Samuel Barrett Director of Gaming, Trustly
Samuel Barrett is Director of Gaming at Trustly. Samuel has been in gaming for over 11 years, working primarily in financial technology and payments. Before Trustly, Samuel held various management roles at ClickandBuy, Paysafe, and most recently Foreign Exchange Brokerage, World First.
In a humanless self-service environment, where would Trustly fit in?
For more than 10 years, Trustly has been making it fast, simple and secure for players to deposit and withdraw their money at online gaming sites. Now, with the introduction of Trustly Live, we’re moving into the offline gaming world and removing the need for cash in land-based casinos.
While Trustly Live is based on our digital product, there is still some human interaction needed. For example, a staff member or cash attendant must manually verify the player’s identity.
Land-based operators often struggle with carrying out proper KYC and AML checks, and while Trustly Live brings them one step closer to digitalising their establishment and streamlining clunky regulatory requirements, I don’t imagine human interaction disappearing any time soon.
process, leveraging the best technology and security software available.
Choosing the right partner can help operators optimise the identification process in a compliant and cost-effective manner that actually boosts customer engagement and helps establish a trusting relationship from the get-go.
What is your vision for the retail gaming market in 2020 and beyond?
Retail’s future success will be driven by focusing on providing a unique environment, stronger customer relationships and an experience underpinned and enabled by digitisation.
For today’s customer, betting shops need to have a modern, comfortable feel. In effect, making it a place people want to spend time in beyond just placing a bet. Te automation which we’re currently seeing now will be a key enabler of this, allowing a stronger focus by staff on the ‘value-added’ delivery of customer services. Te key strength of retail is the personal interaction that comes with it, and operators need to find the right balance of automation by creating a highly personalised service with reduced staff levels. Get it right, and operators can use technology to reduce net costs and ensure higher betting turnover during peak times.
Increased regulations, financial restrictions and anti-money laundering requirements are all causing huge disruption to operators and traditional payment methods. Gaming operators offering retail and online products need to find ways to efficiently manage KYC without creating friction.
Trustly supports real-time deposits and instant withdrawals for users. Do you foresee any difficulty in integrating your technology into the future retail gaming market? Does a staff-less retail space threaten the payment verification process in any way?
To clarify, we aren’t trying to create a staffless, entirely automated casino. And truthfully, I’m not sure we will ever see that happen. A cashless casino is a different story, but even in that case, it still must offer something that online casinos don’t have in order to succeed. Tat differentiator is the social experience and top-notch customer service, which can’t be provided by a terminal.
What opportunities and challenges do you anticipate in the gaming retail market over the next 12 months?
More and more, regulators are becoming stricter around responsible gaming and AML. It’s imperative that casinos consider how suppliers can help them become better. Tis is a challenge for the industry, but an opportunity for Trustly.
We support operators in verifying KYC data and checking self-exclusive registries, which helps them have more visibility and better track players.
Also, by working with the current casinos’ AML policy, we’re able to restrict the amount that a player can deposit and at what frequency. Tis means we can lower the risk of money laundering and limit our pay-out product to match the operator’s deposit policy. Tere’s so much flexibility with the product, and that’s why operators are so excited about it.
NEWSWIRE / INTERACTIVE / MARKET DATA P79
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