Sara Berg is joined Trustly in 2012 as Chief Legal Officer and became the Chief Operating Officer in 2018. Prior to joining Trustly, she worked as Senior Associate at Swedish law firm Delphi. During this episode, Sara openly shares the history of Trustly and what problem they solved from the beginning. We also talk about PSD2, what challenges it has solved and what is yet to be solved.
Trustly is Swedish Fintech and IT-company that was founded back in 2008. Fintech provides payment solutions for the e-commerce industry through its direct payment technology. They are also serving fintech banks such as Avanza and Nordnet. To make a purchase with Trustly, the customer identifies himself with his usual bank ID solution, such as Swedish Mobile Bank ID and with certain reservations, Trustly takes all the credit and fraud risks, so that the e-commerce or the consumer is guaranteed payment.
Sara Berg gives us the history of Trustly and how it recently entered the US market through an acquisition. The company soon has 400 employees across several countries. Trustly was one of the companies that were several years ahead of the PSD2 regulation and Sara thinks that regulatory instances need to increase their speed of introducing new regulations. The next area that Sara thinks will see more regulations is consumer credits and pay later options. We also discuss the regulatory differences between the European and the US market.