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Open Banking
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April 8, 2024
3 min

ESPN Bet and Trustly Expand Instant Payouts with FedNow®️

Trustly

We’re excited to deliver some big news! Trustly is now actively transacting on FedNow®️, the Instant Payment rail developed by the Federal Reserve, in support of our customer, ESPN BET. This milestone marks a significant breakthrough for Trustly, enabling us and our customers to expand Instant Payouts' reach to a broader audience.

Since the initiation of RTP®️, Trustly has been driving significant adoption of instant payments, with transactions approaching 10% of the total RTP®️ network’s volume. In Q4 2023, Trustly RTP®️ growth continued to accelerate, growing +81.9% in transaction volume and +79.3% in payment value over the previous quarter. Looking year over year, Q4 transaction volume and payment value growth increased by over +200%. FedNow®️’s incremental bank coverage will only further solidify Trustly’s position as a leader in instant payments in the US.

“Trustly is thrilled to be able to transact via the FedNow®️ rail. This strategic move allows Trustly to further the adoption of Instant Payments nationwide and empower our valued clients, such as ESPN BET, to expand their payment options,” said Clark Dumas, Vice President of Merchant Success NA at Trustly.

Leveraging Trustly’s capabilities, ESPN BET now offers its customers instant payouts via the FedNow®️ Rail, making them the first sports betting merchant to accomplish this and expanding their instant payouts reach to previously underserved markets.

"We are delighted to partner with Trustly in delivering Instant Payouts to our players. The integration with FedNow®️ adds a new layer of flexibility, enabling us to extend our platform to players across the country seamlessly,” said John Edward, Vice President of Product Management at PENN Interactive.

Trustly's adoption of FedNow®️ aligns with its commitment to providing cutting-edge solutions that are changing the US payments industry. As Trustly continues to further instant payment adoption, this integration with FedNow®️ underscores our dedication to driving innovation and delivering seamless financial experiences.

 

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