News and Press Releases
OKTO expands its advanced OKTO.CASH payment service in India
June 25, 2024
OKTO expands its advanced OKTO.CASH payment service in India

OKTO is proud to announce the expansion of its revolutionary real-time cash-to-digital closed loop payment service, OKTO.CASH, into the Indian market. This strategic move marks a significant milestone in OKTO’s mission to transform payment experiences for both merchants and consumers globally.

With the introduction of OKTO.CASH in India, online merchants now have the capability to offer cash-to-digital payments at hundreds of thousands of locations across India, focusing also on small cities. The first e-merchant is already benefiting from this service, with many more expected to follow throughout the year.

OKTO.CASH is now accessible through an extensive network of over 100,000 retail points, thanks to a collaboration with a pan-Indian network. The company plans to extend its reach to more than 500,000 retail points by the end of the year, ensuring wide availability for consumers to complete their closed-loop cash-to-digital OKTO.CASH transactions.

OKTO has a locally based dedicated team to support this expansion, ensuring the best possible service and assistance.

“This expansion underscores our commitment to delivering superior payment experiences at every transaction and in every region that requires such services,” said OKTO’s Chief Distribution Officer, Björn Katerbau. “We are dedicated to empowering online merchants with enhanced payment service offerings, aligning with our strategy of being a last-mile expert and helping online merchants acquire new consumers”

The development highlights OKTO’s dedication to providing a seamless and efficient payment solution, reinforcing its position as a leader in the digital payment landscape. OKTO.CASH enables online merchants to offer a reliable and instantaneous payment option, meeting the diverse needs of consumers in the rapidly evolving digital economy.

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