Speed, security, support, and the delivery of a seamless and frictionless payment journey at every touchpoint underpin the OKTO offering and boost player engagement. Galina Bineva Commercial Director of OKTO in an interview with Games Magazine Brasil walks us through OKTO’s payment solutions for Brazil and LatAm and explains how they are delivering the optimum experience for both merchants and players.
In order to get even more familiar with the brand in Brazil, what is OKTO and what are the solutions that OKTO can provide to gaming operators? Can you deepen the concept of omnichannel payment and its advantages?
OKTO offers a comprehensive and reliable payment platform that powers responsible digital payments across the full range of consumer experiences and requirements. Our all-in-one platform unlocks multiple payment options via our fully integrated suite of payment solutions in Latin America.
When it comes to our payment aggregator solutions, we are fully focused on localisation. Wherever we operate we do so in partnership with the local industry and this is what we are doing in Brazil in order to deliver payments that meet the specific requirements of both merchants and consumers in the omnichannel gaming industry.
Coming to the specifics, OKTO has designed a powerful PIX payments solution for merchants courtesy of a restful API integration that enables online payment processing in a fast and convenient way for merchants while ensuring a flawless customer experience for their users. Cross Border is also part of our offering, powering the growth of our merchants and partners in and out of Brazil in a safe, secure, and fast way. In addition, we have strengthened our presence with solutions that have already been successful in Europe, and have localised them for the LatAm market. OKTO’s innovative eVoucher solution is fully aligned with online merchants’ vision to deliver an entirely seamless and frictionless topping-up process via an embedded solution in operators’ sites or apps. Users can load their online account with cash in real-time at the nearest point of sale from OKTO’s constantly growing network.
In which international markets do you have a leading position already fully consolidated?
Based on our integrity as a responsible and progressive payment tech brand, OKTO has built an international profile delivering payments solutions for the leading brands in omnichannel gaming, leisure, and entertainment industries in countries including Cyprus, Germany, Greece, Italy, the Netherlands, Romania, Spain, the UK and of course Brazil. It’s a fantastic endorsement and sign of confidence that industry trendsetters have selected OKTO’s payment platform and technology to drive payment innovation on an international stage.
Why should an operator select OKTO as a payment partner?
Speed, security, support, and the delivery of a seamless and frictionless payment journey at every touchpoint underpin the OKTO offering and boost player engagement. We know that modern consumers would quickly shift their payments or even change the online platform they are using if the experience fails to meet or exceed their expectations. The real-time nature of payment methods along with faultless transaction completion represents the solution delivered by OKTO and is evidenced by the fact that we boast the highest success (conversion) rates in the market.
OKTO supports consumers with all of the tools to reduce friction, increase security, drive conversions and build loyalty. OKTO invests in actively handling responsible gaming, chargebacks and dropped transactions. By successfully innovating across the entire supply chain, we can drive down the cost for operators without compromising on quality and service. We also ensure that funds across all payment methods are aggregated and therefore combined into a single liquidity pool that makes deposits and withdrawals fast and easy to manage. OKTO complies with the most stringent security standards. Our bank-level privacy and security policy ensures protection against misuse. Additionally, transactions made via OKTO are automatically verified to prevent fraudulent conduct. OKTO process all payment solutions in accordance with the Brazilian legal framework.
Do the OKTO solutions include tools for responsible gaming?
Safer gambling is a central plank of the OKTO system which is fully aligned with requirements set out by Gaming Regulators across the world. Designed to protect both players and operators, OKTO is fully equipped to follow local regulatory demands, ensuring operators remain compliant and uphold the highest standards of social responsibility.
What assessment do you make of the Brazilian market and why do you think it is the right time to enter?
We can’t separate the developments that are continuously taking place in LatAm from those experienced in the rest of the world. Even pre-pandemic there had been a quite pronounced move away from cash and in favour of more dynamic digital payment methods and there’s no doubt that the evolution in payments was accelerated by the response to the pandemic both on the part of governments and merchants. We are living in a phygital world, and this is exactly what OKTO does by offering phygital payment experiences to both retail and online. With reference to Brazil, its economy and population size combined with the rapid evolution of the payments industry make it a highly attractive market. The payments landscape in Brazil is dynamic and competitive, this is why our strategy is based on cutting-edge innovation combined with a local approach. We cooperate with local partners in each territory and always have a detailed view on the specifics of each market – including payment behaviour, habits, mentality, and challenges of the market.
Are you also looking to enter other markets in Latin America?
The Latin American gaming market is one of the fastest growing on the globe and the very high success rate in deposits and pay-outs illustrates how our payment journey is being embraced by Brazilian players. The speed of change and the adoption of OKTO’s digital methods that we are witnessing has never been greater or more exciting. It is taking place in every region and in every industry – and Latin America is certainly no exception to this exciting dynamic.