Trustly's instant payout coverage in Europe continues to improve
Today, our foundation in payouts is strong enough to make us the most comprehensive provider in Europe — and we're continuing to expand our footprint.
Download this PDF to see a breakdown of our European payout coverage as of May 2021.
- We now offer instant payouts across Europe nearly 100% of the time
- Multiple payout schemes are integrated with our bank network to provide comprehensive payout coverage
- Most recent notable improvements is increased instant coverage in Belgium, France, Italy, Spain as well as the UK.
Though we're known for our payment solution, especially in the gaming industry, payouts is actually where Trustly got our start. For the past 10 years, we've invested heavily in building a complete end-to-end solution including deposits KYC and payouts where we now offer the latter across all of Europe (excl Switzerland).
Since Trustly is always in the flow of funds, we are able to issue payouts back to the same account from which players deposit, closing the loop and supporting AML compliance. This withdrawal model has been especially popular with European players in our market-leading solution Pay N Play®.
Instant payout coverage across Europe
Trustly utilizes a proprietary network of bank accounts and instant schemes to deliver the fastest possible settlement. This unique bank model makes instant settlement and payouts possible.
Our research shows that faster payouts contribute significantly to increased conversion, player retention and long-term loyalty.
Over the past few years, we've improved our coverage and can now boast instant payouts across Europe nearly 100% of the time. As a result, we are now offering 100% instant payouts in the United Kingdom (and the Netherlands by the end of summer) on a 24/7 basis.
Other notable recent improvements include 95% instant support in Spain and 85% instant support in Italy. Furthermore, we are increasing our footprint in other markets (like Latvia), by adding local account presence, enabling domestic instant payouts for locally licensed operators.
One quality that we know many merchants highly value is the fact that we offer all these markets through a single integration. Eliminating the need for multiple integrations and various reporting models allows operators to focus their development resources on other initiatives.
In our existing markets, we now offer multiple routes to execute payouts from, allowing operators to reduce cost and improve user experience at the same time. It is important to highlight that Trustly is not only investing in new routes that further reduce 'time-to-money', but we are also investing in adding redundancy, aiming to further protect and ensure continuous operation with no compromises.
So how do we do this? In addition to our own bank accounts, we have integrated multiple additional payout schemes including SEPA Credit Transfer, SEPA Instant Credit Transfer, Target 2, Faster Payments (UK), Straksöverförsel (DK) and other local schemes. Where relevant we also have redundancy built in, both in how we integrate the banks and with multiple banks supporting us.
This model allows us to support instant, fast and slow payouts across Europe. It is important to note that other Open Banking vendors can't offer this level of flexibility and capacity.
We're continuing to improve this coverage. We'll share updates in the next edition of our newsletter — stay tuned!
Want to learn more about our payout coverage or any of our solutions for gaming operators? Please get in touch.
Winning with Open Banking Payments in the UK
As consumer awareness and adoption of Open Banking Payments is booming, Trustly is helping operators provide players a winning customer experience in the UK.
Trustly PSD2 update: Spring 2021
Here's our regular update of PSD2 state of play in H1 2021. This is an evolving topic that we will continue to address on an ongoing basis.
Webinar on demand: Scan N Play
How can land-based operators join the cashless payments revolution? Watch this pre-recorded webinar with Trustly's Sam Milton to find out.