How are payments innovating?

Gambling Insider spoke with Trustly, CoinPayments and MIDs on the innovations that are currently happening in the payment industry

TRUSTLY

How does Trustly stand out from other payment companies?

We utilise our proprietary open banking technology to deliver an exceptional payments journey. What sets Trustly apart is our ability to develop, own and maintain the entire infrastructure from end to end. Unlike our competitors who rely on integrating and leveraging external services, this gives us full control over the payment experience and enables us to innovate across the entire payments ecosystem.

The success and adoption of Open Banking, in which Trustly played a pioneering role, has raised expectations for flawless payment experiences. Merchants now demand more than just facilitating fund transfers; they seek business-enhancing services. With our extensive experience of over 15 years in open banking, we are positioned to meet and exceed these heightened expectations.

Trustly’s success stems from our ability to leverage a comprehensive payment ecosystem and offer innovative solutions to help merchants address various challenges, and create exceptional payment experiences for users.

How have things changed in the last 12 months?

We have recently expanded our revolutionary product, Pay N Play, to new markets. Pay N Play combines deposit and user verification into one seamless onboarding flow, allowing players to quickly start gambling by skipping lengthy registration forms, while also ensuring operators remain compliant. In the Netherlands, we introduced Pay N Play 2.0, which reduces the onboarding time to under three minutes by gathering information directly from the user’s bank, and incorporating iDIN and passport scanning services into one seamless user journey. We are working on launching our Pay N Play product in the UK market by allowing players to be onboarded and verified by simply depositing directly from their bank account. We launched the Trustly Express product over the past year. This feature allows users to store their bank account information for seamless and efficient recurring spending.

What does the future hold?

On 24 May, we introduced Trustly Azura. Much bigger than a simple product or new feature, Azura is a tangible manifestation of Trustly’s pioneering spirit, unrivalled bank coverage and long history in ‘digital native’ payments. An engine that will drive our new suite of products designed to revolutionise the merchant and consumer experience across European markets. By harnessing a sophisticated proprietary data model, operators can now personalise and optimise the deposit journey for users. This streamlined process will double the speed of deposit by requiring one instance of Strong Customer Authentication. Azura has the potential to boost conversion up to 95%.

Trustly Azura also allows operators to instantly recognise a player and present them with their last used bank account. This creates a seamless, safe and consistent experience every time they deposit or withdraw, eliminating the need for manual bank and account selection, as users will effortlessly see their last used bank account. Azura represents the first-ever at-scale implementation of a personalised payment experience, ensuring users enjoy a consistent experience across any operator with Trustly.

Coinpayments

How does CoinPayments stand out from other payment companies?

CoinPayments sets itself apart from competitors through its range of payment solutions and vast global user-base. Renowned for its strong reputation and extensive experience, CoinPayments delivers a payment platform that excels in crucial areas such as reliability, security, speed, user-friendliness and unparalleled customer support. By leveraging these strengths, iGaming operators can elevate their operational efficiency, increase revenue, improve customer satisfaction and cultivate long-term loyalty.

CoinPayments has proven itself in the realm of cryptocurrency payments, revolutionising the way businesses transact globally. Since 2013, CoinPayments has developed a complete crypto payment gateway that allows merchants to accept over 100 cryptocurrencies and hold over 2,000+ altcoins on a single platform, accumulating a user base of 1,000,000+ accounts and 120,000+ registered merchants.CoinPayments has low fees starting at 0.5% and is both a crypto payment gateway (150+ coins supported for payments) and a crypto custodial wallet (2,000+ coins supported for wallet). them in a crypto payments platform and we are prioritising our feature releases accordingly.

Mids

How does MIDs stand out from other payment companies?

We’ve been in payments since the late 1990s and with that experience have seen a lot of solutions come and go. Through this, we’ve formed a strategy of working only with acquiring partners who have a long track record and operators who take their operations very seriously.

How have things changed in the last 12 months?

In the last 12 months, the cryptocurrency landscape has seen several developments. There has been a significant surge in the adoption and mainstream recognition of cryptocurrencies, with major financial institutions starting to offer crypto-related services to their customers. Additionally, governments and regulatory bodies worldwide have been actively working on establishing clearer frameworks for cryptocurrencies, leading to increased regulatory clarity. At CoinPayments, despite these developments, the last six months have shown a downward trend in volumes. This is a general kind of outlook on the market as everything has been tightening up. The current situation is that people would rather hold onto crypto than use it. Essentially, we have gone slightly into a bear market crypto winter but there are signs that we are starting to come out of that now and we expect this trend to reverse.

What does the future hold?

We have had our heads down building in the same way that crypto projects out there do during a crypto winter. We plan to release a major update to our platform, making it faster, more scalable and more flexible. We speak directly with clients in the gaming space and know what’s important to

We are very selective about who we work with. Whether that is with a new acquiring partner or a new operator, we review each opportunity very closely to ensure that it’s the best fit for not only us but also for our partners and clients. We’ve avoided certain markets purely because we saw them as short-term, we prefer to look for more long-term commitments. We have a responsibility to our existing clients and partners to keep our portfolio clean and stable. We take this very seriously.

What drives MIDs success?

We’ve been fortunate enough to do what we do for a long time. A little luck never hurts and this has resulted in a lot of word-of-mouth referrals. Over the past few years, we also recognised the need to expand beyond one or two regions and have been able to expand our card and APM solutions globally. This helps us to board new operators but also allows us to better serve our existing clients as they expand their businesses around the world.

How have things changed in the last 12 months and what does the future hold?

We’re seeing operators expanding across regions very, very quickly. We’ve been in payments for a long time and have never seen such rapid development across the globe. New APMs are helping with this but it is a clear focus of gaming operators that we rarely see in other industries we work with.

We will look towards more expansion and better payment experiences for customers. There is a big focus on the ease and security of payments on a global scale. This has led to a lot of new developments and regions opening up over the past 12 months and it is only going to accelerate over the next year.