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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:
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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.
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Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.
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Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.
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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.
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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.
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BVGroup integrates ThrillTech’s ThrillPots™ jackpot solution to deliver thrilling new player experiences
Innovative side-bet jackpots launch across BetVictor, Heart Bingo, and BVGroup’s wider brand portfolio
BVGroup, a leading gambling operator and technology solutions provider, has partnered with player engagement specialist ThrillTech to launch its licensed ThrillPots™ jackpot solution across its portfolio of brands.
The integration introduces a fresh wave of entertainment for BVGroup customers, enabling bespoke side-bet jackpots that add excitement to every spin, hand, and wager.
ThrillPots allows players to opt-in and contribute to progressive jackpots without interrupting core gameplay – creating the chance for surprise and thrilling wins.
BVGroup operates a suite of renowned brands including BetVictor, Heart Bingo, talkSPORT BET and Betano UK.
With ThrillPots, these brands can now offer players dynamic jackpot products designed to heighten engagement and bring a new dimension of fun across both the Gaming and Sportsbook products.
Ben Bradtke, co-founder of ThrillTech, said: “Partnering with BVGroup, a household name in the UK, makes ThrillTech’s entry into this vibrant market even more exciting. Our ThrillPots solution is built to deliver entertainment – jackpots that surprise, excite and keep players engaged. BVGroup’s reputation for delivering player-first experiences makes them an ideal partner.”
Eoin Ryan, Director of Sportsbook and eGaming at BVGroup, added: “At BVGroup, we’re always exploring ways to bring our players something new, exciting and memorable. ThrillTech’s ThrillPots is a flexible new jackpot mechanic that enhances the thrill of play, offering engaging experiences while maintaining the high standards of fairness and enjoyment our players expect.”
This partnership underlines BVGroup’s ongoing commitment to player-first innovation, bringing fresh products and immersive entertainment across its expanding suite of brands.
The post BVGroup integrates ThrillTech’s ThrillPots™ jackpot solution to deliver thrilling new player experiences appeared first on European Gaming Industry News.
SYNOT Games, a leading content and solutions provider in the iGaming industry, has announced a new partnership with WIN2 in Romania, further expanding its presence in regulated markets.
As part of this collaboration, 134 SYNOT Games titles are now available on WIN2, including top-performing titles like Skull Bonanza, 27 Joker Fruits and Amazons’ Wonders. The integration was made possible through Crowd Entertainment, a trusted content aggregator with whom WIN2 recently initiated cooperation. This three-way partnership has enabled a smooth and efficient rollout of SYNOT Games’ content, setting the foundation for further expansion.
This launch marks a significant step forward for both companies, ensuring WIN2’s players gain access to SYNOT Games’ diverse and engaging portfolio, known for its striking visuals, smooth gameplay and mobile-first design.
WIN2 has also expressed a strong interest in making all SYNOT Games’ certified titles available soon, reinforcing the platform’s commitment to delivering quality, variety and regulated entertainment to its user base.
“We are excited to welcome WIN2 as a new partner and to bring our games to their growing player community,” said Martina Krajčí, CCO at SYNOT Games.
“This cooperation reflects our continued focus on expanding our footprint across trusted and certified platforms, and we look forward to a successful journey together.”
Dragoș Mămăligă, Deputy Director at WIN2, said: “Adding SYNOT Games to our portfolio means expanding our offering with proven, high-quality content that players love. We are thrilled to provide our players with access to such a wide and dynamic portfolio and are already working towards making even more titles available soon.”
The post SYNOT Games Partners with WIN2 appeared first on European Gaming Industry News.
Creedroomz has launched Cashout Blackjack, a new version of its popular Live Blackjack game designed to redefine player engagement. This major update features a groundbreaking Side Bet Gamble mechanic, a completely redesigned UI and other key enhancements that deliver a new standard of excitement.
The Side Bet Gamble is an industry-first feature that gives players total control over their side bet winnings. Unlike traditional bonus rounds that are passive or tied to specific game events, this optional decision occurs only for players who have won a side bet, right at the end of the round after the last dealer card has been dealt. Players are given a choice: Gamble their winnings for a chance to double their payout, or Skip and keep their original amount. This high-stakes, real-time decision point transforms every win into an exhilarating risk-reward moment.
Cashout Blackjack also includes a suite of powerful updates:
Sleek New UI: A fully redesigned interface built for seamless usability on all devices.
Rebalanced Side Bets: Payouts have been rebalanced to make side bets more compelling and rewarding.
Auto-stand applied on hard / non-splitable scores of 17, 18, 19 and 20.
The new Cashout Blackjack, complete with the Side Bet Gamble feature, is now available to all Creedroomz partners. This launch underscores Creedroomz’s strategic vision to provide partners with groundbreaking tools that ensure they remain at the forefront of the competitive iGaming market.
The post Creedroomz Introduces Cashout Blackjack appeared first on European Gaming Industry News.
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