The Swedish fintech company Trustly revolutionizing casinos from the Baltic region

  • 2024-07-09

Gambling has been a popular pastime for thousands of years. The human species could not have survived this far if it were not for its undying desire to develop and do better. For many people in the world, gambling is just another way to try and earn a little money while also having some fun on the side.

Naturally, the Baltic region is no stranger to gambling either. All across Latvia, Lithuania, and Estonia, there are small brick-and-mortar shops that house some of the hottest physical slot machines in the world. In addition to this, more and more people are heading online for their serving of casino entertainment. In this article, we talk about how the Swedish company Trustly, in particular, is revolutionizing online casinos in the Baltics.

What is Trustly?

Fintech is a thriving industry that consists of numerous companies that are trying to make the world of online payments as accessible as it can possibly be. The Swedish-born company Trustly is one of the key players in this field and an ultra-popular choice for both online retailers as well as online casinos.

Trustly was originally founded in Stockholm in 2008. From the very beginning, its goal was to make online payments faster and easier for customers. This goal was accomplished by making Trustly into a sort of gateway between the user’s bank and their online service of choice.

When a customer wants to pay with Trustly, they simply need to choose Trustly from the list of payment options and then go on to select their preferred banking system from the list. After this, the transaction has to be confirmed through a mobile banking app for the money to be transferred to where it is going.

Unsurprisingly, Trustly was very quick to catch on with hundreds of thousands of online casino customers and those ordering products on the Internet. Perhaps the most hailed of Trustly’s features was that it required no extra registration processes unlike some of the other payment methods that were available.

Online casino pay n play

Although Trustly had already been making waves with its easy-to-use interface and features, there was still one ace up its sleeve that would not see the light of day until around 2016. This is when the first so-called pay n play casino brand would be released in cooperation with Trustly.

Pay n play is a feature that has since grown immensely popular among fans of online casinos. With it, players are free to complete their online casino registration and first deposit in one swift motion. In other words, pay n play Trustly casino brands allow users to create a casino account with the help of BankID.

When a new customer arrives at a pay n play casino, they will immediately find a deposit field at the top of the casino homepage. After entering the sum of money that they want to deposit, they will be able to access Trustly to finish their deposit. Since Trustly gains access to its user’s bank account for the deposit to be made, it can give the casino access to the user’s name and address. This information can then be used to verify the user’s identity, which means no additional steps need to be taken to register an account.

There is also an added benefit to verifying the customer’s identity already at the start. That benefit is that at more traditional casinos, this verification would have to be done at the point where the player is trying to withdraw their winnings. With no pay n play mechanic, the user would then be required to send the casino virtual documents that contain their identification information. This includes pictures of the player’s ID, bank statements, and more. In this way, pay n play can save the player a lot of time and effort.

Baltic region is home to many respected casinos

To operate legally, every online casino needs an official license. The two most well-respected online casino licenses in Europe include the ones from the Malta Gaming Authority (MGA in short) and the Estonian Customs and Tax Board (EMTA).

The MGA license has been around for a much longer time, which is why it has traditionally been more widespread than its Baltic counterpart. However, in recent years, there has been a surge of new online casinos that have opted for the Estonian license instead. Over time, the players have also gotten more used to the Estonian license, which has recently given it even more traction.

Nowadays, many people are happy to choose a Trustly casino with an Estonian license—and for good reason.