What is Trustly?
Trustly is an online bank transfer payment method. More specifically, it is an open banking method that lets customers make fast and secure payments from their online bank account without having to use a card or an app.
Trustly was founded in 2008 and is a Swedish fintech company. It has over 650 employees and is headquartered in Stockholm, Sweden. Today, Trustly is connected with 6.3k banks, 8.1k merchants and over 525 million customers in Europe, the Americas and Australia.
With its multi-currency functionality, ease of activation, and Pay N Play solution, Trustly is an ideal payment method for many iGaming businesses. It allows them to accept and issue out payments quickly, easily and securely. Additionally, businesses can access valuable user data to help improve acquisition and increase customer loyalty.
Top Software Providers that offer Trustly
EveryMatrix
SoftGamings
ProgressPlay
Pragmatic Solutions
Dragonfish
Aspire Global
Integration and Functionality
To integrate this payment method, you can complete the integration directly through Trustly. You can also obtain it with the help of a reputable iGaming or betting software provider that Casinnovate reviews, such as those providers mentioned above.
With that said, if you choose to integrate Trustly independently, you can either choose the API Integration (full platform integration which requires basic knowledge of network programing and monetary transactions) or the Module Integration (simplified integration with the support of a range of plugins). Once integrated, Trustly lets you accept payments, issue payouts and access user insight data that could be highly valuable to your business.
What’s more, depending on the jurisdiction you’re targeting, you can integrate Trustly’s Pay N Play solution. This unique solution combines a player’s registration and initial deposit in a single action. Pay N Play allows operators to identify and verify players when they make a deposit, fulfilling the operator’s KYC requirements in one fell swoop. There’s also no withdrawal wait time. Giving players the power to engage in real money play with no wait times, including instant withdrawals, can help boot acquisition and build loyalty.
How to get a business account through Trustly
To obtain a merchant account directly through Trustly, you should begin by contacting their sales department.
- Go to Trustly’s official site
- Select the “Contact” tab and choose “Contact Sales”
- Check off that you represent a business
- Fill out the form (work email, full name, company, company website, industry, your job title, phone number, country and annual turnover)
- Submit the form
Once you’ve submitted the form, you will initiate the qualification process and will be contacted by a representative who will inform you on how to proceed.
How Trustly functions as an iGaming payment solution
Trustly can be used by players for making deposits and withdrawals, although depending on the player’s jurisdiction, only deposits may be available. That being said, all online bank payments made with this solution at online casinos and betting sites are simple, seamless and encrypted, enabling players in 29+ European countries to make swift and secure transactions without needing to provide their bank details.
Trustly is cross platform compatible and exceptionally mobile friendly, making it easy for players to deposit, play and withdraw via their preferred device. Plus, due to Trustly’s multi-currency functionality, it is easy to localize your online gambling offering, especially in Europe. GBP, EUR, CZK, SEK, NOK, DKK and PLN are among the supported currencies.
Benefits and Drawbacks for Players using Trustly
Benefits
- No Trustly account required – Eligible players don’t need an account with Trustly. As long as their bank accepts Trustly instant bank transfers, they can use it.
- Easy and instant deposits – Players simply login to the gambling site, head to the Cashier, select Trustly and then their bank from the list, enter the deposit amount, and confirm the transaction via 2-step verification.
- Pay N Play – Players who can use Trustly’s Pay N Play are immediately verified and can deposit and start playing instantly with no lengthy registration process. They can withdraw instantly too.
- Free Transactions – There’s no casino fee for players who use Trustly.
Drawbacks
- Not all banks are included – If a player’s bank doesn’t support Trustly’s payment service, players cannot use this payment method.
- Withdrawal not always an option – Unlike deposits, withdrawals via Trustly are not always available for players. Availability depends on the country.
Countries
Trustly is available in the Americas, Australia and Europe. That said, for the purpose of online gambling, it is primarily offered to players in European countries. Some of these include:
- Sweden
- Norway
- Finland
- Denmark
- Germany
- Austria
- Belgium
- Spain
- The Netherlands
- United Kingdom
- Poland
- Latvia
- Lithuania
- Estonia
- Slovakia
- Czech Republic
Safety and Security
Trustly is secure and uses the highest encryption standard available. It does not store any information that can be used to access consumer or merchant bank accounts. Beyond the banks’ security system, it is a licensed payment institution that is authorized and meticulously supervised by the Swedish Financial Supervisory Authority.
Trustly also works closely with its merchants, banks and the relevant authorities to mitigate fraud. Furthermore, its Lean KYC products help businesses fulfill their regulatory KYC requirements to help prevent fraud by providing the necessary data retrieved from the end user’s online bank account, which is delivered in the Trustly back office or via API.
Customer Support
Once you’re an approved Trustly merchant, to obtain the assistance you need simply reach out to your designated Account Manger. You can also login to the Trustly back office to obtain support.
As for players, if they need to get in touch with Trustly, they can easily do so via the company’s website by accessing the FAQ or contacting consumer support via their contact form.
Trustly Fast Facts
- Type of payment method – Online bank transfer
- Deposit available – Yes
- Withdrawal available – Yes
- Multiple currencies accepted – Yes
- Easy integration – Yes
- Popular iGaming regions – Europe
Conclusion
Whether you’re interest in integrating Trustly, Pay N Play or both, rest assured that this is an online bank transfer service that enables account-to-account payments with no cards, no downloads, and no registration required for players. Trustly is a straightforward, reliable, quick and secure solution for iGaming businesses. Explore our software reviews or get in touch with Casinnovate if you’d like to learn more about how you can make this payment solution a part of your business.
