Trstpays

https://trstpays.com

Year founded

2019

No. of Employees

2

Company's Core Competence

- Unique trust account solution for delayed delivery merchants, such as airlines
- Unrivalled industry knowledge
- Successful acquirer network
- Rapidly growing airline and travel industry network

Product /service description

Trstpays’ unique payment trust account model provides a win-win solution to the constant credit-risk battle between acquirers and their delayed delivery merchants, such as airlines. By reducing risk across the payments value chain, we can increase margins, improve liquidity, and accelerate settlement.
1. An independently managed trust account sits between the acquirer and delayed delivery merchant.
2. We use an industry-leading database and transaction checking tool to monitor payments against the delivery of goods/services.
3. Payments are released to the merchant an agreed number of days before delivery of goods/services, rather than simply being held back by the acquirer for the conventional 180 days from the initial transaction.

How is the solution unique, innovative or game changing?

Trstpays is currently revolutionising the way airlines manage payments, and we hope to do the same for other delayed delivery sectors in the future. We are the only trust solution provider with proven experience reducing collateral requirements, accelerating settlement and improving cashflow and margins for airlines. Our payments trust model is an alternative to traditional credit risk tools, which at best are inefficient, and at worst, can be catastrophic for merchants in terms of cashflow and balance sheets. Unreasonable demands for collateral, inefficient rolling reserves and arbitrary holdbacks are all eliminated. Combined with our unrivalled knowledge and industry network we have a game-changing proposition which brings value to acquirers and their delayed delivery merchants.

What is value proposition?

Our solution provides value to both acquirers and merchants. Importantly we provide trust and stability in the relationship so both parties can focus on achieving business goals. - Increase margins. By reducing risk, we can help merchants improve commercial terms with their acquirer. - Improve balance sheets and cashflow by eliminating collateral and rolling reserves. Full capital paid with no holdbacks. Payments are immediately visible in the merchants’ named trust account. - Accelerate settlement. With funds settled on an agreed number of days before service delivery, the average settlement time is faster than any standard processing agreement. - Our low cost is a fraction of the savings merchants make on payment fees, returned costs of capital and improved cashflow. - Enhance clarity through improved transparency on liquidity position enables merchants to manage investors, suppliers, and other stakeholders. For acquirers, Trstpays’ solution can help to open up additional verticals without taking on new credit-risk. The ability on-board merchants that can’t be managed with traditional credit risk tools can provide a huge competitive advantage!

What is the vision for the product / service?

Designed initially for the airline industry, where conventional risk controls have been seen to have a catastrophic impact, our payment trust solution can equally be implemented for any delayed delivery business including cruise companies, ticketing, and others. In 2021, we expect to primarily focus on supporting airlines, strengthening their financial position as they re-build after the pandemic. We have seen a wider interest in our payment trust account model from other sectors which will provide a significant opportunity as we scale-up operations.

Why should the company be chosen to speak at MPE?

We know crises drive innovation, so we expect 2021 will be full of new products and solutions. Not all of them will meet a real business need. Not all of them will provide benefits across the ecosystem for both acquirer and merchant. Not all of them will have the benefit of experience. We do. While Trstpays’ proposition is unique and solves a real business problem, our hidden value-add is our unrivalled industry experience and partner network. As payments-industry veterans, we really understand our customers’ challenges. By assembling a unique panel of experienced acquirers, we can ensure our merchants find a payments partner who can truly meet the goals for their business. Visa’s Chairman said of our founder and CEO: “Marc O’Brien has been at the forefront of the payments industry for 30 years. Former CEO of Visa UK, Ireland, Nordics & Baltics, Marc has played a leading role in innovations like contactless payments as well as advising fintech startups like Revolut grow into huge businesses. One of life’s good guys, he inspires teams with a good strategic brain and the added quality of emotional intelligence.”
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