2008 was a big year for the beginnings of new payment methods at online casinos and for other virtual transactions, not least due to the financial crisis of the time.
Bitcoin began life in 2008, and while that virtual currency has taken most the headlines since, 2008 also saw the birth of another payment method that has become huge in the decade since, Trustly.
What is Trustly?
Trustly was formed with one aim in mind, to enable customers to make faster and safer online transactions.
Unlike eWallets and Bitcoin that involve the deposit of funds into a wallet or the purchase of bitcoins, Trustly makes it possible for customers to pay directly from their bank account without needing to worry about long numbers on scanning in cards.
One of the reasons that Trustly is as popular as it is amongst online casino players and online customers as a whole is that there is no need to sign up in any way, instead you just pick Trustly as a payment method, log in to your bank, and make your transaction, it’s that easy.
It is no surprise, given the simplicity and effectiveness of the process, that many players favour Trustly, and as a result, a decent number of online casinos now offer the payment method among their choices.Read More
Innovation is at the forefront of everything Trustly do, with the company willing to listen to ideas from any and every direction.
This is proven by the existence of Hacker Day, an annual event that sees anyone with creative ideas from the world of coding and developing to bring try them in a cross-team situation.
As Chief Product Officer of Trustly, Joseph Darmark, explains:
“Innovation doesn’t happen naturally, so it is something we always speak about and it is something we always consider. We have various ways of working innovation. We are always conscious about innovation.
“On top of that, I think we are an interesting area in terms of the whole landscape of payments online is generally evolving. So, there are lots of things happening that if you are just creative and innovative, you’ll find funny and interesting ideas to push for.”
Pay’n Play and InBanner Pay/n Play
In 2015, Trustly introduced Pay’n Play, a product built to remove the cashier, and made it so players no longer need to register at betting sites to make deposits, speaking of Pay’n Play, Darmark said:
“There are lots of things happening. In our case, in the Pay ‘N Play product, we are just telling merchants who they are. It is an interesting case of telling merchants more about their customers—what they can do and what their customers want already at the station deposits.
“It is also interesting the movements across the globe in banking payments. We are also hoping to be able to push traffic from other countries than we already have today.”
Not content to sit back and be proud of Pay’n Play, however, Trustly maintained their focus on innovation, adding an InBanner Pay’n Play product towards the end of the 2018.
InBanner Pay’n Play gives operators the ability to provide an interactive banner to players which allows players to register and deposit.
Chief Commercial Officer, Johan Nord, spoke of the product, saying:
“Trustly takes pride in leading innovation in the payments industry and we are constantly working on new areas of application that will help improve the business performance of our merchants.
“The new In-Banner Pay N Play technology gives operators unprecedented reach and proximity to users, and we look forward to seeing which operators, payment teams and marketing departments make best use of it.”
Vasilije Lekovic, Trustly’s Head of Gaming Accounts, added:
“The new concept combines the main features of Trustly’s Pay N Play product but applied in a new environment. Users can be activated without needing to leave the webpage they are browsing, creating significant value for operators looking to increase the efficiency of their marketing spend.”
Another big change for Trustly towards the end of 2018 saw Sarah Berg be named the company’s first Chief Operating Officer.
Berg, who had held the position of Chief Legal Officer since joining the firm in 2012 after working as a lawyer, said of the appointment:
“I’m proud to have contributed to what Trustly is today and it feels very good to assume the new challenge as COO. In recent years, we have seen how interest in account-to-account payments only increases and Trustly is involved in this development by enabling customers to pay smoothly and securely, directly from bank accounts, and for e-commerce companies to increase its conversion.
“We are only at the beginning of this trip and I look forward to continuing working with the Trustly team to make our offer even better for both consumers and businesses.”
CEO of Trustly, Oscar Berglund, added:
“Since she started in 2012, she has backed up all parts of the company in a wide variety of subjects and has demonstrated strong leadership. I expect Sara in her new role to be able to benefit from her experience and knowledge of Trustly and our operational processes to help us grow efficiently.”
These last two changes have taken place since Trustly was taken over by private equity firm Nordic Capital which bought the company as part of a stream of Fintech purchases.
The deal saw Trustly valued at over $850 million dollars and shows the high reputation that Trustly has developed for itself.
For those in the iGaming world, there have been many innovations over recent years that have allowed the choices of payment method to be broader than ever before, and Trustly is one of the top names on that list.
Safe, efficient, and innovative, Trustly don’t look to be done bringing new ideas to the table, meaning the payment process is likely to keep getting easy as Trustly continues to evolve.