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TrueLayer launches European payments combining instant player deposits and withdrawals
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iGaming operators can accept instant, account-to-account payments and instant withdrawals in any app or website, delivering the most comprehensive European payments experience.
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Jack Potts Bingo in Ireland is already live using the product with Spanish operator Codere going live in the coming weeks.
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Payments with TrueLayer are lower cost and lower fraud than traditional payment options including cards, manual bank transfer and digital wallets.
TrueLayer, Europe’s leading open banking platform, today announced it has launched its closed-loop payment product across Europe, including Ireland, France, Germany, Spain, Lithuania and the Netherlands. iGaming operators can now offer secure, instant and cost-effective deposits and withdrawals across the continent.
Traditional payment methods weren’t built to handle the speed of online commerce. With cards taking up to three days to settle, operators struggle to manage liquidity, while players have to wait in limbo for withdrawals. Cards and digital wallets generate substantial costs through interchange fees, chargeback penalties and time-consuming manual tracking processes. There is also the issue of rising card fraud in Europe, which totalled €1.55 billion in 2020, with card-not-present fraud accounting for 76% of those cases. France, Germany and Spain all ranked in the top five for card fraud losses.
TrueLayer is addressing these points with a more cost-effective, frictionless and secure European payments platform for iGaming operators, built on open banking and the fastest available bank payment rails. It delivers:
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Instant pay-ins: Players can top up their accounts in seconds with account-to-account payments. Deposits settle in a dedicated merchant account and are automatically reconciled against customers’ details.
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Instant withdrawals: Verified account details are associated with each player allowing businesses to provide instant withdrawals and refunds back into the same account used for the deposit with a simple API call.
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Dedicated merchant accounts: Operators can automate reconciliation processes and gain full visibility of their player’s account details as soon as payment settles. They can also withdraw automatically into their bank account.
Roberto Villani, Head of iGaming at TrueLayer, commented: “With TrueLayer, iGaming operators across Europe can create a better payment experience. A single implementation of our platform delivers immediate deposits so players can get started and instant withdrawals for their winnings. Card refunds can take up to five days, destroying customer loyalty in the process, while other methods are prone to operational inefficiencies, human error and lost payouts that can damage businesses’ reputations. With TrueLayer, players can see the instant transfer of funds with minimal fuss or having to chase support teams asking where their money is.”
Ran Kshivizky, Payments Product Manager at Codere, explained: ‘We want to deliver the best player experience possible and if you can pay instantly you should be able to get your funds out instantly. When you know you can access winnings quickly that is also a differentiator for Codere and is also likely to make players come back. TrueLayer provides the ideal solution as it’s money in and out straight away – without the poor UX and operational overheads of cards, manual transfers or wallets.”
TrueLayer Payments is the most comprehensive solution on the market, delivering significant benefits for operators and players, including:
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Instant access to funds: payments are confirmed instantly, enabling operators to serve players more efficiently and receive funds faster. Real-time payment confirmation provides peace of mind that each transaction has been authorised.
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Frictionless checkout processes: inputting card details is inconvenient for players and errors can derail the entire payment process. TrueLayer removes any manual entry on banking details, eliminating mistakes and making it easier to complete a payment.
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Fewer abandoned payments: tested on millions of transactions across the UK and Europe, TrueLayer’s embedded payment flows make paying easier than ever. The result is fewer payment abandonments and higher conversion rates.
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Lower operational costs: Open banking removes interchange fees and chargebacks of cards, making them far more cost-effective. TrueLayer automates expensive and time consuming manual processes such as reconciliation and sending payouts, with full visibility of all payments via the merchant dashboard.
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Reduced payment fraud: Payments are PSD2 and SCA compliant, with payments authenticated directly with the bank, reducing the opportunity for fraud and chargebacks.
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Enhanced player experience: Instant deposits enable operators to provide access to their services with the certainty they have received the funds and players to use their funds immediately. Instant withdrawals through TrueLayer provide an additional level of assurance that their money will be returned efficiently.
Till Wirth, Head of Product at TrueLayer, added:“We have used our experience and expertise to deliver an effortless way to onboard new customers and enable them to quickly fund their accounts and withdraw winnings, delivering faster, safer and lower cost payments for operators in the process. That, in turn, supports increased trust and loyalty – for example YouGov research showed 64% of players were more likely to trust an operator that offered instant withdrawals and deposits. More than half (55%) said they were likely to switch to a provider that offered instant withdrawals.”
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Chanced.com
Optimove Expands its Leading CRM Marketing Offering to iGaming Sweepstakes Companies
The #1 CRM Marketing Solution for iGaming and Sports Betting expands its offering to supercharge personalization, contestant loyalty, and brand growth in the rapidly growing iGaming Sweepstakes sector. Secured The Money Factory, MyPrize, and Chanced.com as clients
Optimove, the #1 CRM Marketing Solution for the iGaming and Sports Betting sector, announced the expansion of its offering with a turnkey solution to support iGaming Sweepstakes operators. Optimove is the CRM marketing leader for Online Casinos, Sportsbooks, and Lottery. With this new offering, Optimove is announcing three new Sweepstakes clients: The Money Factory, MyPrize, and Chanced.com.
iGaming sweepstakes companies provide platforms for online contests and giveaways, offering contestants the chance to win prizes through various games and promotions. They facilitate engaging experiences and reward players for their participation.
