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Adding on to its strategy of increasing the value of gaming operators across the globe, Open Banking payments provider Trustly has taken on the task of alleviating the UK gaming sector from its payments complexity burdens.
This task is within touching distance thanks to the tools Trustly has at its disposal, as it becomes clear in this interview from Payment Expert with the company’s CCO Olof Wirfelt.
Pay N Play headed to UK shores
The payment provider is set to launch Pay N Play in the UK. This gaming product has proven to streamline the user payment journey by combining the registration and deposit steps into one. No more time-consuming sign-up and manual account verification processes.
Pay N Play has been used in other markets since 2015 and helps operators reduce the risk of drop-offs during the payment process. This has resulted in a conversion rate of over 98.8%.
Wirfelt told Payment Expert: “Adding the UK to our roster of markets where Pay N Play is available (others include Sweden, Finland, Estonia and the Netherlands) we’re happy to now see UK players being able to experience frictionless registration and deposits combined with instant payouts.
“The fact that we’re expanding this concept to new markets reinforces our position as a leader in innovative payment solutions. It also underscores our dedication to providing seamless, convenient, and secure digital payment experiences for consumers.”
Trustly also suggests that this launch reflects the speed of uptake by Brits of more advanced payment methods in recent years. Prior to this, UK consumers were far more reliant on traditional bank cards for online transactions.
“Trustly is growing at hyper speed in the UK and Open Banking payments are fast picking up as a popular payment method amongst users in the market,” explained Wirfelt.
“From an iGaming perspective, UK operators have had better access to the financial services ecosystem compared with many other markets.
“Since UK banks have built very well-functioning APIs, it is clear that consumers are open to shift their behaviour. Similar to other markets, digital A2A payments in the UK have several benefits compared to cards, such as less exposure to fraud, better identification data, and often lower cost.
“We are seeing a significant interest from UK merchants across all our verticals and it’s very clear that merchants are actively looking for A2A payments to add to their cashiers. We have operated longer than anyone else in this space, we have proven the quality of our product delivery in this market and others, and right now it’s full steam ahead.”
Trustly’s Pay N Play product also offers robust security features to protect players’ funds. This is achieved by leveraging bank-grade encryption and authentication protocols, ensuring that players’ financial information remains safe and protected throughout the transaction.
Building on the Pay N Play solution, gaming operators can differentiate themselves, attract more players, and ultimately drive revenue growth. With ease of use and strong security, Trustly seeks to foster trust and loyalty towards both the payment solution and the gaming brands that offer it.
Wirfelt concluded: “In summary, a seamless payment journey is paramount in the gaming industry, and Pay N Play is the ideal solution to meet this demand. With its user-friendly interface, enhanced security features, and ability to drive conversion, Pay N Play is helping gaming operators stay ahead of the competition and deliver exceptional experiences to players worldwide.”
