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PayPal vs Trustly: What are the differences?

Introduction: PayPal and Trustly are both popular online payment methods that offer convenience and security to users. However, there are key differences between the two that set them apart in terms of their functionality and usage.

  1. Availability and Accessibility: PayPal is available in over 200 countries and supports transactions in multiple currencies. It can be accessed through its website or mobile app, making it highly accessible for users worldwide. On the other hand, Trustly primarily operates in Europe and is supported by select banks in specific countries, limiting its availability to a certain geographic region.

  2. Integration with Bank Accounts: PayPal allows users to link their bank accounts or credit/debit cards to make transactions. This flexibility enables users to choose their preferred funding source. Meanwhile, Trustly directly connects to the user's bank account, eliminating the need to link additional payment methods. This direct bank account integration simplifies the payment process.

  3. Transaction Speed: PayPal offers instant transfers within its network, allowing users to send and receive funds quickly. However, when it comes to withdrawing funds from PayPal to a bank account, it can take a few business days. In contrast, Trustly facilitates real-time transfers, ensuring immediate availability of funds. This speedy transaction process makes Trustly advantageous for time-sensitive payments.

  4. Fees and Costs: PayPal charges fees for certain types of transactions, such as cross-border payments and currency conversions. These fees can vary based on the user's location and specific transaction details. Trustly, in comparison, generally does not charge fees to users for using its services. However, it's important to note that individual banks may apply their own fees for Trustly transactions.

  5. Payment Security: Both PayPal and Trustly prioritize the security of their users' financial information. PayPal offers buyer protection and dispute resolution services, which add an extra layer of security for buyers in case of fraudulent transactions. Trustly, on the other hand, utilizes bank-level security measures and authentication processes, leveraging the user's existing online banking credentials for secure transactions.

  6. Use Cases: PayPal is widely accepted by e-commerce platforms and online stores globally, making it a popular payment method for online shopping. It is also commonly used for person-to-person money transfers and fundraising campaigns. Trustly, on the other hand, is particularly useful for online banking transactions, such as depositing funds into a gaming account or paying bills directly from the bank balance. Trustly focuses more on the convenience of bank-to-bank transactions.

In summary, PayPal offers global availability, bank account integration, and buyer protection, while Trustly focuses on real-time bank account transfers, no additional fees, and convenience for online banking transactions.

Decisions about PayPal and Trustly
Lucas Litton
Founder & CEO at Macombey · | 4 upvotes · 259.5K views

We use GoCardless to simplify the way clients and partners pay for our services. What intrigued us is the quick and easy ACH feature that gives our clients the option to log in with their bank account and shoot the funds directly to our account. The fee, compared to Stripe is less. Stripe and PayPal charge 2.9% + 30c and Stripe also forces the client to enter in all of their payment details manually and then if the payment doesn't work, the client has to try all over again. GoCardless charges 1% + 25c which is much more reasonable dealing with the large projects that we are currently working on.

We integrate GoCardless with Xero to easily send out quick invoices, receive the funds and track all revenue in one place.

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Pros of PayPal
Pros of Trustly
  • 195
    Most known service
  • 135
    Consumers know it
  • 113
    It's available for many countries
  • 70
    Easy
  • 54
    Best way to get paid outside US
  • 35
    Most widely used payment processor
  • 25
    Express Checkout
  • 16
    Consumers trust it
  • 15
    Flexible and secure
  • 6
    Digital Goods for Express Checkout
    Be the first to leave a pro

    Sign up to add or upvote prosMake informed product decisions

    Cons of PayPal
    Cons of Trustly
    • 1
      Not well written recurring payment api
    • 1
      Less countries supported
    • 1
      Harder to get started with
      Be the first to leave a con

      Sign up to add or upvote consMake informed product decisions

      What is PayPal?

      PayPal is an online payments and money transfer service that allows you to send money via email, phone, text message or Skype. They offer products to both individuals and businesses alike, including online vendors, auction sites and corporate users. PayPal connects effortlessly to bank accounts and credit cards. PayPal Mobile is one of PayPal’s newest products. It allows you to send payments by text message or by using PayPal’s mobile browser.

      What is Trustly?

      It is an online payment service provider, which allows you to transfer funds in a fast, simple and secure way for European customers.

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      What are some alternatives to PayPal and Trustly?
      Stripe
      Stripe makes it easy for developers to accept credit cards on the web.
      WePay
      WePay helps people sell tickets to events, send invoices, sell items online, and accept donations online. WePay also provides an API that allows developers to access its payments platform.
      Payoneer
      It is a financial services company that provides online money transfer and digital payment services and working capital solutions
      TransferWise
      It bypasses pricey international payments entirely by using two local transfers instead of one international transaction. If you want to convert your pounds to euros, you send the money in pounds to its UK-based account.
      Braintree
      Braintree replaces traditional payment gateways and merchant accounts. From one touch payments, to mobile SDKs and international sales, we provide everything you need to start accepting payments today.
      See all alternatives