MINTOS, Europe’s largest peer-to-peer marketplace, has partnered with payments company Trustly to offer its customers the option to transfer funds in real-time from bank accounts across Europe.
Mintos said the collaboration with Swedish e-payments company Trustly will allow investors using its platform to transfer money in real-time from bank accounts across 29 European countries. This strips out the usual waiting time that is associated with conventional clearing systems.
Read more: First UK finance provider joins Mintos
During a test period in the Baltics, it said 80 per cent of newly registered investors chose to transfer their funds with Trustly because of the speed and convenience.
“We are very pleased to be able to grow our offering with both an in-demand payment method and the unrivalled European coverage that Trustly provides,” said Martins Sulte, chief executive and co-founder of Mintos.
Meanwhile, Trustly’s chief commercial officer Johan Nord said the partnership serves as an example of how two fintech businesses can work together to create value for investors by “streamlining the transaction process, while also delivering the highest level of transaction security”.
Latvia-headquartered Mintos allows people and institutions to invest in loans originated by a variety of alternative lending companies from around the world. The number of investors using the platform is expected to reach 100,000 by the end of the year.