iGaming is one of the fastest growing industries with exponential rises in profit, user base and consequential advancements in all its aspects. With payment processing in the center of its success rates, it is no wonder that new, as well as existing service providers have put in a lot of effort towards improving functionality and optimizing operations.
In this regard, new, revolutionary formats of these services have started emerging in their test form or as ready-made inventions. Application differs across these releases, mainly based on the degree of simplicity it introduces to the process of paying or cashing out from the latest top-ranking online casino sites.
Pay N Play is one such revolutionary breakthrough in the sphere of online payment processing. Its instant yet significant results boost its claim more than any technical property explanations. Nevertheless, learning how it works and the proper way to use it at your favorite casino operator platform is definitely worth the time and effort.
About Pay N Play (by Trustly)
Pay N Play is only the latest payment processing product of the recent, yet established finance management brand Trustly. What first started off as a bank account payment facilitator for its homeland Swedish market has nowadays turned into a European, if not global online payment processing service.
Trustly was initially established back in 2008, in Sweden, and has since expanded to cover nearly 30 countries and hundreds of banks under its umbrella operations. The main headquarters remain in Sweden, but the company has further expanded its branch offices to Malta, UK, Germany and Spain, practically aiming to perfect the service provided to European market segments before moving onto new territories.
Initially...
...the mechanics of their e-wallet service didn't differ greatly from others that had already made a debut to the online casino market. While Trustly aimed to expand to other industries by offering its services at e-commerce platforms, all kinds of online shops, they ultimately functioned much like any other such company that appeared around that time.
Performing the role of a mediator between the e-commerce platform and users' bank accounts, they managed to save them the trouble of sharing such private information with various platforms, operators included.
In an attempt to take their payment processing service to the next level, developers at Trustly recently released their newest solution. So far, it specializes in advancing payment processes in the online gaming business but should be able to fit its application across multiple platforms in due time. Known as Pay N Play, this product by Trustly received massive approval by their target user audience, mainly due to the exponential benefits in resulting reports.
How Does Pay N Play Work?
Pay N Play has the potential to cater to many different types of online commercial businesses but was initially introduced as a payment facilitator for the iGaming industry. With all the diverse banking options available so far, security and compatibility were often improved at the expense of speed and functionality. In order to remedy such inconsistencies, the company offered a whole new approach to the matter.
This processing option has an innovative approach that not only aims to facilitate payments but also to advance operators' functionality in remaining KYC-compliant.
It operates as a one-stop solution for:
player registration
deposits
conversion
withdrawals
As well as player retention and ultimately operator compliance.
To Get Started
Choose from the constantly rising number of operators providing Pay N Play as part of their banking option. Access the website as a new player, and instead of looking to fill in a lengthy registration form, you can directly go to your online bank account, transfer as much money as you wish to repurpose for your bankroll needs and get down to online casino gameplay.
What is unique...
...about the following operation is that it functions basically as a background process. While players access their online bank account without even switching websites, the service not only processes the payment, but also transfers all necessary identification information to the operator. The latter, thus, creates a player profile, and account, so players need not worry about unreliable way of directly accessing casinos and playing games without any form of identification.
The familiar process of accessing your online bank account both simplifies the registration process and at the same time provides a basis for identification verification. After all, each online banking access point is normally secured by two-factor authentication. Thus, players' finances and information are all but isolated, as the first factor includes username and password, while the second includes a token or smartphone one-time security code.
With all that in place...
...once players wish to return to the website for a second visit, they will not find themselves at a loss of an account. All they need to do is once again log into their online banking service, and perform either a deposit or withdrawal, depending on the purpose of their visit. The platform will have already accumulated information on the given player, and generated a separate profile, so it will directly associate the current activity with previous ones.
Online Casino Payment Method
So far, this is, in fact, the sole use of Pay N Play, although projections have been made for launching the payment solution to other global markets, and more diverse e-commerce purposes. Currently, there are a growing number of online casinos that have implemented this payment processing option to their website platforms.
In this regard, we can differentiate between two different types of online casinos offering this payment method:
Pure Pay N Play Casinos
These casino operators are characterized by the fact that they tend to include Pay N Play as their sole payment option. Such an approach is most suitable for new releases that are entering the business, as well as old ones which are looking to rebrand their existing offering.
Customers at such platforms are able to enjoy the full range of conveniences straight upon accessing the platform. What is more, when they decide to return to the platform, players will only need to verify their identity through the same online banking system. This gets them instant access to their account and their respective bankroll balance.
Withdrawals from such Pure Pay N Pay casinos are just as instantaneous, as the player's account is already directly connected to the online banking system. Thus, any win amount can be transferred to your regular account and used for all purchases.
