Midnite Launches TrueLayer Pay by Bank Deposits and Withdrawals

Midnite has integrated TrueLayer’s Pay by Bank service, allowing its UK customers to make instant deposits and withdrawals directly through their bank accounts.

The payment option has been added across Midnite’s mobile-first betting platform. It removes the need for customers to enter card details when funding their accounts.

Instant payments through banking apps

Customers using Pay by Bank select their bank before being redirected to its mobile app. There, they approve the transaction using their usual authentication method. This can include biometric security such as fingerprint or facial recognition.

Once authorised, the payment is confirmed in real time and the customer is returned to Midnite’s platform. The same bank-based infrastructure can also be used to process withdrawals.

Midnite said the integration would enable customers to complete payments in a few taps while providing greater certainty over the status of each transaction. The operator believes the app-to-app journey is particularly suited to customers accessing its sportsbook and casino products on mobile devices.

Unlike traditional card payments, Pay by Bank does not require customers to manually provide their card number, expiry date or security code. Transactions are instead authorised within the customer’s existing banking environment.

Midnite reports strong early performance

Midnite said the payment method had delivered strong results following its initial launch. It did not publish figures covering transaction volumes, conversion rates or payment speeds, however.

Christian Huynh, lead product manager at Midnite, said customers increasingly expected gambling payments to match the speed and convenience offered by other mobile services.

“At Midnite, we want the experience to rival the best consumer apps, and payments are no exception [...] Players expect money in and out to be instant and secure. TrueLayer’s Pay by Bank gives us the infrastructure to deliver that.” - Christian Huynh, lead product manager at Midnite

Founded in 2018, Midnite operates a proprietary technology platform covering sports betting and online casino gaming. The company has positioned its mobile experience as a central part of its efforts to compete with more established UK betting brands. It has launched several sponsorships of football teams in recent years and is becoming more visible. 

The TrueLayer integration forms part of that strategy, with deposits and withdrawals representing two of the most important points in the customer journey.

TrueLayer expands its betting presence

TrueLayer provides bank-based payment services across the UK and Europe. The company said its network now reaches 27 million users across the two markets.

Roberto Villani, vice-president of iGaming at TrueLayer, described online gambling as a sector in which payment technology is regularly tested by customer expectations around speed and reliability.

“Players want money in and out in seconds, and operators need certainty on every transaction,” Villani said. “That is what Pay by Bank was built to do.”

Villani added that Midnite’s payment experience now matched the operator’s wider focus on providing a modern platform for a new generation of customers.