Pay N Play
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Pay N Play is one of the newest and most innovative products to hit the iGaming market. Launched in 2015 by Trustly, a Swedish online banking company, Pay N Play allows users to transfer money and start playing without any delay. The best part — you don’t even need an online casino account. Pay N Play is currently only available to players in Sweden, Finland, Estonia, Germany, and the Netherlands, given its early development stage.
Over a short period, Pay N Play has garnered a broad customer base. Although many people were sceptical at first, they soon realised the perks of using this payment option that streamlines transactions from their bank accounts directly to an online casino. Now, it’s safe to say that Pay N Play sets a new standard for the iGaming industry.
Speed and Safety of Pay N Play
Being a part of Trustly, the Pay N Play model is regulated and approved by the Swedish financial regulator, Finansinspektionen. According to the Directive (EU) 2015/2366 on Payment Services (PSD2) and the Payment Services Directive (PSD, 2007/64 / EC), Pay N Play holds a European Payment Provider Licence (PSP), allowing it to offer its services in different EU countries.
Pay N Play provides real-time deposits via the player’s bank account. There’s no need for additional accounts or mediators to facilitate the transactions — it’s all done instantly.
How Does Pay N Play Work?
Pay N Play is a product that keeps your data and money perfectly safe. By choosing an online casino that supports Pay N Play transitions, you’ll avoid the lengthy registration process and gain access to exciting gambling opportunities in a few clicks.
While signing up in an online casino sometimes results in a lengthy verification process, Pay N Play takes the waiting away and helps you skip all the tedious steps you’d usually have to take. Instead, the product connects you with an online casino via deposits directly from your bank account. That allows your data to be transferred through secure Trustly channels, making the entire process super simple.
Essentially, when choosing Pay N Play, you’re allowing online casinos to collect the necessary KYC (Know Your Customer) data from the bank. This leads to online casinos instantly creating virtual player accounts for their database. Of course, that means you won’t have to log in or share any personal information with the online casino. As soon as the deposit goes through, you can start playing.
How to Create a Pay N Play Account?
That’s just it — you don’t need an account to make deposits and withdrawals via Pay N Play. As a payment provider, Pay N Play doesn’t require any type of registration. Users simply don’t need an account to employ the services of this banking system.
The entire service works through instant bank transfers made via payment checkout. Pay N Play limits its involvement in bank transactions and only takes part in the technical processing of funds.
To start using Pay N Play, here’s what you need to do:
- Find an online casino with this service and choose the Play Now option.
- Initiate the process by choosing your bank from the dropdown menu.
- Use your bank ID to confirm your identity and select the amount you’d like to transfer.
- The bank will instantly release the payment and use Pay N Play as the mediator facilitating the transaction.
That’s it — as you can see, you won’t have to share any personal and sensitive data with the online casino or Pay N Play. The casino can instantly gather all the necessary information by using the KYC data, allowing it to accept your payment and give you access to its products.
Pay N Play Security Systems
Trustly Group AB and its Pay N Play product are regulated and controlled by the Finansinspektionen (Swedish Financial Supervisory Authority), which allows it to perform monetary transactions. As mentioned, Pay N Play has a European Payment Services Provider (PSP) licence according to the Payment Services Directive (PSD, 2007/64/EC) and directive (EU) 2015/2366 on payment services (PSD2).
Pay N Play never stores any information that could be used to access your bank account or personal information. On top of your bank’s military-grade security, Pay N Play employs state-of-the-art encryption protocols that protect all transactions and prevent any unauthorised access.
To complete the transaction via Pay N Play, you only need to use your bank ID or log in details that you normally use to access your online bank account. In any case, Pay N Play will never ask you for your bank login credentials. If Pay N Play needs to investigate a transaction, you’ll be asked to provide proof of payment, but that’s as far as it goes.
What Data Does Pay N Play Collect?
Protecting your information is one of the top priorities for Pay N Play. The service operates in accordance with the GDPR (General Data Protection Regulation) and collects only the vital information that helps it process your payment.
As mentioned, Pay N Play collects the KYC data from your bank and shares it with the online casino of your choice. Since you’ve shared the necessary details with your bank while creating an account, Pay N Play will only gather the information that confirms your identity and allows for a smooth and swift bank transfer.
Your transactions are monitored to ensure they comply with applicable regulations regarding the financing of terrorism and money laundering.
Given that Pay N Play is a mediator between your bank and the online casino, your sensitive personal information will be kept private.
Doing Business With Pay N Play
Trustly Group AB has over 500 employees and cooperates with over 6,000 banks and 8,000 merchants, while its consumer reach exceeds 525 million. Thanks to its Pay N Play product, more businesses look to partner with the company and boost their payment services.
Although Trustly is a preferred payment model in four giant industries (e-commerce, iGaming, financial services, and travel), its Pay N Play product is created especially for online gambling platforms.
Operators who wish to do business with Pay N Play can choose between two models — Pure and Hybrid. The first one is for companies that plan to rebrand or launch a new brand. In this model, Pay N Play is the only registration and payment method.
On the other hand, Hybrid is a perfect choice for companies looking to enrich their existing brands. In this case, Pay N Play will be added as another registration and payment option.
It’s rather obvious why businesses choose Pay N Play as a payment provider. It provides bank-level security, instant deposits, and a hassle-free approach to online gambling.