How TrueLayer brings instant payouts to online casinos

Comparasino sat down with Roberto Villani, VP of Gaming at TrueLayer, to learn more about how the payments company is helping casinos provide instant deposits and payouts

Fast withdrawal casinos have always been popular as they allow you to access your winnings without delay. Previously, a payout was considered fast if it took one to three working days for your winnings to land in your bank account or digital wallet, but recently that time has come down to 24 hours. 

But modern banking technology can facilitate even faster payments, with the likes of TrueLayer allowing online casinos to offer instant payouts by leveraging the power of open banking and biometric ID verification. This has made TrueLayer casinos really popular with players in the UK.

To learn more about how TrueLayer is helping to shift online casino payments up a gear, we spoke to Roberto Villani, VP of Gaming. 

How does TrueLayer work in the context of online casino payments? 

TrueLayer helps online casinos harness the power of open banking by providing users access to instant payments for both deposits and payouts. Players can top up their accounts in real time and start using those funds immediately. Payouts are just as fast — customers can transfer their winnings from their casino account to their bank in seconds. 

And that speed makes a big difference. When we surveyed European iGaming customers with YouGov, we found that 55% of players would be likely to switch to a platform that offers instant payouts. So providing that instant experience can be a crucial differentiator for online casinos.

What technologies does TrueLayer leverage? Are these technologies safe and secure? 

At TrueLayer, our pay-ins and payouts rely on open banking technology. In a nutshell, open banking enables access to data and initiate payments from a customer’s bank account with their permission. 

By design, open banking benefits from security measures that help keep players safe. Casino operators don’t receive any account details when they initiate a payment, so there’s no risk of sensitive information being leaked.

Instead, those details come pre-populated, mitigating the risk of human error. And open banking payments have common security features like strong customer authentication built in, so players can authenticate their deposits and payouts faster and more smoothly.

What does a TrueLayer deposit at an online casino look like? What steps are involved? 

First and foremost, you won’t see TrueLayer in the deposit page, our solution is completely white-labelled. What a player will see instead is “Instant bank transfer” or “Instant bank payment” accompanied by bank logos. 

As for the UX itself, a player simply selects the instant bank transfer option, chooses their bank and confirms the payment. They will be redirected to the banking app on their mobile device, where they will authenticate the payment using biometrics. Once the payment goes through, they get redirected back to the casino or sportsbook website. It’s a fast, secure process that makes funding an account far more intuitive.

How does TrueLayer provide such fast deposit and payout times? 

TrueLayer Payments run on instant payment rails — Faster Payments in the UK.

With payouts, settlement is everything. Players don’t gain access to their winnings until they’ve settled safely in their bank accounts, creating doubt and uncertainty. Since our payouts settle immediately, we can give users the instant experience they expect.

Does TrueLayer support mobile casino payments? 

TrueLayer’s deposits and payouts are digitally native, making them ideal for mobile casinos. During integration, we provide developers with software development kits (SDKs) that help operators customise their payment flows for mobile. Once integration is complete, players authenticate their payments directly through their mobile banking apps, creating a smooth and simple mobile-first experience.

Will we see TrueLayer partner with more online casinos in the UK this year? 

We’ve got big plans for iGaming in 2024 and online casinos are definitely a part of the mix. Already, we’re working with a few prominent brands who we hope to announce soon, so stay tuned!