Trustly's Azura checkout boosts user spending & conversions

Trustly, a provider of open banking solutions, has revealed that its checkout technology, Azura, has significantly impacted consumer payment behaviour across European markets. The findings highlight increased spending, higher purchase frequency, faster transactions, and improved conversion rates.

According to the data, consumers spend 10.5% more at checkout when using Trustly, and purchase 8.6% more frequently in key markets. Additionally, 75% of consumers choose to save their details with Trustly, facilitating quicker transactions and enhancing user convenience. The average time to complete a transaction has been reduced by 30% across all markets and verticals, with over a 50% reduction in some areas. This improvement has contributed to a 20 percentage point increase in conversion rates in several key markets.

The technology behind Azura focuses on seamless integration and security. By leveraging its recognition capabilities, Azura enables consumers who opt-in with one merchant to be recognised across all other sites using Trustly's account-to-account technology. This process ensures high levels of data protection while offering an enhanced user experience.

Azura has marked its first anniversary with notable success, having rolled out to 12 European markets. The sophisticated data engine at its core processes vast amounts of data from merchants, users, and banks to enable seamless recognition of individuals across devices and platforms. This functionality allows for personalised payments, deposits, and payouts with Trustly.

Analyses indicate that three out of four returning users who pay with Trustly benefit from Azura, leading to an increase in average order value. Currently, two-thirds of all transactions are processed through Azura, resulting in substantial conversion improvements across various sectors. The Financial Services, Ecommerce, and Travel sectors have seen a 10 percentage point increase in conversion rates. Additionally, in the Baltic region, the time to complete orders has been reduced by half.

Johan Tjrnberg, Group CEO of Trustly, commented, "We are transforming the way people pay across Europe, resulting in a sharp increase in conversion rates - up to 40% in some countries. This represents a turning point in consumer behaviour and clear merchant satisfaction globally. Personalisation for online transactions has been seriously under-utilised—we have changed that. And we are achieving it on an unmatched scale, thanks to our position as the leading account-to-account payments provider. Our mission is to innovate, and this is just the beginning."

Trustly's performance in 2023 saw a significant rise in transaction value, achieving a 79% increase to reach USD $58 billion, up from USD $33 billion in the previous year. The company experienced growth in both the U.S. and Europe.

Looking ahead, Trustly plans to unveil the next generation of Azura in mid-June, further advancing the landscape of digital transactions. This update is anticipated to provide additional opportunities for the continued evolution of how consumers pay online.