With the online casino market booming, it’s no surprise that players are looking for innovative and simpler methods to make and receive payments as bank transfers are outdated, insecure and have a lengthy sign-up process.
Fintech firms such as Trustly and iDEAL are now offering Pay n Play Casinos as a modern alternative with fast and secure payments, which is quickly becoming the new norm. But how do they compare and is there a place for Trustly in the Dutch market?
Trustly is a Fintech firm first launched in 2008 in Sweden. They develop and sell online payment solutions that are revolutionizing the worlds of e-commerce, travel payments, financial services and, of course, online gambling. Active in 29 countries, with a client base of 600m customers and an average of 9 million payments per year, Trustly has quickly become a European trailblazer.
They have become increasingly popular in the online casino world for their integration with the BankID system that has made it possible to seamlessly deposit and withdrawal money without the need for lengthy sign-up procedures.
Not content with the online casino world, Trustly is also making waves in brick-and-mortar casinos with an innovative cashless payment solution that will allow players to quickly deposit funds through a QR code attached to the table itself.
First launched in 2005, iDEAL is a secure payment provider based in the Netherlands. Similarly, to Trustly, they are quickly gaining notoriety and 2019 marked their biggest year yet with a market share increase of 20%. iDEAL has now been used for over 3 billion euros worth of payments and the number of stores outside the Netherlands offering iDEAL has increased by 137% to almost 17,000.
Like Trustly, iDEAL also makes use of innovative new mediums to deposit money and withdraw earnings. The system is available as a ‘payment button’ on e-commerce sites and no registration casinos in the Netherlands, as a QR code, and as a ‘payment link’ to other stores. QR codes can also be used as a form of payment request to another consumer. More of us than ever are using our mobile for the majority of internet browsing and banking, so iDEAL is adapting to this with 8 out of 10 payments now made through their mobile app.
iDEAL is becoming increasingly popular within the online casino world – some of the early adopters include sites like Boom Casino, Casimba Casino and Speedy Casino.
Can Trustly rival iDEAL in the Netherlands?
At the moment, iDEAL is only operating within the Netherlands so is far more adapted to this market than Trustly. As it’s available to customers of all 12 major banks in the Netherlands, there is seemingly little reason for the average Dutch consumer to start using Trustly over iDEAL.
It seems unlikely that Trustly will surpass iDEAL as the biggest secure payment provider within the Netherlands, given that the firm was originally built with the Dutch market in mind and can service it in a way that Trustly seemingly cannot. However, Trustly may be a more viable solution for Dutch merchants looking to expand globally. The Swedish firm works with plenty of big-name clients, such as PayPal and Shopify.
For online casino players too, Trustly may be the better call. While the number of sites offering iDEAL is growing by the day, Trustly is already established with some of the biggest sites in the industry, such as Leo Vegas and Mr Green. If you are looking to play on these top sites, Trustly is the way to go.