Trustly and Acres Bring Pay by Bank to Casino Floors

Trustly has launched a partnership with Acres Manufacturing centered on the gambling industry.

The collaboration, announced Monday (Oct 6.), involves using Trustly’s cashless gaming tool Scan & Pay in tandem with Universal Payment Adapter, enabling instant funding to any slot machine or table game.

“Through this collaboration, players can fund slots and tables through their bank account by scanning a QR code, bringing the speed, security, and convenience of Pay by Bank to the casino floor,” the companies said in a news release.

According to the release, Trustly Scan & Pay requires no sign-ups or downloads, letting players electronically fund games without requiring a player card, mobile app or digital wallet. Rather, they scan a QR code displayed by Acres’ Universal Payment Adapter screen to initiate a bank transfer that completes within seconds.

Scan & Pay, the release added, lets casino operators recover the approximately 6% of revenue lost to cash handling costs while making sure each transaction is “instant, guaranteed, and backed by bank-level security.”

Aside from cost savings, Trustly and Acres’ partnership is designed to boost player spending, as data shows cashless players increase their coin-in by 38% versus cash-based play.

“The Universal Payment Adapter gives casinos a true plug-and-play cashless interface that requires no additional technology integration and boasts widespread regulatory approvals throughout the United States,” said Noah Acres of Acres Manufacturing.

“By linking it to Trustly Scan & Pay, casinos can offer their players a way to fund games electronically that’s quicker and easier than cash.”

PYMNTS spoke earlier this year with John Parsons, vice president of gaming at Trustly, about the use of pay-by-bank solutions in the world of sports betting.

‍“It’s very frustrating for a player to deposit money [on one site] and then have it [stuck] there for three to five days because of processing times,” Parsons told PYMNTS.

As that report noted, consumers today can order groceries for same-day delivery or stream entire seasons of shows in one sitting, which can make waiting days for a payout or a deposit to settle feel archaic. This is particularly true for sports bettors, whose entire experience is centered around the rush of the moment.

Today, players can benefit from instant payouts via payment rails such as the RTP® network, where players can transmit money in 15 seconds, Parsons said.

“As more consumers become comfortable with digital banking, pay-by-bank solutions are also gaining traction in the sports betting world,” the report added.