San Carlos, California, February 7, 2023 - Today Trustly, the global leader in Open Banking Payments, partners with PointsBet, a premier global online gaming operator, to offer its players Instant Payouts in the United States, powered by Cross River. In partnership with Cross River Bank, a financial services and technology infrastructure provider that offers embedded financial solutions, Trustly’s technology platform will allow PointsBet to provide players with instant withdrawals of winnings into their bank accounts wherever sports betting is available.
Trustly’s optimized UI, effortless configurability, and turnkey payout logic make Instant Payouts the preferred real-time payment method for merchants and players alike. This innovation is facilitated by Trustly’s relationship with Cross River, an early participant in the RTP® network built by The Clearing House. PointsBet, by using Trustly Instant Payouts, can fund payments directly with Cross River, which will send RTP payments on behalf of PointsBet to their players’ bank accounts.
For players making bets on the PointsBet platform, Trustly Instant Payouts will expedite the payout process, allowing them to access winnings instantaneously. By offering 24/7/365, immediate access to winnings, Trustly Instant Payouts builds player confidence, satisfaction, and loyalty.
John Parsons, Vice President, Gaming at Trustly, says: “We are thrilled to partner with PointsBet to offer Trustly Instant Payouts. This product, made possible by our collaboration with Cross River, will help facilitate a delightfully seamless payout experience for sports bettors nationwide.”
“PointsBet is always looking for innovative ways to deliver our customers a best-in-class betting experience. We have recently enhanced our platform with the addition of new Lightning Bet markets for the NFL, solidifying our stance as the home of live betting. Now we’re doing it again by offering our clients instant payout options,” said Mark Hughes, Chief Product Officer at PointsBet USA. “We’re excited to partner with Trustly and Cross River as we continue to redefine the sports betting landscape.”
“Cross River partners with some of the most innovative companies that provide consumers with the cutting-edge financial solutions they need and want. Our partnership with Trustly enables just that, solving a pain point in this vertical for a long time,” said Adam Goller, EVP, Head of Fintech Banking at Cross River. “Fueled by Cross River’s participation in the RTP network, consumers can now receive instant payouts and immediate access to their winnings.”
Founded in 2008, Trustly is a global leader in Open Banking Payments. Our digital account-to-account platform redefines the speed, simplicity, and security of payments, linking some of the world’s most prominent merchants with consumers directly from their online banking accounts. Trustly can handle the entire payment journey, setting us apart from the competition and enabling us to offer an attractive alternative to traditional card networks at a lower cost. Today we serve 8,100 merchants, connecting them with 525 million consumers and 6,300 banks in over 30 countries; in 2021, we processed over $28 billion in transaction volume in our global network.
We are a licensed Payment Institution under the second payment services directive (PSD2) and operate under the supervision of the Swedish Financial Supervisory Authority in Europe. In the US, we are state regulated as required to serve our target markets. Read more at www.trustly.com.
PointsBet is a corporate bookmaker listed on the Australian Stock Exchange with operations in Australia, the United States, Canada, and Ireland. PointsBet has developed a scalable cloud-based wagering platform through which it offers its clients innovative sports and racing wagering products, advance deposit wagering on racing (ADW), and iGaming.
About Cross River
Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, lending and crypto solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.
Real-Time Payments are powered by Cross River Bank. Recipients typically receive the payment within seconds of the sending bank initiating the transaction; RTP® network receiving financial institutions are required to make funds available immediately, except where necessary for risk management or legal compliance purposes.