Trustly Review 2026: The Open Banking Giant vs. Agile Infrastructure

In the European fintech landscape of 2026, Trustly is synonymous with Open Banking. Having pioneered the "Pay N Play" model, they revolutionized the iGaming industry by combining deposits with KYC (Know Your Customer) data, effectively eliminating the registration form. For operators targeting regulated markets like Sweden, Germany, or the UK, Trustly is often considered the default standard.

However, dominance often breeds rigidity. While Trustly offers a premium product, it comes with premium pricing and a strict adherence to traditional fiat banking rails. For high-volume merchants and operators looking for global reach beyond the EU, or those requiring instant cross-border liquidity, the limitations of this giant are becoming apparent. This review analyzes their capabilities and introduces TODA Pay as the flexible, crypto-backed alternative for the modern high-risk economy.

The Mechanics of "Pay N Play"

Trustly’s core value proposition is friction reduction. By leveraging PSD2 (Payment Services Directive 2) API connections, they allow users to pay directly from their bank accounts. This is not just a payment method; it is a user experience overhaul.

The following list details the specific operational advantages that have made Trustly a staple in the online gambling sector:

• Instant Deposits: Funds move in real-time from the user's bank to the merchant, bypassing card networks entirely.
• Integrated KYC: The bank passes verified user data (Name, DOB, Address) to the operator, allowing for instant account creation without manual document uploads.
• Zero Chargebacks: As bank-authenticated push payments, transactions are virtually irreversible, eliminating friendly fraud.
• Direct Payouts: Merchants can push winnings back to the player's bank account instantly, a key driver for retention.

While these features are powerful, they are primarily optimized for specific European jurisdictions with mature Open Banking infrastructure. For merchants expanding into emerging markets or seeking cost optimization, relying solely on this premium rail can restrict growth potential.

The Cost of Premium: Fees and Coverage

The primary critique in any honest Trustly review is the cost. Trustly knows its value and charges accordingly. Merchants often face significant setup fees, monthly minimums, and transaction fees that can be higher than standard card processing in certain corridors. Additionally, their coverage, while deep in Europe and growing in the US, is non-existent in high-growth regions like CIS, LATAM, or parts of Asia.

TODA Pay addresses these gaps. We offer similar Open Banking capabilities but with a broader global focus and a more competitive fee structure. We aggregate multiple open banking providers, ensuring that you are not locked into a single vendor's pricing model while expanding your reach to regions where Trustly does not operate.

Comparison: The Open Banking Giant vs. TODA Pay Ecosystem

To determine the best partner for your specific business needs, it is crucial to compare the operational realities of a market leader against a specialized high-risk ecosystem. The table below contrasts the feature sets and service models of Trustly versus TODA Pay.

This comparison highlights that while Trustly is an excellent solution for specific Tier-1 markets, TODA Pay provides a more versatile and liquid infrastructure for global operators who need to manage diverse payment flows through a single connection.

Settlement Agility: The Missing Piece

The critical limitation of Trustly for the high-risk sector is settlement currency. Trustly settles in Fiat (EUR, GBP, SEK, etc.). While fast, these settlements are still subject to the scrutiny and potential delays of the correspondent banking network.

TODA Pay disrupts this model by offering Crypto Settlements. We allow you to utilize Open Banking rails to collect Fiat from users (providing the Trustly-like experience they love), but we settle your merchant account in USDT or USDC. This ensures T+0 liquidity, bypassing banking holidays and compliance freezes, and giving you instant control over your capital.

Secure Your Infrastructure with Agility

Trustly is a powerful tool, but it shouldn't be the only tool in your box. To truly scale in 2026, you need infrastructure that combines the trust of Open Banking with the speed of the blockchain economy. Upgrade to TODA Pay to secure your liquidity with crypto settlements and expand your reach beyond the borders of Europe. Contact us today to build a resilient payment stack.

Frequently Asked Questions (FAQ)

Is Trustly safe for high-risk merchants?

Yes, Trustly is very secure and works with many licensed gambling operators. However, they have very strict compliance requirements and will not work with unlicensed or grey-market entities. TODA Pay offers specialized solutions for a wider range of high-risk business models.

Does Trustly support crypto payouts?

No. Trustly is purely a fiat-to-fiat payment system connecting bank accounts. They do not touch cryptocurrency. TODA Pay bridges this gap by allowing fiat collections via banks and settling to the merchant in USDT.

How does TODA Pay's Open Banking differ from Trustly?

TODA Pay aggregates multiple Open Banking providers. This means if one banking rail is down or expensive, we can route traffic through another. Additionally, our crypto settlement feature provides faster liquidity than Trustly's traditional bank settlements.

Can I use Trustly in Turkey or Kazakhstan?

Trustly does not operate in these regions. To accept payments in Turkey (Havale) or Kazakhstan (KZT P2P), you need a specialized provider like TODA Pay that has deep local connectivity in these specific markets.

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