Latest News
TrueLayer launches Payouts, a new way for operators to issue instant refunds and withdrawals
TrueLayer, Europe’s leading open banking platform, today announced the launch of Payouts, a new solution to tackle the issues of slow withdrawals and refunds. Payouts is already being used by TrueLayer clients, including the UK’s leading online car retailer, Cazoo, to instantly pay customers when they sell their car via the platform.
Today, customers expect payments that arrive in their account in seconds. The five days it can take for card or Bacs payments to appear frustrates customers and leads to a lack of loyalty. This is made worse when operators, as part of their due diligence, need to verify new user’s payment details and identity before issuing a payout, stopping customers mid-flow and making the process even slower.
Traditional payout methods require managing multiple reports, endless rows of data, and manually tracking each payment, creating inefficiencies, input errors and complaints from customers whose payouts were never issued.
TrueLayer has tackled the issue of fragmented and slow payout processes by combining open banking verification and the fastest payment rails available to ensure players are paid to the right account, right away. The open banking-powered verification process works by matching the name provided by the customer with what’s on file at their bank to confirm the details are correct. Results are returned in seconds. Gone are the days of asking customers to upload bank statements for compliance teams to review, or using micro-deposits that can be cumbersome for users to confirm.
With the player’s details pre-populated and verified, payouts are then automatically issued through TrueLayer’s robust infrastructure, connected to thousands of banks in the UK and across the EU through a simple API integration.
“Businesses today are laser-focused on customer experience, and the post-purchase experience involving customers requesting refunds or users withdrawing their funds, is critical to build loyalty. We built Payouts to take the pain out of these transactions and enable operators to create a compelling value proposition for their entire customer base – withdraw your funds or receive refunds instantly,” commented Murtaza Bootwala, Head of Payments at TrueLayer. “It is designed with iGaming in mind, where customers are growing increasingly frustrated by the poor experiences they have to endure as a result of outdated infrastructure. In 2021 it shouldn’t take days, sometimes over a week, to receive a payment.”
TrueLayer is the only provider that can deliver account verification, powered by open banking, with Payouts to deliver payments for operators that:
-
Increase retention and encourage service-switching: granting instant access to funds that settle in seconds, 24/7, without having to go through lengthy verification processes, players get what they want – their money instantly – compared to five days that cards or Bacs can take.
-
Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.
-
Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.
-
Streamline due diligence: using open banking verification, TrueLayer crosschecks the name provided by the end-user during registration with what’s on file at their bank to confirm that the details entered are correct. This helps businesses to minimise money laundering risk.
-
Improve the customer experience: no don’t need to remember account details, or manually fill any forms. With a simple redirect to their bank they can authenticate their account details using fingerprint or Face ID.
“TrueLayer is leading the charge to ensure payments processes that truly work for the customer and the business, ditching outdated methods to deliver the best possible payments experience,” added Bootwala. “By verifying the account details before paying out, you can say goodbye to the days of failed or lost payments, and reduce the strain on customer support. And by offering instant payouts, iGaming operators can build players’ trust and encourage others to switch over to your service.”
The launch of Payouts continues the expansion of TrueLayer’s solutions built on top of its market-leading open banking network in 2021, following the launch of PayDirect in January.
Powered by WPeMatico
The SOFTSWISS Game Aggregator, the largest content hub in the iGaming industry, has secured Brazilian certification, becoming one of the first in the market to achieve this milestone.
Regulatory rules for iGaming come into effect in Brazil on 1 January 2025. According to them, platforms, aggregators, sportsbooks, and providers must undergo certification. Companies aiming to provide their services in Brazil in 2025 and beyond have been preparing for this transition throughout the year.
The SOFTSWISS team announces that its Game Aggregator is the first to fully comply with regulations, completing all necessary preparations and receiving the certificate to ensure smooth and efficient operations for its clients.
SOFTSWISS has also obtained certification for integration with the world’s largest game providers – Pragmatic Play, Evolution, and Playtech. These providers offer a diverse range of games tailored to suit the preferences of Brazilian players, from immersive live dealer experiences to engaging slots and table games, ensuring entertainment for every type of player.
According to recent Kantar research conducted in November 2024, the overall satisfaction index for the SOFTSWISS Game Aggregator is 8.1 out of 10. Remarkably, half of the respondents rated the product a 10 or 9. Customer support service satisfaction scored even higher, at 8.4 out of 10.
The Game Aggregator also boasts a key advantage: consistent 99.999% uptime, which is crucial for the iGaming business.
Ivan Montik, Founder of SOFTSWISS, notes: “According to our information, the SOFTSWISS Game Aggregator is the first aggregator fully prepared, both technically and legally, to work in Brazil when the new regulations take effect. This is a significant achievement that the team has worked on diligently and systematically. Our work doesn’t stop here – we are actively adding new providers to help our clients expand their presence in this promising Brazilian market, which is no longer ‘the sleeping giant’. It has awakened, and SOFTSWISS is at the forefront of this exciting transformation.”
