Online payments provider Trustly has announced the launch of its first product built specifically for land-based gaming.
Dubbed Trustly Live, the new solution aims to support casinos and sportsbooks in removing the need for cash as society continues its journey towards a cashless ecosystem.
According to a 2018 national survey in Sweden, only 13% of nationals reported using cash for a recent purchase – down from around 40% in 2010.
Furthermore, handling cash can be costly for land-based gaming operators – typically costing approximately 5%.
Samuel Barrett, director of Gaming, Trustly, said: “The launch of Trustly Live will help land-based operators thrive in today’s increasingly cashless economies. Cash handling is expensive, unsafe and, frankly, outdated.
“Consumers are already adopting safer and more convenient ways to pay and Trustly is excited to be bringing innovation to the land-based gaming world by helping operators keep pace with their players’ preferences.
Trustly Live can be integrated as a deposit method at tables, CRTs and cages; players can scan a Trustly QR code with their smartphone and deposit funds from their online bank account.
The solution aims to support operators with the customer demand and modern preferences whilst also cut cash handling costs.
Additionally, Trustly Live has been developed to also strengthen KYC and AML checks to help the trackability of players and meet increasingly strict regulatory requirements.
The solution is currently live with Cherry Spelglädje in 45 locations and Trustly plans to expand across Europe in the coming months.