Ahead of Betting on Sports 2017 (12-15 September), Trustly Director of Gaming Samuel Barrett, part of the Innovation in Payments session at next month’s event, spoke to SBC News about digital trends impacting the sector, as well as the changing relationship between bookmaker and payment provider.
SBC: From an industry perspective, has payments been overlooked as a key dynamic for sector innovation?
SB: Absolutely not. The point of conversion is when a player makes a deposit. With many alternative providers supplying innovative solutions for the consumer to choose from, we are only strengthening the operator’s offering. If we do not continue to give players easier and more convenient solutions to make deposits, then the conversion will be more difficult.
SBC: How are new digital trends impacting payment development; where is your team focusing with regards to new products?
SB: We have to look at this from two angles: you have the operators that are concerned with AML 4 this year and you have consumers who want instant gratification. We have recently launched a KYC product across Europe that gives the operators the full KYC data on each player who uses Trustly.
For AML 4, this is a great solution as the rules for clarifying players banking details are becoming increasingly strict. We have also just launched instant withdrawals in the UK, which allows players to receive their winnings into their bank account instantly from the moment they withdrawal.
SBC: A high number of bookmakers are placing more emphasis on extracting payment data effectively. How has this changed the relationship between bookmaker and payment provider?
SB: This goes back to innovation and remaining current within the market. With regulation changing in the market and AML 4 coming into effect, operators are increasingly becoming more reliant on service providers providing data. This is great for payment providers that can facilitate the data as it’s sometimes the main reason a commercial partnership is formed.
SBC: What future technology do you feel will have the biggest impact on the payments sector and its services for betting?
SB: There will never be one main and preferred method for the payments sector or gaming, as each year we see a fluctuation of preferred method types within a market. We know Germany does not prefer credit card, however, the UK is not huge on bank transfer. Africa is big on mobile money and within the Nordic market, players in Sweden, Finland and Denmark all have different preferences.
Players want to be able to play their favorite games as quickly and as easily as possible and when they win, they wish to receive their funds as soon as possible. The providers that continue to focus on this will always have the biggest impact.
SBC: You will be speaking at Betting on Sports 2017; what do you want delegates to take away from your session?
SB: BOS is a great platform to present to the industry and by representing Trustly, I am hopeful that the delegates gain a better understanding of our business and products and services we provide.