PayNearMe taps Trustly to enhance Open Banking technology

By Gloria Methri

PayNearMe, a FinTech company specializing in advancing payment solutions, has signed a strategic partnership with Trustly. This collaboration integrates Trustly’s Open Banking solution into PayNearMe’s platform, granting operators access to modern banking channels for real-time deposits and withdrawals.

PayNearMe’s iGaming and Online Sports Betting clients can now accept guaranteed ACH deposits and instantly transfer winnings into player bank accounts. This integration also allows players to fund their accounts in real time using their secure online banking credentials, eliminating the need to enter bank account information manually.

“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.”