Swedish online payment services provider, Trustly, announced the release of its new product, Trustly Live. This is the company’s first attempt to launch a service specifically for land-based casinos.
Trustly is a company with a reputable name within the online casino industry. The company spotted a “hole” in the land-based casino territory and made a pioneering move to redirect brick-and-mortar casinos towards the “cashless era”. It comes without a doubt that lately, consumers use less cash and make more payments by credit cards or e-wallets. This is more evident in Trustly’s region as in Sweden, reportedly, only 13% of Swedes used cash for a purchase for 2018.
Trustly Lives is going to be added soon as a deposit and withdrawal method to many land-based casinos. The players will be able to use the payment method by scanning a QR code with their smartphones and choose the amount they wish to deposit to or withdraw from the casino. This not only facilitates the operator’s cash handling costs but it gives a serious boost to the correct implementation of KYC and AML policies. The croupier will see the player’s KYC information, as well as if they have self-excluded with the add-on of a red flag on their accounts. Moreover, Trustly will check the sources of the money that are deposited to the accounts of the service so the casinos won’t have to worry about money laundering.
Trustly Live has already distributed in 45 locations in Sweden and the company plans to expand in Europe the next months.
Samuel Barrett, Director of Gaming at Trustly commented that this innovation will be in favor of all the parts of the industry. Operators will minimize their cash handling costs and finally take part in the cashless era while players will be introduced to more convenient and secure methods to conduct their transactions. He added that Trustly is just the middle man between the land-based casinos and the satisfaction of players’ preferences regarding payment methods.