Online payments specialist Trustly has launched Trustly Live, a brand new solution bringing instant cashless payments to land-based casinos and sportsbooks.
Now that consumers are increasingly using less cash in their everyday lives, Trustly Live – the company’s first product built specifically for land-based gaming – is there to help operators keep up with this changing behaviour.
For example, only 13% of consumers in Sweden – where Trustly’s Pay N Play has become an industry standard – reported using cash for a recent purchase according to a national survey. This is down from around 40% in 2010.
One of the key advantages of a sportsbook or casino going ‘cashless’ is that cash handling, which should be a free commodity to receive, can typically cost up to 5% for a business.
With Trustly Live, which can be integrated as a deposit method at tables, cash redemption terminals (CRTs) and the cashier’s cage, players can scan a Trustly QR code with their smartphone to instantly deposit funds from their online bank account.
Therefore, operators can lower cash handling costs while 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.
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“Cash handling is expensive, unsafe and, frankly, outdated.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.”
Trustly Live is already live with Cherry Spelglädje in 45 locations in Sweden and plans to expand across Europe in the coming months.
Keep your eyes peeled for a comprehensive interview about Trustly Live with Samuel Barrett. It will be live from tomorrow morning (10:30 BST) on SBC News.