All you need to know about Pay N Play and online casinos using it, Detailed Pay N Play casino guide
The online gaming industry has been growing in popularity for some time now. However, this explosion in popularity does not mean many would-be users are not being left behind.
As it turns out, the biggest complaints by users in the online gaming industry are the long registration processes and the lengthy deposit and withdrawal times.
Not only are these two factors an inconvenience, but they are also driving customers away. Repeat customers are key to the online gaming industry, and the only way to keep the users engaged is to fix these issues.
Luckily, Trustly has done just that with its new Pay N Play product designed to eliminate redundant registration processes and eliminate banking wait times.
Trustly has been eager to get to the bottom of this problem and went out to find the facts. This Swedish payment service spoke to over 1,700 people across nine different European Union markets.
Here they found overwhelming data telling them exactly what online players want. Ninety-four percent of all players want instant access to their winnings, while 80% claimed they would gamble more frequently at an online casino if they could execute immediate withdrawals.
Of course, these issues exist for a reason. As everyone knows, online casino operators do not have it easy, as security issues, banking industry roadblocks, and disengaged customers all provide their own sets of hurdles for them to jump.
Trustly takes all of this into consideration and streamlines the entire system by making the registration process one step, allowing for instant deposits and withdrawals, and building player loyalty, all at the same time.
Online casinos always promise a quick sign-up but hardly ever deliver. Opening a new account will normally require a player to fill out a lengthy registration form or two.
Then, after that, there is a slow and sometimes difficult verification process. This can involve sending copies of ID and utility bills in the mail or scanning them to deliver electronically.
Now, with Pay N Play, new users accomplish all of this in an instant, simply by making a deposit. With Trustly acting as the intermediary that supplies the operator with all the relevant player information as well as money from the bank.
Not only does Pay N Play offer up a speedy sign-up, but it also delivers a few other benefits for its users. It is always free to use, unlike many other payment methods which can charge hefty fees.
Plus, one doesn’t have to worry about security at all as Trustly implements the highest encryption stand available and never stores information which could be used to access a player’s bank account.
Trustly is a fully licensed payment institution and has been completely authorized by the Swedish Financial Supervisory Authority. It can facilitate fast, simple, and secure online payments directly from customer’s bank accounts and is currently one of the preferred payment options for consumers in 29 countries of the EU.
You do not have to register to use their service, although you will need to have an account with one of the participating banks. Trustly payments then come in three easy steps:
- Select your bank and log in.
- Choose the account you wish to pay from.
- Confirm the transfer with your preferred authentication method.
Trustly has been a successful service in the online gaming world for some time now, even before the advent of Pay N Play. Online players know the name as one of the available banking options.
Thanks to years of feedback, we know players prefer Trustly due to its simplicity, safety, and affordability.
The Trustly Group is a Swedish financial technology company founded in 2008 by Carl Jacob Wilsson, Joel Jacobsson, and Johan Lukas Fabian Gratte, and it has only continued to grow since. The Financial Times ranked it as one of their “fastest-growing companies in Europe” list in 2017 and 2018, and the London Stock Exchange has recognized Trustly as one of its “most inspiring, fast-growing companies” as well.
The private equity fund Nordic Capital acquired a majority stake in Trustly in early 2018. Then, in the summer of 2019, Trustly merged with PayWithMyBank, a leading U.S. online banking provider, aiming to create a transatlantic online payment system. This merger aims to enable over 600 million users from the United States to Europe to pay directly from their bank accounts rather than the user of wires, transfers, or even credit cards.
As of today, Trustly supports more than 3,300 banks all across Europe, processing over 1.8 million transactions monthly. Although founded in Sweden, Trustly has a strong presence in Finland, Germany, Malta, Spain, and the United Kingdom.
This coverage has made them quite popular with online merchants of all kinds, including, of course, online casino operators. The launch of Pay N Play only looks to grow that popularity.
Trustly’s new product, Pay N Play, is quickly gaining traction with new users and has more to offer than just easy registration and short banking times. Pay N Play is taking things one step further by integrating into banner advertising with affiliated sites as well.
Players will soon be able to register and wager within an interactive banner hosted by the operator. This will enable operators to reach more users while helping affiliates increase traffic.
Trustly isn’t stopping there either as they are currently also working on entering new geographies and analyzing other verticals such as financial services, travel, and e-Commerce.
Online casino operators can integrate Pay N Play in one of two ways. The Pure model is an ideal solution for the launch of new brands, while the Hybrid model is the best option for existing brands looking to enhance the player experience.
In the Pure model, Trustly is the only registration and payment method available to users. Therefore, the Pure model can incorporate a “Resume Play” feature, which allows players to return to the gaming site with their previous balance.
Payouts can also be instantly placed back into the player’s bank account without any withdrawal process or fees.
In the Hybrid model, Trustly is one of the several payment service providers. This model does not have “Resume Play” functionality, and returning players will have to log in, either by making a deposit via Trustly or by entering their username.
When withdrawing funds, users will have to log into their online bank to do so.
Both models have their advantages. However, the current data shows that online casino operators using the Pure model have much more success and positive feedback.
Implementation is simple, especially for operators already executing Trustly’s standard deposits and withdrawals. Product integration is rather simple as well, requiring a few API calls and some frontend development.
All in all, either model can be fully implemented in as little as a week.
The key selling point of selecting Trustly as a deposit method is convenience and simplicity. You do not have to register or create a new account with new passwords and PINs.
Trustly does not charge any fees and is, therefore, much cheaper than many other banking options available to online players. It can be used for withdrawals and deposits, so players won’t have to use multiple methods of banking when they are ready to collect on winnings.
Trustly is under the strict scrutiny of the Finansinspektionen and complies with all the same security standards as your bank. This makes it entirely unnecessary for clients to share sensitive financial information with various operators.
Trustly’s Pay N Play streamlines registration and payments by merging account opening and depositing all into one step. It also enables withdrawals to move as quickly as cryptocurrency transactions.
The only real disadvantage to Trustly is that the service is not yet available to everyone. To access Trustly, one must be a resident of a country in which they operate, and your bank must be on the list of their supported banks.