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TrueLayer launches Payouts, a new way for operators to issue instant refunds and withdrawals

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4 years ago

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TrueLayer, Europe’s leading open banking platform, today announced the launch of Payouts, a new solution to tackle the issues of slow withdrawals and refunds. Payouts is already being used by TrueLayer clients, including the UK’s leading online car retailer, Cazoo, to instantly pay customers when they sell their car via the platform.

Today, customers expect payments that arrive in their account in seconds. The five days it can take for card or Bacs payments to appear frustrates customers and leads to a lack of loyalty. This is made worse when operators, as part of their due diligence, need to verify new user’s payment details and identity before issuing a payout, stopping customers mid-flow and making the process even slower.

Traditional payout methods require managing multiple reports, endless rows of data, and manually tracking each payment, creating inefficiencies, input errors and complaints from customers whose payouts were never issued.

TrueLayer has tackled the issue of fragmented and slow payout processes by combining open banking verification and the fastest payment rails available to ensure players are paid to the right account, right away. The open banking-powered verification process works by matching the name provided by the customer with what’s on file at their bank to confirm the details are correct. Results are returned in seconds. Gone are the days of asking customers to upload bank statements for compliance teams to review, or using micro-deposits that can be cumbersome for users to confirm.

With the player’s details pre-populated and verified, payouts are then automatically issued through TrueLayer’s robust infrastructure, connected to thousands of banks in the UK and across the EU through a simple API integration.

“Businesses today are laser-focused on customer experience, and the post-purchase experience involving customers requesting refunds or users withdrawing their funds, is critical to build loyalty. We built Payouts to take the pain out of these transactions and enable operators to create a compelling value proposition for their entire customer base – withdraw your funds or receive refunds instantly,” commented Murtaza Bootwala, Head of Payments at TrueLayer. “It is designed with iGaming in mind, where customers are growing increasingly frustrated by the poor experiences they have to endure as a result of outdated infrastructure. In 2021 it shouldn’t take days, sometimes over a week, to receive a payment.”

TrueLayer is the only provider that can deliver account verification, powered by open banking, with Payouts to deliver payments for operators that:

  • Increase retention and encourage service-switching: granting instant access to funds that settle in seconds, 24/7, without having to go through lengthy verification processes, players get what they want – their money instantly – compared to five days that cards or Bacs can take.

  • Eliminate the cost of lost or failed payouts: using bank-verified account information to automate payment setup.

  • Remove manual tracking processes: initiating multiple payouts via a single API, removing errors from the whole equation.

  • Streamline due diligence: using open banking verification, TrueLayer crosschecks the name provided by the end-user during registration with what’s on file at their bank to confirm that the details entered are correct. This helps businesses to minimise money laundering risk.

  • Improve the customer experience: no don’t need to remember account details, or manually fill any forms. With a simple redirect to their bank they can authenticate their account details using fingerprint or Face ID.

“TrueLayer is leading the charge to ensure payments processes that truly work for the customer and the business, ditching outdated methods to deliver the best possible payments experience,” added Bootwala. “By verifying the account details before paying out, you can say goodbye to the days of failed or lost payments, and reduce the strain on customer support. And by offering instant payouts, iGaming operators can build players’ trust and encourage others to switch over to your service.”

The launch of Payouts continues the expansion of TrueLayer’s solutions built on top of its market-leading open banking network in 2021, following the launch of PayDirect in January.

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Aristocrat Interactive

Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership

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6 hours ago

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April 8, 2025

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Logifuture, a leading supplier of award-winning iGaming products, has entered the Mexican market with Zoom Soccer, via its partnership with Aristocrat Interactive.

Zoom Soccer is a one-of-a-kind 24/7 virtual sports feed that delivers ultra-realistic, fully simulated matches and outcomes, featuring teams and leagues designed to feel familiar to fans. Built to complement real football offerings, it provides a non-stop, immersive betting experience.

With over 30,000 additional pre-match and in-play betting events each month, Zoom Soccer ensures sportsbooks stay engaging – not just during off-seasons but also during quieter moments of the day or week when real football options are limited. Thanks to existing partner integrations, it attracts tens of millions of bets every month.

The integration of Zoom Soccer is facilitated by Logifuture’s existing collaboration with Aristocrat Interactive. Through Aristocrat’s digital gaming platform, Logifuture is bringing its sophisticated products to millions of players across emerging markets, including Africa, Eastern Europe, Latin America and Central America.

Niccolo Cassettari, Chief Business Development Officer at Logifuture, said : “We’re thrilled that sports fans in Mexico will now be able to experience Zoom Soccer, our 24/7 feed of virtual leagues built for sportsbook users. Offering both pre-match and in-play betting, it delivers an experience that closely mirrors real football, keeping users always engaged.

