Know Your Customer Regulations (KYC)

To operate legally, online casinos must adhere to the licensing and regulatory requirements set by the relevant authorities. For instance, in New Zealand, online casinos need to comply with the regulations laid down by international bodies like the Malta Gaming Authority or the Gibraltar Regulatory Authority.

A key requirement is the Know Your Customer (KYC) regulations. These ensure that players provide detailed information to prevent activities like money laundering or fraud. Gambling is a known avenue for criminals to ‘clean’ their money by converting it into legitimate funds.

This means when you sign up at a new casino, you need to verify your identity by providing documents like a passport, driver’s licence, or a utility bill. While you might not need these documents immediately, you’ll certainly need them when withdrawing your winnings.

All this admin can slow things down and is a bit of a hassle when you have to upload documents and wait for approval. Plus, there’s always the risk of your details being intercepted and misused.

If only there was a way to streamline these regulations… Well, now there is!

How does Pay N Play work?

Pay N Play is powered by the reliable Trustly payment service. Trustly allows you to make online payments directly from your bank account without sharing personal financial details like your account number or card information. Typically, there are no fees when using Trustly for online payments.

The beauty of Pay N Play is that it lets you skip much of the form-filling and ID verification usually needed to start playing at a new casino. You might still need to fill out a basic registration form with your name and email, but you won’t need to submit additional ID documents.

This isn’t due to any loophole; it’s because your bank has already verified your details when you opened your account. By using Pay N Play, you bypass extra KYC requirements since your bank account details have already been confirmed.

This process is not just more convenient for players; it’s beneficial for casino operators too. Many potential players abandon registration due to the cumbersome process, and even those who complete it often don’t make a deposit. Pay N Play combines registration and payment into one step, speeding up the process so you can get straight into the games.

In practice, when you visit a new casino site, instead of starting with a registration form, you make a deposit from your bank account. There’s usually an option to start immediately, indicated by “Deposit And Play Now” or a similar button.

You’ll be directed to Trustly’s payment service, where you select your bank (for New Zealand players, this could be ANZ, ASB, BNZ, or Westpac) and enter your online banking ID. You’ll then verify your identity and authorise the payment using your usual banking PIN. Choose which account to use, enter the deposit amount, and follow your bank’s payment process.

Trustly then sends the necessary KYC data directly to the casino, so you don’t have to repeat the process each time you try a new casino. Your player account is created automatically, allowing you to start playing immediately. You don’t need to pre-register with Trustly; the service redirects you to your bank’s online service to complete the transaction. Just make a deposit!

Casino operators love this service too. It makes it easier for new players to start and reduces dropout rates significantly while ensuring compliance with KYC requirements. More casinos are adopting this convenient service, which is great news for players.

You might think it sounds too good to be true, but it gets even better! Withdrawing your winnings is simpler too. You can return your prize money directly to your bank account with one click. The transfer is almost instant, as all necessary details were submitted when you deposited.

Some might wonder if casinos like this, as they usually take days to process withdrawals. Previously, they had to conduct KYC checks and authorise each payment. Now it’s all automated, allowing for immediate payments. Although casinos have to pay out faster, it saves on admin costs and staffing.

Ultimately, while casinos don’t hold onto your money as long, it boosts player satisfaction. Happy players tend to be more loyal and return more often.

And speaking of returning, Pay N Play makes it easier. Normally, you’d have to log in again, remembering your username and password. But with Pay N Play, you can use the ‘Resume Play’ feature to restart almost instantly with your online banking ID. No more usernames and passwords!

What’s not to like? Pay N Play has gained popularity since its launch. More casinos are adopting it as players appreciate its simplicity. It’s much easier to start at a Pay N Play casino compared to traditional payment methods. With Pay N Play, everyone’s a winner!

Different Types of Pay N Play Casinos

For players, there are two types of Pay N Play casinos. Many offer it as an option alongside other payment methods like debit cards and e-wallets.

However, some new casinos, and a few rebranding ones, are choosing to be exclusively Pay N Play, using it as the only method for joining and payments. This is attractive for operators as it’s simple and requires minimal admin, and most potential customers have a bank account.

There are benefits for players at exclusive Pay N Play casinos too, such as instant withdrawals and the ‘Resume Play’ feature. Players at ‘hybrid’ casinos may face additional login steps when starting play or making withdrawals.

On the flip side, players who prefer other payment methods are excluded from pure Pay N Play casinos.

Summary

Pay N Play is a convenient way to simplify online casino gaming. Supported by Trustly, it’s more than a payment method; it’s a one-stop registration, payment, and withdrawal service with no extra fees.

You can find ‘pure’ Pay N Play casinos, where it’s the only option, and others that accept it among other methods. Both have advantages: ‘Pure’ casinos offer instant registration and withdrawals, while ‘hybrid’ casinos allow other payment options.

Its simplicity and convenience mean Pay N Play’s popularity is rising. More casinos are offering it or operating as purely Pay N Play. Look for both on the White Hat Gaming platform when seeking a new online casino.