PayNearMe partners with Trustly to Enhance Open Banking Technology

iGaming and Online Sports Betting clients benefit from Trustly’s guaranteed ACH payment option integrated into the MoneyLineTM Platform
BusinessWireMay 7, 20244 min

SBC SUMMIT NORTH AMERICA – PayNearMe, the fintech company bringing progress to payments, announced a partnership with Trustly, the global leader in open banking payments. The integration of Trustly’s Open Banking solution provides operators with access to modern banking rails for real-time deposits and withdrawals.

With the integration of Trustly, PayNearMe’s iGaming and Online Sports Betting clients can accept guaranteed ACH deposits and instantly transfer winnings into player bank accounts. Players benefit by being able to fund their accounts in real-time using their secure online banking credentials; they no longer need to enter their bank account details.

“Our goal is to partner with best-in-class providers to offer a single integration and platform for all our clients’ payment needs, while ensuring they have a future-proof payments roadmap. As we continue to enhance the MoneyLine Platform, we’re excited to partner with Trustly, the leader in open banking solutions for the iGaming and online sports betting market,” said Michael Kaplan, EVP and Chief Revenue Officer of PayNearMe. “Our iGaming clients get a proven, guaranteed deposit method, which reduces their risk, while their players get real-time access to deposited funds, improving their overall experience.”

PayNearMe’s iGaming clients can access pay by bank and other available payment types—cash, cards and mobile-first payment options including PayPal, Venmo and Apple Pay—all with a single integration and contract.

“There is a clear move toward open banking and we recognize the immense value it brings to our clients,” Kaplan said. “We plan to expand our partnership with Trustly to incorporate additional open banking capabilities into our platform and enable all of our clients to benefit from this innovative technology.”

“Trustly is proud to partner with PayNearMe, which shares our commitment to creating a seamless payment experience,” said Frederick Crosby, Chief Revenue Officer at Trustly. “This integration will streamline the transaction process and offer secure Open Banking Payments for both operators [with instant deposits] and players [with instant payouts]. We look forward to growing this partnership as the demand for Open Banking solutions continues to rise.”

PayNearMe’s MoneyLine platform is purpose-built for the unique regulatory and payment complexities of iGaming and online sports betting. The company currently facilitates deposits and payouts for licensed operators in 25 states.

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