Trustly, the online banking payments provider, has announced the launch of Trustly Live, its first product built specifically for land-based gaming.

Trustly Live

Since 2008, Trustly has aimed to make it fast, simple and secure for players at online gaming sites to deposit and withdraw money directly to and from their online bank account. Now, with the introduction of Trustly Live, Trustly is helping to remove the need for cash at land-based casinos and sportsbooks.

Increasingly, consumers across many geographies are carrying and using less cash. In Sweden, for example, in 2018, only 13 per cent of Swedes reported using cash for a recent purchase, according to a national survey, down from around 40 per cent in 2010. At the same time, handling cash can be costly for land-based gaming operators, typically costing around five per cent.

With Trustly Live integrated as a deposit method at tables, CRTs and cages, players can scan a Trustly QR code with their smartphone and instantly deposit funds from their online bank account. This helps operators lower cash handling costs while also catering to the preferences of their players. Additionally, Trustly Live can strengthen KYC and AML checks, ultimately helping to enhance the trackability of players and meet increasingly strict regulatory requirements.

Trustly Live is currently live with Cherry Spelglädje in 45 locations in Sweden and plans to expand across Europe in the coming months.

Samuel Barrett, director of gaming at Trustly, said: “The launch of Trustly Live will help land-based operators thrive in today’s increasingly cashless economies. Cash handling is expensive, unsafe and, frankly, outdated. Consumers are already adopting safer and more convenient ways to pay and Trustly is excited to be bringing innovation to the land-based gaming world by helping operators keep pace with their players’ preferences.”