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2 votes - 5.00/5.00

Trustly is yet another success story coming from entrepreneur-friendly Sweden. Three fintech professionals founded the company in 2008 in scenic Stockholm, aiming to be the middleman between consumers and merchants for online payment transactions. Geared towards gaming sites and online casinos, it allows players to make an instant deposit from their bank account using their internet banking credentials. Withdrawals are just as fast, providing a complete service that also includes the mandatory KYC and AML checks.

The arrival of Pay&Play casinos in 2016 was to-date the culmination of Trustly’s mission to provide fast and simple payments with maximum security, virtually transforming the way gamblers and sports bettors pay and play at online casinos and bookmakers.

It took Trustly less than a decade to advance to a leading payment provider in Europe and since 2019 in the US. At the core of their product is the gateway that connects consumers and merchants through the bank account. The numbers from their 2019 report with some 10 million transactions/month, a global reach of 600 million users, integration with 6,000+ banks throughout Europe and presence in 20+ markets are proof of their success.

Using Trustly is as simple as it gets. Selecting Trustly as payment method at a merchant, online casino or bookmaker will take you to their interface where you select your bank before being redirected to the login page for your internet banking. Using your credentials, you can complete the transaction with the chosen amount being instantly sent from your bank account to the merchant or casino operator.

In reverse, withdrawals work just as fast by selecting Trustly as your cashout method and entering your credentials. Funds are then instantly deposited into your bank account one approved by the casino. Usually, a process that is either instant or takes a few minutes at most, letting you enjoy the winnings straight after hitting that monster win on your favourite games.

But there is more to Trustly. Together with facilitating the transaction, they also provide risk management by performing the KYC identification and AML (Anti-Money-Laundering) checks casinos have to complete when new players start playing on their site. There is no more need to upload documents that have to be approved and usually lead to delays in getting withdrawals paid.

The entire service offered by Trustly led in 2016 to the launch of Pay N Play casinos where players do not have to register an account. They simply use Trustly as deposit and withdrawal method and can start playing instantly once they funded their account. Pay N Play lets operators identify and verify players via BankID when they make a deposit, helping operators to fulfil their initial and ongoing KYC requirements.

The latest product offered by the fintech company is Trustly Live for use at land-based casinos. Players can make instant deposits and withdrawals from their bank account at the table or cashier. No apps, no cash and no credit cards needed. All that is required is their mobile phone with access to their online banking and they are ready to place their chips or pull the lever on the slot machine.


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