Pay N play method aims to innovate the iGaming industry

"Ensuring a fast, simplified experience across different devices"

This interview was published in the Autumn edition 2019 of SiGMA magazine, Issue 9. Read similar articles in the digital edition here.

Vasilije Lekovic, director of gaming accounts at Trustly, a Swedish fintech company that makes online banking payments fast, simple, and secure sat down with SiGMA to discuss how the Pay n play® model is revolutionising the player experience.

 Let’s talk about the pay N play model. How is it streamlining the process for players?

Trustly’s aim has always been to bring innovation to gambling. The way Pay N Play works is by deviating from the regular ways players tend to create their account before playing, such as by filling out lengthy registration forms or sending in proof of identity. Players can instead circumvent this journey completely by paying their deposit directly from their bank. The account can then be created and verified through Trustly by the collection of KYC (Know Your Customer) data. The data is then shared with the operators, allowing the player to get straight to playing. This has brought extremely good results across multiple markets since introduction in 2015. Today we serve around 70 brands with Pay N Play products throughout Sweden, Finland, Germany, Estonia and The Netherlands and very soon we hope to launch in other markets as well.

Why do you think it has been so successful in the sports betting and gambling industries?

The main advantage that Pay N Play brings to gambling operators is a simplified and improved user experience for their players, an enhanced KYC and verification  process and an instant pay out product. These days players expect a quick and simple experience - a no hassle registration and instant payouts. And that’s exactly what Pay N Play provides.

 Can you explain in more detail how pay N play models cater for this new generation of players?

Users are looking for instant gratification. They don’t want to be tied down to a lengthy registration process; they don’t want slow, outdated methods. Pay N Play addresses this need by ensuring a fast, simplified experience across different devices. It plays right into the requirements for the new, millennial players, who want a quick and intimate experience, both before they start playing the game and also when it comes to getting their money back into their bank account. And Pay N Play offers that – by including one click instant pay outs, which is an important advantage in this era.

So we could say that combining the registration and deposit step has had a positive impact on player retention for operators.

 

Vasilije Lekovic - director of gaming accounts at Trustly.

 

Yes, especially for player acquisition, player retention, player conversion and player re-activation. It’s had an extremely positive impact on all those parameters. The lengthy registration process can be a huge drop out point for users. With the Pay N Play solution, this issue has been addressed, it’s a super simplified experience. What we see in markets where we have launched the product, is that more and more users are shifting towards websites with Pay N Play and away from traditional gaming websites because they know that they get a user experience which allows them to enjoy playing without wasting time on lengthy registration systems and tedious identification processes.

Compliance is a hot topic for operators nowadays. How does pay n play fit into this equation?

Pay N Play helps operators to fulfill both Danish and MGA KYC requirements by providing verified KYC data to operators. This helps them to optimise their KYC processes and prevent fraudulent activity. The majority of the collected KYC data comes from the user’s bank, where the user has already established their identity when opening a bank account by providing personal documentation.

 What’s next for Trustly?

For about a year now, we’ve been working on a new innovative feature called In-Banner Betting. Imagine a banner on your favorite sports betting website that gives you special odds on the weekend’s big football derby. Instead of looking at the odds and then leaving the website to register, deposit, and place a bet, Trustly’s In-Banner Technology makes it possible for you to complete the entire process simply by placing a bet directly from the banner. You don’t even need to leave your favorite sports news website.

Trustly is already live with the basic version of the product with Catena media, one of the biggest European affiliate companies. And we’re currently working with multiple affiliates and operators on launching this across different brands and markets. We strongly believe that In-Banner Betting will be another game changer and that it will disrupt the whole industry!

About SiGMA Expo:

The iGaming summit SiGMA is setting its sights on Asia. Our ground breaking Asian iGaming expo will be held in Manila, on the 8th & 9th of June 2020. SiGMA’s largest venue to date will bring together high quality conferences and content, premium networking opportunities, and luxury networking event. 10,000 delegates from across Europe, the US, and Asia are expected to attend, making this one of the biggest shows to unite East and West in the region. To become a part of the fastest paced Asian iGaming event, book a pass or sponsor & exhibit.

For those planning to attend SiGMA Manila, AIBC Manila and ICE Asia at SMX on June 8-9th, this is the buzzing business environment to be expected:

 

 

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