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Trustly vs. PayPal at Online Casinos
Online payment processors...
... have completely swarmed the modern financial management scene, with instant transactions and low-cost services attracting users from all sides. These companies mainly represent the newer generation of the industry, with only a few holding their ground since the early days of online payments.
... more than enough have sprung up in the years following the appearance of the Internet, ultimately creating an abundance of options for the potential customer pool. Some of these services may seem much alike on the outside, but they tend to offer different services and sets of features at a closer look. That’s why a more thorough preview of their key features will definitely help you make up your mind more easily than risking your funds with untested option.
When it comes to Trustly and PayPal...
... this is hardly even a possibility, but potential users are still advised to inspect the specifics of each service and choose according to their preferences. Both of these companies have an established customer base, as well as rather sustainable business operations; with the extensive experience and progressive management characteristic of both brands, online transactions are bound to be top-notch.
The Trustly brand of online payment processing service is owned and operated...
... by the Trustly Group AB, based out in Stocholm, Sweden. They are a known financial management company, and this payment processing solution known as Trustly is their most popular product, launched back in 2008. It has swiftly managed to grow and prosper thanks to its most beneficial mechanics, with transactions going from 1 million a year up to 2 million a month in less than a decade.
The Trustly online payment processing solution is more than an e-wallet, as it aims to function as a seamless intermediary between the banks and the merchants, with easy access to both accounts held by the customer.
In other words...
... Trustly successfully performs the role of a background processor – making the transfer, securing the information and handling the paperwork, while you get a clean bank report with regular payment details and no additional charges.
PayPal, initially known as Confinity...
... around its early founding years, around 1998, has practically been recognized as a pioneer in the field of online payments. The e-commerce payment processing company has been offering its customers a fully functional e-wallet product that can be funded through a range of banking methods, and later used at an even more extensive list of merchants.
... the long-standing history of the company, as well as their impeccable track record, PayPal’s availability and reputation rate is quite expected. Still, while the set of features offered by this e-wallet may fit the needs of some customers – online casino players, shoppers or even remote employees, it could be less suitable for others.
Payment Methods Comparation
|Payment method name||Trustly||PayPal|
|Available accounts||1 account (3 different free currency accounts)||2 accounts (1 personal + 1 business account)|
|One time signup bonus||n/a||n/a|
|Account management fees||free||free|
|Account unused||unused for 12 months: 1.50 EUR/month||free|
|Exchange fees (FX)||2,99% (2,99%; 1,49%; 1,49%; 1,25%), 1,49% with eWallet-Optimizer||2.5%|
|p2p Money transfer|
|Send money p2p||free||free|
|Receive money p2p||free||Free for p2p in same country and currency by using bank or PayPal balance only. By transferring money internationally, with different currencies or by using a credit card the fee is between 2.9% + 0.30 USD (from US to US account) and 7.4% + 0.50 USD (from US to Brazil account) –> PayPal User Agreement #Receive Money|
|Instant bank transfer||n/a||free|
|Credit card||1.69%||between 2.90% + 0.30 USD and 7.40% + 0.50 USD|
|Bank transfer||5.90 EUR||free|
|Prepaid card at the ATM||2% (minimum charge 1.50 EUR)||1.95 USD|
|To merchant site||free||free (only available at few online gambling providers)|
|PrePaid Card||ecoPayz Prepaid MasterCard – “ecoCard”||PayPal PrePaid MasterCard|
|Requirements to order||n/a||customer for 60+ days with premier or business account|
|Fee to order||free||free|
|Costs for cash withdrawals at the ATM||n/a||1.00 USD + 2.5% FX fees, 1% + 2.5% FX fees outside the US|
|ATM transaction decline fee||n/a||1.00 USD|
|Costs at points of sale||free||free|
|Stop payment fee for preauthorized||n/a||10 USD|
|Online bank statement||free||free|
|New PIN||0.50 EUR (PIN reminder)||free|
|New prepaid card||12.50 EUR||5.95 USD|
|Cash withdrawal at ATM limits/24h||750 EUR (750; 1,500; 1,500; 1,500)||940 USD|
|Points of sale limits/24h||2,000 EUR (2,000; 4,000; 4,000; 4,000)||5,000 USD|
|Delivery time||5 – 10 business days||2-4 weeks|
|Available currencies||EUR, USD, GBP||EUR, USD|
|Validation||4 years||3 years|
|Cashback and promotions|
|Promotions||(regular prize draws)||n/a|
|Two Factor Authentication||Two-step Authentication||PayPal Security Key|
|Fee to order||free app||29.95 USD|
|Delivery time||right after app installation is completed||n/a|
|Money-back guarantee in case of fraud||n/a||yes|
|Link to Terms & Conditions||https://www.ecopayz.com||https://www.paypal.com|
When choosing a suitable payment processor, it is best to start off with the type of account you have on offer, as well as its key features. An even better way would be to experience them personally, but if you don’t feel like opening an account with each provider until you find the best, an overview is the next best thing.