To support this high level of performance, earlier this year SOFTSWISS appointed Rubens Barrichello, the Brazilian Formula 1 legend, as a Non-Executive Director, demonstrating its strong commitment to the local market. To ensure efficient operations and promptly address ongoing matters, SOFTSWISS also has a dedicated team of local business development managers in Brazil.
SOFTSWISS team will be available to discuss partnership in Brazil and other markets at the first major iGaming event of 2025 – ICE Barcelona, taking place on 20–22 January, at stand 2G42.
About SOFTSWISS
SOFTSWISS is an international technology company with over 15 years of experience developing innovative solutions for the iGaming industry. SOFTSWISS holds a number of gaming licences and provides comprehensive software for managing iGaming projects. The company’s product portfolio includes the Online Casino Platform, the Game Aggregator with over 23,500 casino games, the Affilka Affiliate Platform, the Sportsbook software and the Jackpot Aggregator. In 2013, SOFTSWISS revolutionised the industry by introducing the world’s first Bitcoin-optimised online casino solution. The expert team, based in Malta, Poland, and Georgia, counts over 2,000 employees.
The post SOFTSWISS Game Aggregator: Largest Content Hub Certified in Brazil appeared first on European Gaming Industry News.
Digitain, the leading provider of sportsbook and casino platform solutions, announced today that Edmond Ghulyan, the Group Chief Strategy Officer, has been promoted to CEO of Relum, the casino engine solution provider that is part of the Digitain Group of Companies.
Edmond has held several key leadership positions within the Digitain Group over the past seven years, including Chief of Centrivo Products and Group Chief Strategy Officer. He brings extensive experience in the iGaming industry, along with expertise in digital strategy, product innovation, operations, and market-product fit strategies. His comprehensive understanding of both B2B and B2C iGaming supply chains will be invaluable in further scaling Relum’s product offerings, including casino aggregation services and market expansion.
Digitain’s Group Founder, Mr. Vardges Vardanyan, commented on the promotion: “I am delighted to have Edmond lead the Relum team. With his extensive experience in product and commercial development at Digitain over the years, Edmond will support and facilitate comprehensive solutions as Relum expands its services to B2C partner operators in high-growth markets.”
Edmond Ghulyan, CEO of Relum, expressed his enthusiasm for the new role: “I am truly excited to have played my part of Digitain’s growth journey, and now Relum, a company that has consistently expanded its business solutions within the global regulated iGaming supply chain. The company’s customer-centric approach and commitment to its people in delivering complex solutions for today’s multi-jurisdictional regulated operators have always impressed me. I eagerly look forward to scaling the Relum business with new and existing partners and leading the product and sales team in the coming months.”
The post Digitain has promoted Group Chief Strategy Officer to CEO of Relum appeared first on European Gaming Industry News.
Zitro, a leading global gaming company, has announced the successful launch of its first Wide Area Progressive (WAP) in Argentina, with over 45 slot cabinets initially installed in five gaming halls located at the Hipódromo de Palermo. The product selected for this project is the successful game “Mighty Hammer Ultimate” on Zitro’s premium cabinet, “Altius Glare.”
This system represents the first WAP in South America. A shared jackpot called “Mega Pozo Mighty Hammer” starts at 50 million Pesos and grows progressively, making it the largest accumulated prize in the region. The official inauguration was held on December 19th during the exclusive “Noche de Palermo” event, including a live performance by the renowned Argentinian band Los Totora.
Company Directors commented: “We are very pleased to introduce Argentina’s first WAP at the Hipódromo de Palermo. This project – for which we partnered with Zitro – reiterates Casino Club’s commitment to innovation, always under the premise of offering our customers an entertainment experience that exceeds all their expectations.”
For her part, Alejandra Burato, Regional Director of Zitro for LatAm, commented: “The launch of our first WAP in Argentina is a very important milestone for Zitro, as it confirms our company as a supplier of machines for WAPs. Attending the inauguration event and seeing firsthand how our products connect with players has been a pleasure, providing a unique and different entertainment experience in the region. Additionally, I want to highlight the excellent marketing surrounding the launch, contributing to its success. Finally, I would like to thank Casino Club for their trust and collaboration, which has allowed us to present this innovative proposal in such a renowned and emblematic place as the Hipódromo de Palermo.”
-
Australia5 days agoAUSTRAC Takes Ladbrokes and Neds’ Operator – Entain – to Federal Court Over Serious Non-compliance with Australia’s Money Laundering Laws
-
Africa6 days ago
Altenar obtains National Manufacturer licence in South Africa
-
Australia6 days ago
Christine Howlett Appointed as New Commissioner of NSW Independent Casino Commission
-
Balkans6 days ago
Evoplay joins forces with Slotino to expand Bulgarian reach
-
Latest News5 days ago
Join the Danish Problem Gambling Committee’s Online Conference: A Critical Conversation on Problem Gambling Prevention and Treatment
-
Compliance Updates6 days ago
SYNOT Games Officially Certifies Over 140 Games in Brazil
-
Latest News6 days ago
ICONIC21 boosts product offering with slot games
-
eSports6 days ago
ComeOn Group and Astralis unite to drive esports engagement in the Nordics
