Lithuania has high internet-banking penetration, and the so-called 'bank link' method — logging into one's own bank to transfer funds when paying for online shopping — has long been the standard in this market. The Bank of Lithuania (Lietuvos bankas) is open to fintech oversight, so the institutional groundwork for PSD2 open-banking account-to-account (A2A) payments is also well established. Trustly meets this bank-link demand through an open-banking API with no separate app installation required, allowing it to reach even customer segments with relatively low credit-card penetration.

For digital services and booking-type businesses where instant deposit confirmation matters, or for online stores targeting Lithuanian customers in their 30s to 50s who prefer account-based payments, there is real value in deploying Trustly alongside cards and wallets. Because the transfer is confirmed at the moment payment completes, the lower risk of chargebacks compared with cards is also worth factoring in.

The Lithuanian consumer selects Trustly at checkout and designates their bank, then, through open-banking authentication involving bank login and approval, the funds are transferred directly from the account. This bank authentication process itself satisfies PSD2's strong customer authentication (SCA) requirements. The transferred euro (EUR) funds are received by Hecto Financial, converted, and settled with the Korean merchant in whichever of USD, KRW, or JPY was agreed in the contract.

Integrating through Hecto Financial lets a Korean merchant consider adopting Trustly without a local Lithuanian contract or the need to open a local account. However, because open-banking account transfers differ from cards in supported bank coverage and refund handling, the settlement cycle, fees, and currency options need to be confirmed with the sales team before signing the contract.

• Business registration country

  Confirm whether a contract is available under a Korean business registration

• Sales channels

  The integration method and priorities differ depending on your online sales channel mix, such as an owned storefront, open marketplaces, or a mobile app

• Product categories

  Check in advance whether your products fall under a restricted category under Trustly's merchant policies

• EU regulatory compliance

  Confirm compliance with EU payment regulations such as PSD2 and SEPA (see official sources below)

Trustly payment funds arise in euros (EUR), and Hecto Financial receives them locally, converts them, and settles them with the Korean merchant in whichever of USD, KRW, or JPY was selected at the time of contracting. Because account transfers, unlike cards, have no chargeback process, refunds proceed as a merchant-initiated return transfer, so it is advisable to have a refund process in place in advance to handle return requests made within the 14-day withdrawal period guaranteed to EU consumers.

• Bank of Lithuania (Lietuvos bankas)Official information from the integrated supervisory authority responsible for operating Lithuania's payment systems and for licensing and supervising electronic money institutions (EMIs). If this page's content differs from actual regulations, the official source takes precedence.