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Expert opinion

A faster way to play: no-registration gaming takes hold

Thursday 20 September 2018 | 11:46 AM CET

Samuel Barrett from Trustly tackles the intricacies of the online gaming sector and how to benefit from “no-registration” casinos with Trustly’s Pay N Play.

There’s no denying: today’s consumers are impatient. Speed has become a hygiene factor across almost all industries. People expect to be able to stream TV shows on demand and have their takeaway orders delivered in less time than it takes to microwave leftovers. The online gaming sector is no exception: players expect to be able to play their favorite games and cash out their winnings instantly.

Similarly, registering at a gaming site has traditionally involved filling out lengthy registration forms and then waiting for days for the online casino to conduct its due diligence. Today, thanks to products like Trustly’s Pay N Play, it’s becoming possible for
new users to play instantly on a gaming site without registration, while still allowing operators to stay compliant with the regulators, through the monitoring of both transactions and players who show signs of addictive and/or high-risk behaviour. With these innovations, there’s been a surge of interest around “no-registration casinos” from both players and operators alike.

How do “no-registration” casinos work?

The idea of depositing money to a site that doesn’t require registration can be unsettling to some players, but just because they don’t need to register, doesn’t mean they don’t have an actual account. The “no-registration” model makes it easy for players to get started without needing to provide many details such as full name, home address, and phone number or to download special software. Instead, all they need to do is make a deposit using their online bank.

For example, players can click “Make a deposit,” enter the amount they wish to deposit, and verify themselves with their online bank to complete the deposit. The process of verifying oneself through the online bank is incredibly safe thanks to strong two-factor authentication methods, an extra layer of security that authenticates users based on something they know (a security question or username and password, for example) combined with something they have (a security token or smartphone, for example).

Once the player’s identity is verified, registration details are pulled from the account to fulfill the necessary KyC checks, and the merchant can establish an account in the background. With the payment provider helping to shoulder some of the KyC burden, gaming merchants can conserve resources and ultimately provide a smoother player experience.

Benefits abound

While the benefits of no-registration casinos for players are clear, there are numerous up-sides for operators as well.

1. Boost ROI on acquisition and reactivation

Did you know that around 24% of online gaming registrations are abandoned, likely because of rigorous regulatory requirements and manual processes? (Jumio/Harris research survey of online gaming customers in 2016) On top of that, only 1 in 3 people who do manage to register actually end up making a deposit within 24 hours (Optimove data). Operators spend massive resources to acquire players, only to lose them during the critical registration and deposit steps.

However, with Trustly’s Pay N Play, players can register and start playing immediately just by making a deposit via their online bank. This seamless sign-up process drastically reduces drop-off during the onboarding flow, significantly lowering acquisition costs. In addition, since registration and the initial deposit are linked, the chance that players register but never deposit is eliminated, ultimately increasing conversion.

2. Build loyalty through instant withdrawals

Pay N Play helps operators to build loyalty among players through instant withdrawals. According to Trustly’s internal data, players at Pay N Play sites make 16% more deposits and have 17% higher transaction values each month, compared to traditional gaming operators.

3. Fulfill KYC regulatory requirements

Once the player’s identity is verified via an online banking deposit, Trustly pulls registration details from the player’s bank account and passes them onto the operator to fulfill the necessary KyC checks. The operator can then create a player account on the player’s behalf.

A future free of registration

As regulators continue to tighten their grips on gaming operators through sophisticated legislation, it’s becoming an increasing drain on their resources to remain compliant. Luckily, payment providers are becoming more and more innovative and, going forward, they will be able to support operators in their KyC efforts.

In-banner betting and beyond

So as “no-registration” casinos become commonplace, how can operators further differentiate themselves, and where could this technology lead the industry next?

Imagine you’re surfing the web, perhaps reading news about your favorite football team. In a banner to the right, you see an offer to bet on the score of tonight’s match. you click on the banner and, without leaving the page, you place a bet on your team. you select the amount you wish to bet, make a deposit by logging into your online bank via the iframe, and confirm your deposit. you watch the game and it turns out you made a smart bet. When you’re ready to cash out your winnings, you navigate to the site and withdraw the money directly to your bank account.

It’s hard to picture a smoother betting experience, as you never need to register an account or even leave the website you’re surfing. The applications of the technology are far-reaching: it could enable shoppers to buy a pair of shoes directly from a banner ad, or let music fans purchase concert tickets with greater ease. It’s a reality we aren’t very far away from and one that stands to dramatically reshape online gaming and e-commerce as we know it.

About Samuel Barrett

Samuel Barrett started his gaming career more than seven years ago at Clarion Events, where within three years he became head of sales and was managing the biggest gaming show in the industry. He has since held management roles at payments businesses including ClickandBuy, Skrill (Paysafe Group), and FX brokerage World First before joining Trustly as Director of Gaming.

 

About Trustly

Trustly is a Swedish fintech company that makes online banking payments fast, simple and secure. We offer instant deposits and withdrawals to players across 29 European countries and our latest product, Pay N Play, lets players skip the sign-up step and start playing games instantly, while ensuring that operators stay compliant.
 

This editorial was first published in our Payment Methods Report 2018 – Innovations in the Way We Pay. The Payment Methods Report 2018 presents the key trends and developments in global and regional payment methods by highlighting the innovation, challenges, and developments in the use of the most important payment methods across geographies and verticals.

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