Trustly Online casinos
A 25% stake in Trustly in 2011, was sold to Alfven and Didrikson, an investment group company. Trustly also entered into a partnership with other payment options like PayPal, TransferWise, and Payout Express products to increase its market share and transactions. This partnership led to an increase in transactions to over 10 million, making Bridgepoint capital a risk capital firm invest about 23 million sterling pounds to gain a stake in Trustly. In 2016, Trustly introduced a functionality Pay N Play that revolutionized the online gambling scene. This tool made online payments and withdrawals from online casinos and other betting operators secure, fast, and straightforward.
Considered as the most used payment system among European countries, Trustly payment option or method enables its customers to shop and pay directly from their bank accounts. Trustly was founded in Stockholm, Sweden, in 2008, and the same year it became a payment option for online commerce stores and online casinos in Sweden. Between 2009 and 2010, the number of investments into the fintech company increased immensely, which led to unprecedented growth in 2010. With its revenues skyrocketing to up to 200% Trustly saw the need to bring on board more online retailers and other sites that needed a payment method like online casinos. They also started to expand into international waters when they opened their office in Malta, which catapulted the company's transactions to up to a million.
Ranked at 242 in 2017 as the fastest-growing company in 2017, Nordic capital bought a 70% majority stake in Trustly with over 700 million Euros. These has led to a partnership with over 6000 banks and financial institutions across the globe. Among them is PayWithMyBank in Silicon Valley United States. These partnerships have led to an increase of transactions into billions, and also more than 95% online casinos in Europe accept Trustly as a payment option for their players.
As much as the growth and establishment of Trustly as a go-to online banking system has been smoother than some of the other payment methods, it has had its fair share of controversy. In 2013, Trustly faced accusations from its competitor bank that it had logged into a client's internet banking and gained access to the client's private financial details. The competitor bank argued that Trustly had breached the client's confidentiality, and this led to a sharp decline in transactions from both online retailers and online casino players. In 2016, when PayPal switched to Trustly as its online banking partner, there was a public outcry from the polish players and PayPal users due to the 2013 scandal. Trustly argued that it had an explicit agreement with its users on what information to access and which not to.
Trustly Deposits and withdrawals
Trustly basically enables you to transfer money instantly from your bank account to a Trustly accepted online casino or online retailer. With Thousands of online casinos accepting Trustly as a payment option in almost all European countries and outside, Trustly does not charge any extra fees or require registration.
How to deposit into a Trustly Online Casino?
- Like any other payment method out there, you first have to choose an online casino that is secure, fast, and legit. Most importantly, it should accept Trustly as a payment method. It's worth mentioning that you might see an "InstaBank" at the payment options; don't worry. This is the original name of Trustly.
- After registering and verifying your online casino account, log in and go the banking or payments page.
- Choose Trustly as the payment option and enter your banking details in the pop-up window. These might require an identification verification.
- Enter the amount you wish to deposit while keeping in mind the maximum and minimum and the transaction costs. You will receive a secret code that you will use to confirm the transaction. The cash should reflect immediately in your online casino wallet. Trustly transaction speed is very high compared to other payment methods like Maestro and MasterCard credit and debit cards. It takes a maximum of 5 minutes for the transaction to go through.
How to make a withdrawal using Trustly from an online casino?
Withdrawing money from your online casino wallet using Trustly is more of the same as depositing, if not simpler. Go to the banking and payments page in your online casino account and choose Trustly as your withdrawal option(also look for InstaBank).On the pop-up window, enter your banking or financial details. Enter the amount you wish to withdraw and confirm through the one-time secret code. If your Bank supports the Trustly payment option, the withdrawal should be instant, but if not, it might take up to 72 hours for your transaction to go through.
It is worth noting that there are mobile online casino operators that accept the Trustly payment option. Trustly was tailored explicitly for devices like smartphones hence the fast, easy, and secure transactions.
Pros and Cons of Trustly.
- It is fast and easy, as you do not need to follow a tedious registration procedure before your transaction is accepted. You need to enter your banking details, and there will be an instant withdrawal or deposit.
- There are no money transfer fees involved, unlike the other banking options like credit and debit cards.
- It is fast, easy, and secure to deposit and withdraw money from your online casino due to its high-end security features and encryption.
- Trustly also shields your banking details from other third parties and even the online casino itself.
- To deposit or withdraw your money instantly from the online casino, Trustly has to be a supported payment method for your Bank. If not supported, the transaction might take as long as three days.
- In case of any disputes or problems, it is hard for you to get help as Trustly does not have an online customer support system.
- Making withdrawals and deposits using Trustly into online casinos can only be done in European countries where it is fully supported and accepted.
Trustly Casino FAQ
Is it safe to play at Trustly casinos?
Yes, Trustly is a licensed and approved payment service provider in almost all European countries. Just like other payment options, it's regulated and supervised by Sweden financial Supervisory authority. It is also heavily encrypted with high-end security features hence totally safe if handled well.
Do every casino accept Trustly?
Most of the European countries' online casino operators accept Trustly as a payment option for its players. Other top casinos outside of Europe do not accept Trustly as a payment option as most Banks in these regions do not support it.
Are Trustly casinos legit?
Yes, Most of the online casinos that accept Trustly are 100% legit as Trustly thoroughly vets them before agreeing to be their payments partner. Trustly can easily part ways with any online casino if it feels that the online casino operators are breaking the rules.