As with any payment solution, there are advantages and disadvantages to using TrueLayer for online casino payments:
Pros of TrueLayer
Instant Payments with TrueLayer
One of the main advantages is TrueLayer's instant payment services. It helps online casinos save time and money, while also providing players with a faster and more convenient payment experience. Instant payments are processed and settled in real-time, allowing players to access their funds immediately. This is a significant departure from traditional payment methods, which can take several days to clear and settle.
This method eliminates the need for manual processes, reducing the time and resources required to access financial data and payment services. In addition, the use of instant payments can reduce transaction fees, making it more cost-effective for online casinos to process payments.
Open Banking with TrueLayer
TrueLayer's open banking services allow online casinos to access financial data and payment services more easily and securely. Open banking is a system that allows banks and other financial institutions to share financial data with third-party providers, such as online casinos, through APIs. This allows online casinos to access a wider range of payment options and financial data, improving the efficiency and effectiveness of their operations.
Cons of TrueLayer
TrueLayer Fees & Limits
However, there are also potential drawbacks to using TrueLayer for online casino payments. One potential downside is that some online casinos may charge fees for using TrueLayer payments, which can add up over time. Additionally, there may be limits on the amount of money that can be transferred using TrueLayer payments.
Not for Traditional players
Another potential disadvantage of using TrueLayer payments is that some players may prefer to use more traditional payment methods, such as credit cards or bank transfers. This may be due to concerns about the security of their financial information or a lack of familiarity with digital wallets and other newer payment methods. Moreover, as these are relatively new technologies, we may still be learning about some of their disadvantages.