In a press release published on its official website, the Swedish fintech company Trustly announced the launch of Trustly Express. The latter is a platform upgrade that enables customers to pay for goods and services faster than ever. For now, only residents of Finland, Netherlands, Sweden, and the UK have access to the new functionality, but expectations are that more countries will be added to the list.
Trustly Express improves customer experience by reducing the number of steps required for completing a transaction. Before its launch, customers had to go through a five-step verification procedure to confirm a payment, including two-factor authentication. Now, they can make payments in less than a minute using a fingerprint or faceID authentication.
Trustly Express is a part of the company’s push for popularizing the A2A (account-to-account) payments on the global market. Apart from being convenient to customers, Trustly Express is also beneficial to merchants that can enjoy increased conversions and a loyal customer base.
Johan Tjärnberg, who assumed the role of a Trustly CEO in January 2022, commented on the launch and said it was a part of the company’s intention to be an industry game-changer and continue to deliver superior value to its partners.
Trustly and the Pay’n Play casinos
Since its foundation in 2008, Trustly has been relentlessly trying to make itself a well-recognized brand instead of being yet another online payment method. Although it does not have the coverage of the industry veterans, it is heavily exploiting the “thinking out of the box” strategy and filling the gaps in the market. That’s how the so-called Pay’n Play online casinos were introduced. The Pay’n Play casinos using Trustly as a primary payment method solve two of the major hurdles casino players face – slow withdrawals and long identity verification process.
Players who prefer traditional online casinos need to provide a pile of verification documents and wait a few days to have the withdrawal request approved. Then, they have to wait another few days for the money to arrive in their bank account. With Trustly, these issues are non-existent. Deposits and withdrawals are instant as the bank already has all information needed for a transaction.
The Pay’n Play casinos are popular mainly in the Scandinavian countries, especially Sweden, and Finland, but given the high demand for fast payout casinos, Trustly is expected to expand its coverage throughout Europe.
How to use Trustly Express for casino deposits?
Making casino deposits with Trustly is no different from paying to any other merchant online. The player needs to enter the deposit amount and the logos of the supported banks will be displayed. The customer needs to pick the one they use to be redirected to their online banking page to confirm the payment. Trustly usually requires two-factor authentication, but now, with the Trustly Express option, the confirmation is done in a few seconds.
Pay’n Play Casinos Concerns
Earlier in 2022, Trustly received a warning from the Swedish Finance Authority Finansinspektionen and had to pay an administrative fine of SEK 130 million for anti-money laundering deficiencies.
The issues were promptly resolved and the company continued to pave its way to growth. However, despite the increasing number of supported banks, there is still a chance that your bank is not among Trustly’s partners. Therefore, one needs to open an account at a supported bank to use the Trustly services. That’s not a real setback, but an inconvenience that seems negligible given the misuses customers often fall victim to. With Trustly, no one can steal your information simply because no information is shared.
The other disadvantage is related to the casino offering. The Pay’n Play casinos rarely offer welcome bonuses, but once again, this is not necessarily a setback, as there are many online casinos that prohibit Swedish and Finnish players from claiming welcome bonuses anyway.
According to players who have used Trustly, the pros outweigh the cons and the company is on the right track with the simplification of online payments without sacrificing security.