The interesting thing about Trustly is...
... that it will not ask its customers to open a separate account – it practically works as a mediator between your existing bank account and the specific e-merchant. This non-invasive approach is all the more evident, as Trustly functions directly through the online version, and does not require any specific software downloads or additional setups.
Despite the lack of an official account, so to speak, the service does bear some of the distinctive features – availability, currency options.
In this regard...
... the service has specifically listed up to 29 countries from the EU/EEA so far as its main marketplace, and tends to process payments in Euro or a corresponding currency matching the merchant’s. Should you wish to make a payment through this method, in a currency other than the e-merchant’s, you will be charged a low rate (usually 2.75%) and will be able to complete the transfer immediately afterwards.
PayPal offers potential customers two types of accounts, both personal and business, in order to meet the needs of a wider pool. These users have different needs, and the accounts are designed to meet the specific profile; nonetheless, they both bear a distinctive characteristic – it is completely free of charge to open an account.
While business customers ...
...will be looking more closely into the mechanics of the e-wallet account and how it matches their specific platform, individual users have all but to fill in the details and get started with international payments.
Another plus is...
... that there are no fees for dormant accounts, meaning users can keep their funds stored without using them for any length of time. Online gambling enthusiasts will definitely find this handy when gravitating between the top PayPal online casinos without having to rush to the next one just to save themselves from additional charges.
Deposits, Withdrawals and Payment Processing
The specific nature of this payment service brings about its characteristics, and one of them is the fact that it does not store any value whatsoever.
In other words...
... due to the fact that it isn’t a practical e-wallet, there is no official customer account; hence, users will simply be spared all the usual processes and charges they are subject to when dealing with a different payment method.
... not only are customers saved the trouble of fees for funds transfers to and from their account, but also for using it as a payment method. Merchants featuring the icon in their banking page allow customers to simply process the transfer through the intermediary channel in the background, without charging anything for the payment service.
On the other hand...
As for incoming payments...
... i.e. placing value into your account, the terms differ across the options – direct bank transfers, as well as PayPal deposits to your user account are both free of charge. Alternatively, should you choose to fund your e-wallet account otherwise – credit card, ATM prepaid card or cheque – you will incur the following fees: 2.90% + 0.30USD – 7.40% + 0.50USD/ 1.95USD/ 1.50USD, respectively.
Physical Card Availability
The banking industry was largely revolutionized since the initial introduction of physical debit and credit plastic cards. These means of cashless transactions brought about a whole new era in financial management, and naturally left their mark for years after their invention. So much so that, even with the newer online payment processing services, the need for a physical card is all the greater.
The Trustly payment processing model does not require...
... funds storage, and has thus been able to avoid the need for issuing a plastic card under its brand name.
This processor, contrarily...
... has been present in the industry for a decade more than the respective counterpart. As a result, they have constantly needed to come up with a new and enticing tactic that would keep users coming back to the payment platform.
