Trustly is a Swedish account-to-account payments company headquartered in Stockholm, founded in 2008, whose open-banking rails let customers deposit and withdraw directly from their bank accounts without cards. It is the dominant bank-payment method for online gambling in the Nordics and much of Europe, and the technology behind the Pay N Play registration model, in which a bank identity verification opens an account and funds it in one step, adopted by operators across Sweden, Finland, Estonia and Germany. Trustly also operates in the United States, where it connects to bank accounts for deposits at regulated sportsbooks and online casinos, and is licensed as a payment institution in Sweden with passporting across the European Economic Area.
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Attorney General James Uthmeier has gone after the operators and the payment rails in the same action, naming Worldpay, Trustly, Praxis and Breeze Labs alongside Stake and VGW. Suing the processors is the part the rest of the industry should be reading.