Drawing on its expertise as the premier CRM Marketing Solution in the iGaming and Sports Betting industry, Optimove empowers Sweepstakes companies to enhance contestant experiences, cultivate loyalty, boost retention rates, and maximize player lifetime value through advanced AI-driven marketing campaigns that start with the player. Optimove is trusted by four out of the top five operators in the US, as per the 2024 EGR US Power Ranking.
Optimove’s CRM Marketing Solution empowers Sweepstakes companies with key capabilities:
- Advanced marketing AI: Providing AI-driven Insights, Creation, and Orchestration for better contestant understanding, streamlining content creation, and optimizing hundreds of multichannel campaigns seamlessly for enhanced personalized experiences across channels and touchpoints.
- Personalization of web and app experiences: Serving personalized content and product recommendations across all digital touchpoints with Opti-X, Optimove’s Digital Experience Platform (DXP), combining business rules with over 20 AI models.
- Enriched customer profiles: Unifying all historical, predictive, and real-time customer data from sources such as CRM, service clouds, and data warehouses via Optimove to create a comprehensive single-contestant view.
- Dynamic real-time marketing: Combining sophisticated modeling and rich historical data with the speed and relevancy of real-time data to create powerful segments and swiftly respond to contestants’ actions with personalized messages in real-time across all marketing channels.
- A continuous optimization loop: Leveraging Optimove’s productized experimentation tools to measure the incremental uplift of each campaign, journey, and strategy to continuously optimize CRM Marketing performance.
“The iGaming sweepstakes sector is experiencing unprecedented growth and heightened competition, making it essential for companies to foster contestant loyalty and deliver highly personalized experiences,” said Tomer Imber, Senior Director of Sales at Optimove. “Drawing upon our extensive experience and expertise as the leading CRM Marketing Solution in iGaming and Sports Betting, we’re excited to introduce our solution to Sweepstakes operators which will bolster how sweepstakes operators engage with contestants, driving enhanced loyalty and maximizing lifetime value. We’re honored to welcome The Money Factory, MyPrizes, and Chanced.com as our inaugural clients in this domain.”
Gaming
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Blockchain
Rivalry Expands Crypto Native Experience With Token Launch in H2 2024, Web3 Product Enhancements
Blockchain-Based Product to Position Rivalry Within Fast-Growing Crypto Gambling Segment, Drive Product-Market Fit Among Digitally Native Bettors with Increased Functionality and User Experiences
Rivalry, the leading sportsbook and iGaming operator for Gen Z, revealed Rivalry Token, a native crypto token on the blockchain to add increased functionality, economics, and user experiences across the company’s product suite, continuing Rivalry’s track record of innovation in online betting. The launch of Rivalry Token, anticipated to arrive in H2 2024, represents one of several forthcoming initiatives to position Rivalry in the crypto gambling market and better serve its core audience of 30-and-under bettors.
“Online gambling is the latest web-based consumer category being increasingly disrupted by blockchain technologies with greater speed, access, and functionality than their legacy counterparts,” said Steven Salz, Co-Founder and CEO, Rivalry. “Tech-savvy bettors are leading a behavioral shift towards more experiential and crypto-enabled gambling experiences that are taking wallet share from incumbents at an accelerated rate.”
“Rivalry is well-positioned to access the growth opportunity in crypto with a proven product set, a brand entrenched in internet culture, and a captive audience of digitally native users that are driving this economic renaissance,” Salz added. “The launch of Rivalry Token, alongside a broader expansion into cryptocurrencies, strengthens our product-market fit among an under-30 audience and positions us competitively to capture a meaningful share of this fast-growing segment of the market.”
Rivalry Token will be integrated within Rivalry’s product suite – from sportsbook to casino and more – with built-in properties to enhance the customer experience from end-to-end. Users can earn tokens through site activity such as betting and referring friends, which can be used on Rivalry to boost odds, participate in jackpots, and more to be detailed in the future. Rivalry Token will also be available on several to-be-announced crypto exchange platforms, trading under $RVLRY.
Rivalry Token creates a new dynamic relationship between player and house where every sports wager and casino spin, win or lose, is rewarded with a decentralized asset that can accrue value alongside player activity on Rivalry. The company expects its token will drive a meaningful increase in player engagement, loyalty, and advocacy by establishing more positive economic alignment and enabling customers to actively participate in product success.
Rivalry has today launched a pre-farming campaign where users can begin accumulating an interim currency through site activity and eventually social media which will be converted into Rivalry Token during the token generation event in H2 2024. Additionally, tokens will be distributed to all Rivalry accounts based on historical activity, rewarding loyal customers and creating a substantial reactivation opportunity for churned users.
Rivalry will also soon be adding greater support for other cryptocurrencies on its platform, allowing users to more easily bet with Bitcoin, Ethereum, Dogecoin, and other major cryptocurrencies. This will enable Rivalry to access a fast-growing audience gambling with crypto that is estimated to account for up to one quarter of global betting handle.
Following the official launch, Rivalry Token will be available for players to use on Rivalry in all of the company’s active markets excluding Ontario and Australia.
The company will release more information about Rivalry Token throughout the coming months, including commercial partners, token economics, and more.
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