Considering the fact that...
... credit and debit cards have evidently managed to hold their ground despite the sudden rise in online banking methods’ popularity, issuing a card became practically inevitable for many of these services. PayPal issued their card in partnership with MasterCard – PayPal Prepaid MasterCard.
Due to the partnership...
... with the card company giant, it is available everywhere in the world where MasterCard has been accepted, and allows for a range of conveniences to its holders. Normally, they will need to pay a certain price for the convenience, with the most regular being a 4.95USD monthly membership fee. Moreover, a fee of 1.00USD + 2.5% FX is applicable to ATM withdrawals in the US, while international ones cost 1% + 2.5% FX fee charge.
... the card user can hold funds in either USD or EUR currency options, over the course of 3 years validity period. Additional advantages for PayPal Prepaid MasterCard users include POS daily amount limits – 5,000USD, and daily ATM amount limits up to 940USD.
Online gambling operators, as well as other e-merchant sites, tend to reward their regular customers and visitors with a range of benefits. Some choose random events or features, while others develop full-on rewards programs that track the customer’s progress and acknowledge it correspondingly.
With Trustly, both players and online shoppers alike are not to expect to be specifically rewarded for using this payment method in their online gambling or purchasing endeavours. This isn’t to say that the experience is completely unbeneficial – in fact, the users tend to enjoy quite an attractive range of advantages (speed, security, availability, charge-free service) that no additional program would be necessary to keep them coming back.
PayPal has taken up much the same stance as Trustly when it comes to additional user benefits. After all, casinos and remaining e-merchants have already been proven reliable in order to feature the payment methods on their website.
... players are just as recommended to benefit from their VIP Loyalty Rewards and programs as well. Some banking methods tend to include a dedicated program separately from the partnering merchants, but this is not the case with PayPal.
Only the specific PayPal Prepaid MasterCard offers its users a kind of a points-accumulation scheme. These individuals collect points based on their activity, and can use them consequently for additional rewards claims, discounts, cashbacks and more.
While many services tend to dedicate great efforts to come up with an attractive user benefit program, security of their information and funds always tops it in the list of priorities. Check out the specifics for these two payment processors in order to help you in your choice for a more suitable option based on your online gambling needs.
The Trustly payment processor does not require...
... users to store any funds with the service, as it isn’t a classic e-wallet. Nevertheless, they do employ the highest standards of encryption, as pointed out on their official website, in order to ensure the transfer goes smoothly and without any interference from malicious third parties.
What is more, the Trustly service is authorized and actively supervised by the Swedish Financial Supervisory Authority, meaning it adheres to rather stringent rules of operations. They are licensed as a European Payment Services Provider (PSP) under the latest regulative, thus enabling all residents of the EU/EEA zone to handle transactions freely and securely.
When it comes to...
... individuals and their secure experience with Trustly, it is important to note that they additionally go through necessary KYC and AML procedures. The information they provide is solely used to ensure the service’s compliance with such requirements in the given jurisdiction, without storing them and risking detection.
Aside from being authorized and licensed...
... by the respective regulatory bodies, PayPal has taken up further measures to ensure client protection. Transactions made by both individual users and merchants (holding private or business accounts) are actively monitored to avoid suspicious and harmful activities, and ensure the service remains compliant with specific legislature.
Individual users, specifically, are given the additional advantage of activating the Security Key feature. It comes at a single charge of 29.95USD for activation, and provides significant insight, responsiveness and faster resolution of fraud cases, cashback or return policies accordingly.
All in all...
... both of these payment service providers are bound to live up to your online casino player expectations. With shopping, online payments and funds transfers additionally available as payment options, users and account holders will definitely get the all-inclusive experience.
What is left for you to do is weigh in on the features, find a suitable operator that meets your gameplay needs and offers your chosen banking method as an option, and get started.
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Written by: Shelly Schiff