PayNearMe Partners With Trustly to Enhance Open Banking Technology
iGaming and Online Sports Betting clients benefit from Trustly’s guaranteed ACH payment option integrated into the MoneyLineTM Platform
SBC SUMMIT NORTH AMERICA, SECAUCUS, NJ, May 7, 2024 – PayNearMe, the fintech company bringing progress to payments, today announced a partnership with Trustly, the global leader in open banking payments. The integration of Trustly’s Open Banking solution provides operators with access to modern banking rails for real-time deposits and withdrawals.
With the integration of Trustly, PayNearMe’s iGaming and Online Sports Betting clients can accept guaranteed ACH deposits and instantly transfer winnings into player bank accounts. Players benefit by being able to fund their accounts in real-time using their secure online banking credentials; they no longer need to enter their bank account details.
“Our goal is to partner with best-in-class providers to offer a single integration and platform for all our clients’ payment needs, while ensuring they have a future-proof payments roadmap. As we continue to enhance the MoneyLine platform, we’re excited to partner with Trustly, the leader in open banking solutions for the iGaming and online sports betting market,” said Michael Kaplan, EVP and Chief Revenue Officer of PayNearMe. “Our iGaming clients get a proven, guaranteed deposit method, which reduces their risk, while their players get real-time access to deposited funds, improving their overall experience.”
PayNearMe’s iGaming clients can access pay by bank and other available payment types—cash, cards and mobile-first payment options including PayPal, Venmo and Apple Pay—all with a single integration and contract.
There is a clear move toward open banking and we recognize the immense value it brings to our clients,” Kaplan said. “We plan to expand our partnership with Trustly to incorporate additional open banking capabilities into our platform and enable all of our clients to benefit from this innovative technology.
“Trustly is proud to partner with PayNearMe, which shares our commitment to creating a seamless payment experience,” said Frederick Crosby, Chief Revenue Officer at Trustly. “This integration will streamline the transaction process and offer secure Open Banking Payments for both operators [with instant deposits] and players [with instant payouts]. We look forward to growing this partnership as the demand for Open Banking solutions continues to rise.”
PayNearMe’s MoneyLine platform is purpose-built for the unique regulatory and payment complexities of iGaming and online sports betting. The company currently facilitates deposits and payouts for licensed operators in 25 states. Click here to book a demo of PayNearMe’s MoneyLine platform.
About PayNearMe
PayNearMe develops technology that drives better payment experiences for businesses and their customers. Our modern, flexible and reliable platform helps businesses increase customer engagement, improve operational efficiency and drive down the total cost of accepting payments.
MoneyLine™, powered by PayNearMeⓇ, simplifies end-to-end money movement for iGaming and sports betting operators. It delivers the most reliable payment experience across key touchpoints with players, including cashiering, deposits, payouts, cash at cage, engagements and more. With one platform and one integration for key deposit and payout types, operators can reduce costs, get to market faster and make the entire payment experience seamless for their players. Player insights within the platform deliver a holistic view of key player and payment metrics.
PayNearMe has been servicing the iGaming market since 2013 and is currently active in 25 regulated gaming markets in the U.S. The company processes cash deposits for 16 of the 17 largest online casinos in the U.S. and 9 of the 10 largest U.S. operators, including BetMGM, TVG, PointsBet, FanDuel and Caesars Sportsbook.
PayNearMe understands the importance of responsible gaming. We support our partners and affiliates in their effort to provide a safe environment that adheres to applicable responsible gaming requirements in the market.
PayNearMe has enabled cash payments through our proprietary electronic cash network since 2009, and today is accepted at more than 62,000 retail locations in the U.S.
To learn more about PayNearMe, please visit www.paynearme.com. Follow PayNearMe on X, LinkedIn and Facebook. The PayNearMe service is operated by PayNearMe MT, Inc., a licensed money transmitter.
About Trustly
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity, and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to traditional card networks at a lower cost. Today we serve 8,300 merchants, connecting them with 650 million consumers and 12,000 banks in over 30 countries. In 2023, we processed over $56 billion in transaction volume in our global network. Read more at us.trustly.com.