Hybrid Pay N Play Casinos
Existing online casinos looking to enrich their payment processing methods selection instead of recreating it as a dedicated option are known as hybrid. They still offer the same advantageous functionalities of the service, only out of a pool of options.
Hence...
...when players access their chosen Hybrid casino model for the first time, they will need to register for an account or make a Trustly deposit. Moreover, every time they return to the site, they will not be given the Pure casinos' option to “Continue playing” simply through their bank account. Instead, they will need to log in using the registered username and password or make a Trustly deposit in order for the operator to identify their player profile.
The Benefits
It is a rather innovative payment method, but despite being a novelty, it is recognized and applied in a drastically growing number of casinos. A major boost in this direction is the massive 44% increase in deposit transactions made in casinos offering Pay N Play, rather than those that still refrain from including this payment solution.
In regards to player advantages when using this payment method, the following seem to stand out the most:
Speed of transaction – It has become a standard feature in the iGaming industry for providers to enable their players to make instant deposits. While this was initially prompted for player convenience, it also served operators to reduce the number of registered accounts that never perform a real money deposit. Nevertheless, withdrawals with existing processors still take significant time to reach player pockets. Pay N Play's ability to cashout winnings in real time, straight to players' bank accounts is a major advantage.
Player protection – The specific way of performing payment processing operations allows the service to provide security alongside its massive convenience. Its background process of accumulating player information and creating an account without any additional credentials to remember eliminates the risk of potential human errors. At the same time, such a ‘mediatory' approach provides just the right extra layer of protection between players' personal banking and the online casino platform.
Ease of use – Pay N Play, as the name suggests, is all about optimizing the player's experience. It eliminates all sign-ins, provides a direct access point to the player's bank account and processes both deposit and withdrawal transactions with real-time functionality.
Operators are alike prompted to include this solution by Trustly in their banking section, due to their fair share of advantages:
Legal compliance – The Know Your Customer regulations imposed by respective online casino authorities are met with bank standard precision. After all, the platform adopts the player information from their online banking service, thus ensuring that Pay N Play casinos comply with this major regulative at all times.
Player-oriented service – The benefits listed above prove that this payment option will see players gain in gameplay experience quality. Thus, operators willing to subject to the process of implementing Pay N Play in their Cashier page inevitably qualify as player-oriented.
Player acquisition – With an over 40% increase in player deposits at Pay N Play casinos, it is evident that one major benefit of this service is registered in terms of player acquisition. While other payment methods are less direct in guiding players to make a deposit upon registration, this solution practically sums the whole procedure down to those few steps.
Player retention – Retaining players at the platform is even more difficult, as they tend to forget their usernames, passwords or banking credentials used so far. All this causes additional hassle and ultimately puts players off a certain casino platform. Pay N Play eliminates the appearance of such issues to a minimum and thus gives casinos more advantageous circumstances for player retention, or even reactivation.
Player conversion – Converting newly registered players or one-time depositors into regular visitors is yet another benefit. Even players wishing to make use of no deposit bonuses are required to process some funding for the purposes of an account with their chosen website. Thus, operators will be able to stabilize and accumulate traffic, while players get a more personalized, dedicated and optimized gambling experience.
Pay N Play Casinos
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Which are some online casino platforms offering players Pay N Play as a payment processing solution?
Ninja Casino, Betsson, No Account Casino, Snabbare and Comeon online gambling platforms are just some of the website destinations that allow players to enjoy Pay N Play-funded gameplay action.
Are there any fees attached to deposits and withdrawals?
Pay N Play is just one of the e-commerce and iframe payment processing solutions from the Trustly brand. Thus, deposits and withdrawals made using this service are just as low and practically insignificant as the ones online players are familiar with when using Trustly as a banking method.
What are some future projections about this payment processing service?
Massive potential for future expansion has been identified, not only in iGaming, but e-commerce in general. Thus, people browsing online and coming across ads for casinos, poker rooms or other gambling sites, or even online retailers, will be able to see the advertised offer.
Straight from there, customers then be able to access the online banking of their choice, make a bet or payment without any prior access to the advertised site, and continue their browsing from the same spot. Such future projections promise much greater functionality of the World Wide Web.
Which are some suitable alternatives to this payment processing method?
E-wallets are considered the closest to Pay N Play, although other more contemporary payment methods such as prepaid cards and online processors are also suitable alternatives.
Is there any country or device restrictions to using this payment processing service?
Online casino players can enjoy seamless and instant deposits and withdrawals with Pay N Play regardless whether they access them via computer or straight from their preferred mobile sites. However, their country of residence may be an issue, as this Swedish service has gradually progressed to partnering with other banks, and is nowadays available in 29 European countries. However, players outside these regions will need to find a different payment option.
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