that lets third-party service providers like Trustly the ability to access consumer banking data. This is essentially the platform that Trustly runs off, making account-to-account direct connections between consumers and merchants.
Trustly is one of the most innovative open banking companies to arise in the past few years, completely reshaping the structure of performing transactions. There is less risk associated with open banking because it makes a direct debit to the merchant, no middlemen required. Money spent is money owned, causing less financial risk to the merchant, the consumer, and the bank.
Purchasing tickets, merchandise, concessions, and more can all be done with the consumer’s preferred way to pay with this new open banking partnership with Trustly. Instead of conforming to the single payment option available in the past, open banking lets fans make purchases and connect with West Ham United in a more direct, preferred way.
Over 2.5 million UK banking customers use third-party payment solutions like Trustly to make purchases, growing by more than 1.5 million in just the past year. Open banking is certainly the payment solution of the future and Trustly is quickly monopolizing on the potential.