## Trustly’s US Introduction: A Dialogue with John Mallia

Gaming Insider spoke with John Mallia, Gaming Account Director at Trustly, to examine the payment platform’s trajectory this year and its aspirations for emerging sectors.

When questioned about Trustly’s results, Mallia recognized the influence of Sweden’s restructured market at the year’s commencement. This had repercussions throughout the sector, and Trustly was not unaffected. Nevertheless, he stressed that the firm has successfully traversed these turbulent times. Trustly persists in advancing, introducing new brands and partnerships, such as their recent collaboration with Catena Media. A momentary decline doesn’t derail the entire year, Mallia affirmed, unless you permit it.

While rivalry and new entrants are a constant in the market, Mallia is certain in Trustly’s strong offering. He views this as a primary distinguishing factor. Another obstacle has been the execution of PSD2 (Payment Services Directive 2), which caused some financial institutions to delay necessary adjustments. However, Mallia emphasized Trustly’s proactive strategy, guaranteeing they were fully equipped for both PSD2 and the broader open banking movement.

Shifting back to the Swedish market, Mallia conceded that the post-re-regulation environment has been demanding, reflecting the experience of the entire industry in the area. The bright spot? Trustly has remained steadfast, solidifying its standing. Mallia trusts that the trials of re-regulation will ultimately make Trustly even more resilient.

When asked if there are wider takeaways to be gleaned from Sweden’s experience, Mallia hesitated, implying that this instance is rather distinct…

Opting out of gambling in Sweden is a completely different animal. The level of intricacy caught everyone off guard, but it served as a valuable lesson: understand the rules before entering a new territory. Naturally, experience is a great teacher, and each regulatory body has its own methods of operation and enforcement.

Unlike Sweden, other regions don’t limit players to a single welcome bonus. That’s a Swedish peculiarity. While every market has its nuances, a universal hurdle for any regulated sector is adherence to the rules. Staying ahead of the curve, meticulously following application procedures, and realistically estimating timeframes are crucial.

Our position as a payment processor required minimal adjustments due to our existing status as a licensed Swedish financial entity. This gave us a significant advantage.

In your earlier dialogue with Samuel Barrett, he indicated that if the Swedish Gambling Authority or a judicial body determines an operator breached the Swedish Gaming Act’s provisions, service suspension might be necessary. Have you encountered such a situation?

Indeed, this year, we had an instance where an operator’s license was revoked, prompting us to cease providing them services. Consequently, they were obligated to take down their website.

This is an annual occurrence.
In May, your organization declared an amalgamation with PayWithMyBank, headquartered in Silicon Valley. Can you provide further details regarding this agreement? Will this facilitate your entry into the US gaming sector?
That’s an excellent inquiry. Since our consolidation with PayWithMyBank, we’ve been assessing the requirements of our clientele; identifying the markets they wish to penetrate or where our presence is desired. The United States was undeniably a top contender.
The integration with PayWithMyBank presented us with a remarkable prospect and now empowers us to collaborate with operators to advance into this market. PayWithMyBank already possessed gaming clientele in the US on the vendor side, so it’s familiar territory for them. For us, it serves as a stepping stone to enter a highly captivating market.
This demonstrates our readiness to leverage the burgeoning trend of account-to-account transactions, an emerging phenomenon in the US.
Are there any other sectors you are contemplating expansion into?
Presently, we are unable to divulge specific markets, but we are actively pursuing expansion into new territories. Trustly has transitioned from an EU-centric provider to a global entity, and we are determined to maintain this trajectory. Regarding which market will be prioritized and the timeline, it’s premature to say.
The gaming industry has consistently been characterized by its competitiveness.
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The business landscape is becoming increasingly cutthroat, and legal frameworks are more stringent, yet this is precisely how fresh prospects emerge!

Trustly isn’t simply prepared for these shifts, we’re poised to transform them into triumphs. We’ve been laying the groundwork for PSD2, application programming interfaces, and the entire open financial ecosystem. Anticipate some impressive novel offerings and enhancements to our current lineup.