Trustly celebrates 100 live brands for Pay N Play
Trustly is celebrating a huge company milestone after Pay N Play, the company’s innovative player registration and verification product, reached 100 live gaming brands.
Introduced in 2015, Pay N Play allows customers to register and get verified to start playing on a gaming site simply by making a deposit. The KYC data for the customer is collected by Trustly during this same significantly shortened and fully compliant process.
We took a trip down memory lane with Vasilije Lekovic, Director of Gaming at Trustly, to discuss the history of Pay N Play, why it has been so disruptive, which brand helped surpass the milestone and what the future holds for the product.
SBC: What was the first live brand for Pay N Play back in 2015?
VL: No Account Casino, an online site owned by Mandalorian Technologies Ltd and licensed in both Malta and Sweden, was the first to integrate Pay N Play technology from Trustly.
However, the adoption quickly spiralled from there, particularly in Sweden where we enjoyed notable early success with Ninja Casino.
Due to demand from both operators and players, our product saw fast success in Sweden and Finland, with operators like ComeOn, Hero Gaming, LeoVegas, Bethard, GiG, Mr Green and William Hill.
SBC: Why has it been so popular for players and gaming operators?
VL: By bundling the registration and deposit stages, the journey to starting play is significantly shortened. It’s popular among players because they don’t need to fill out lengthy registration forms or send passport copies/utility bills to prove their identity.
The other crucial element is that a good payment service is combined with the smooth registration flow.
While you don’t want to lose a player at the first hurdle through a bad or slow sign up experience, it’s equally important to give a player a good user experience when making deposits and withdrawing winnings.
By combining these key components, you can see why it has become popular from a player preference standpoint, which has driven operators to rethink the wider approach towards player registration and verification.
It was perhaps obvious that operators, assuming the right level of compliance, would be happy with the quicker and more frictionless onboarding of players, but there were initially concerns that instant withdrawals would bring about a reduction in revenues.
However, our recent ‘Power of Fast Payments’ study dispelled such concerns, instead finding that players are also prioritising speed of payments when choosing which brand to be loyal towards. In fact, out of the 1,700 players interviewed across nine countries, 94% craved instant payments.
SBC: What was the 100th live brand to bring up this milestone?
VL: We recently surpassed 100 Pay N Play brands with Coolbet, an online sportsbook and casino live in Sweden, Finland and Estonia. It’s a huge company milestone, and shows how quickly confidence in the product has grown over just a four-year period.
Yes, we’ve been heavily active in Sweden, our home market, but we have also seen fantastic growth in Finland and Estonia throughout 2019, alongside similarly rapid adoption in Germany and the Netherlands.
SBC: And finally, what does the future hold for Pay N Play?
VL: We’ve recently taken the Pay N Play concept a step further by rolling out In-Banner Pay N Play, a feature that revolutionises player conversion on affiliate websites.
It uses the same core technology as Pay N Play, but delivers it on an affiliate site. So the player clicks on a banner on an affiliate website and can make a Trustly deposit directly from the banner, with their player account being registered and verified in the background.
It’s an incredible boost for acquisition for the gaming companies because it completely removes the possibility of player abandonment for an affiliate at the referral stage. This feature can be implemented in various gaming verticals, for example, by bundling the registration and deposit with placing a sports bet, lottery ticket or simply playing a slot game.
Going forward, we will continue to develop new features and functionalities for Pay N Play as well as roll out in new markets. Stay tuned for an exciting year to come!
Source: SBC News