Payment Method: Trustly

Trustly: Open Banking’s Rise in Online Gambling

Trustly was founded in 2008 in Sweden, pioneering an approach to online payments that differs markedly from e-wallets or prepaid vouchers. Rather than requiring users to create an account, top up a balance, or purchase a voucher, Trustly connects directly to a player’s own online bank account, using open banking technology to initiate transfers in real time. This means deposits and withdrawals move straight between a player’s bank and the operator, with no intermediary wallet involved.

The model emerged from a broader shift in European finance towards open banking, a regulatory and technological movement that allows third-party providers to access banking infrastructure, with customer consent, to facilitate payments. Trustly built its entire business around this principle, positioning itself as a bridge between banks and merchants long before open banking became mainstream.

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Why iGaming operators have adopted Trustly

Trustly’s model addresses several pain points that had long affected online gambling payments, which explains its rapid adoption across the sector.

Speed is a defining feature. Because transactions run directly through a player’s bank, deposits typically clear instantly, and withdrawals are often processed considerably faster than traditional bank transfers, in some cases within minutes rather than days.

Simplicity is another major advantage. Players don’t need to register for a separate account, remember additional login details, or manage a preloaded balance. They simply log into their own bank to authorise a payment, reducing friction at the point of deposit and helping to lower cart abandonment for operators.

Security and trust also play a significant role. Since Trustly never stores card details and transactions are authenticated through the player’s own bank, using the same security protocols as regular online banking, it appeals to players wary of sharing financial information with third parties.

Withdrawal reliability stands out too. A common complaint across the payments industry involves slow or unreliable payouts; Trustly’s direct bank connection helps operators offer withdrawal speeds that are difficult for card payments to match.

Finally, Trustly’s strong footprint across Europe made it a natural fit for iGaming brands targeting markets where open banking adoption is high, including the Nordics, the UK and much of Western Europe.

As regulatory scrutiny of gambling payments continues to evolve, Trustly’s transparent, bank-verified model has positioned it favourably compared with more anonymous payment methods, making it an increasingly prominent choice among iGaming operators.