Introduction to Trustly Casinos – Ease and Security via Open Banking
Founded as Glue Finance in Sweden back in 2008, Trustly is an award-winning pioneer of account-to-account payments. The company uses open banking technology to streamline the process of making financial transactions online. Specifically, it allows customers to circumvent traditional debit card networks and make casino deposits and withdrawals to and from their bank accounts.
Since its launch in Stockholm, Trustly has enjoyed rapid expansion, partnering with companies including PayPal and Facebook, and launching in numerous territories around the world. It now has in excess of 500 employees of over 50 different nationalities working in ten offices dotted throughout Europe, Australia, and the Americas. The company works with well over 6,000 major banks, connecting more than 500 million customers with over 8,000 participating merchants in industries such as e-commerce, travel, financial services, and — of course — iGaming.
Regulated by the Swedish Financial Services Authority, Trustly is available to customers in the United Kingdom and European countries like Denmark, Germany, Malta, and Finland, as well as further afield in the likes of the US, Canada, and Australia. In the UK, Trustly serves as an official partner of West Ham United FC and as sleeve sponsor for the club’s Women’s Super League team. The company is also an open banking partner of top online gaming operators like Super Group, Kindred, and 888 — owners and operators of some of the best UK casinos, sportsbooks, and gambling sites.
How Does Trustly Work?
When you sign up to a Trustly casino, you can make deposits and withdrawals using your bank account without having to share sensitive account details or debit card numbers with the casino site. You don’t need to set up a third-party account, as you would with an e-wallet like PayPal or Skrill, nor do you have to request a one-time PIN code. Using the Trustly payment method is in fact really simple.
All you have to do is select Trustly as your casino payment option, log into your online banking account through the portal, then make the deposit or withdrawal with a few clicks or taps. Trustly deposits are encrypted, so any login credentials are kept completely secure and won’t be saved by either Trustly or Trustly casino sites. This makes Trustly simple, safe, and secure, and a fantastic payment option at online casinos.
What is Open Banking?
Rolled out in the UK in 2018, Open Banking enables you to give certain approved third-party organisations, other than your bank account provider, access to your financial information. This makes two main types of services available to you: account information and online payments.
While account information services such as budgeting apps are useful, it’s the online payment bit that interests us here. Open Banking’s payment initiation technology is what makes Trustly tick, and what makes it such a popular payment method around the world. Using Trustly is perfectly safe, but generally speaking, it’s important to exercise caution as to which companies you grant access to your account. Sticking to those regulated by the Financial Conduct Authority in the UK, or another trusted watchdog, means that customer support will be readily available if needed.