“As the demand for engaging nonstop sports content grows, this integration helps operators deliver. With a broader pre-match lineup and a live section constantly packed with soccer events, Zoom Soccer enhances the sportsbook experience for customers in Mexico.”

Morten Hauge, Head of Sports at Aristocrat Interactive iGaming & Sports, said: “Our partnership with Logifuture allows us to bring innovative and engaging virtual sports experiences to new audiences.

“The addition of Zoom Soccer in Mexico is a great example of how we’re expanding our digital portfolio to meet the growing demand for high-quality, immersive betting content. We’re excited to see how players respond and look forward to continued collaboration with Logifuture.”

The post Logifuture enters Mexico as Zoom Soccer via Aristocrat Interactive partnership appeared first on Gaming and Gambling Industry in the Americas.

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EveryMatrix Press Releases

Marc Burroughes appointed Chief Commercial Officer Casino at EveryMatrix

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6 hours ago

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April 8, 2025

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Marc Burroughes has been appointed Chief Commercial Officer (CCO) of EveryMatrix’s Casino division, driven by CasinoEngine, the group’s flagship integration platform powering global tier-1 operators to record growth.

Burroughes has spent close to two decades in the iGaming industry including senior roles at IGT, Light & Wonder and OpenBet with extensive commercial experience setting strategies and managing tier-1 customers in integrating content from leading game studios, platforms and aggregation solutions.

Reporting to casino business unit CEO Stian Enger, he will be responsible for commercial strategy across EveryMatrix’s CasinoEngine business unit that generated €2.8 billion in Gross Gaming Revenue (GGR) for customers in 2024, processing more than 73 billion game rounds.

His new CCO role involves a multitude of responsibilities including defining and setting the commercial strategy for CasinoEngine; delivering the forthcoming EngageSuite ecosystem to existing and new clients; working closely with the SlotMatrix and EveryMatrix Games teams to help customers move to a full platform solution and more.

Ebbe Groes, Group CEO and Co-Founder, EveryMatrix, said: “Marc has a strong track record working in senior positions for some of the industry’s major providers and delivering premium casino solutions for tier-1 brands.

“As we continue to grow at pace, and as our casino business unit goes from strength-to-strength, we’re looking to accelerate this even further in the months and years ahead under Marc’s commercial leadership.”

Marc Burroughes, CCO, Casino, EveryMatrix, said: “When the opportunity came to join EveryMatrix on their journey to rapid growth there was only one answer I could give.

“The group’s casino division is among the best I’ve seen in my 17 years in the industry and it still has room to significantly grow. I want to maximise all the opportunities we’ve identified and I’m confident we can achieve some big targets.”

The post Marc Burroughes appointed Chief Commercial Officer Casino at EveryMatrix appeared first on European Gaming Industry News.

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BiS SiGMA Americas

OKTO Sets New Standards in Digital Payments at BIS SIGMA Americas

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7 hours ago

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April 8, 2025

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OKTO is set to showcase its cutting-edge payment solutions at BIS SIGMA Americas in São Paulo. As a leading payment servise provider, OKTO will stand out with its advanced paytech and instant pay-ins and payouts, inviting visitors to explore its unified payment platform at the OKTO Networking Lounge – F140.

The OKTO booth will feature interactive demonstrations of the company’s innovative payment solutions, designed to redefine convenience and elevate user experience. OKTO’s comprehensive suite of services ensures instant deposits and withdrawals, setting a new standard for flexibility, security, and efficiency in digital payments.

Visitor will discover how OKTO has simplified integration for operators through a unified platform and one API that supports various local payment methods, enabling swift and efficient transactions across Latin America. Additionally, OKTO will showcase its Smart Payment Routing System, optimizing transaction flows and acceptance rates for enhanced efficiency.

Building on the successful launched of OKTO MAIS, Pay and Play 2.0, Smart Pix, and Biometric Pix at SBC Summit Rio last month, OKTO is bringing these innovations and more to SIGMA Americas. The company will showcase advanced banking solutions specifically designed for the Brazilian market, ensuring seamless fund transfers, specialized financial advisory, and full compliance with local regulations.

Leveraging open banking, OKTO’s PIX suíte will demonstrate how the company enhances user onbaording, boosts acceptance rates and improves transaction efficiency, all tailored to meet Brazil’s unique needs.

Leonardo Chaves, Regional General Manager LatAm at OKTO, said: “We are excited to showcase our innovative solutions at BIS SIGMA 2025, redefining the digital payments ecosystem. Our commitment is to deliver cutting-edge technology and a seamless, secure, and efficient payment experience for both merchants and users. The Brazilian and LatAm market demands flexible solutions tailored to its unique characteristics, and OKTO is ready to meet this need with excellence. We invite everyone to visit our booth and experience the future of payments firsthand.”

The post OKTO Sets New Standards in Digital Payments at BIS SIGMA Americas appeared first on Gaming and Gambling Industry in the Americas.

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