Trustly continues UK Open Banking expansion with Betway launch

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Payments provider Trustly has continued its UK expansion by launching Open Banking functionality with Betway.

Trustly’s Open Banking product is already in use at major UK operators including Entain, Flutter, Kindred and 888 and has been expanded to include the flagship Super Group brand.

Following the recent acquisition of UK-based Open Banking Platform Ecospend, Trustly expects accelerated growth in the region.

Trustly VP of gaming Vasilije Lekovic said: “We are very pleased to extend our long-time partnership with Betway to the UK market as well.

“The shift from traditional payment solutions, such as cards, towards account-to-account payments in the UK started last year and continues to accelerate, and we expect that user adoption rates will continue to grow.

“Trustly is in a great position to lead this growth, offering a frictionless payment experience that allows users to deposit directly from their mobile banking app using biometric verification, as well as an unparalleled reconciliation, reporting and risk management platform that will help our gaming merchants lower their operational costs,” he added.

Trustly VP of gaming Vasilije Lekovic: “The shift from traditional payment solutions, such as cards, towards account-to-account payments in the UK started last year and continues to accelerate.”

According to Trustly, account-to-account payments in the UK market have grown in popularity over the last 12 months, surpassing five million consumers.

Betway marketing and operations director Paul Adkins said: “We’re very excited to have added Trustly to our bank of payment methods for Betway in the UK.

“As open banking is becoming more popular in this country, we wanted to find a partner whose banking solutions offered our customers a seamless experience, which is important for us as one of the UK’s leading operators.

“Staying up to date with the latest payment methods is vital for our UK business, and we’re looking forward to working together with Trustly with the sole aim of achieving the best open banking experience for our customers,” he added.

Since launching account-to-account payments in 2008, Trustly has seen significant success in the Nordics as well as Germany and the Netherlands.

More recently, the company has continued its product expansion into other markets in Europe, as well as the US and Canada.

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