A few months ago, you joined a company directly related to the gaming industry for the first time. Based on your extensive experience in finance and business, and your knowledge of the Brazilian market, what contributions do you feel you have been able to make in OKTO so far, and what elements have surprised you the most about this important online payment firm?
LC: Joining OKTO has been an exciting transition for me, and I’ve been able to bring my expertise in finance and payments to the gaming industry, which has proven valuable in various aspects. My knowledge of the Brazilian Marker has allowed me to identify and capitalize on growth opportunities within the region.
One of the contributions I’m proud of is streamlining OKTO’s financial operations, optimizing payment processes, and improving efficiency. Additionally, my experience in navigating the regulatory landscape in Brazil has been instrumental in ensuring compliance with relevant laws and regulations in the market.
As for the elements that surprised me the most about OKTO, I was impressed by the company’s commitment to innovation and customer-centric approach. OKTO has a deep understanding of the gaming industry’s unique challenges and has developed cutting-edge solutions to address them. The company’s agility in adapting to market demands and its dedication to providing a seamless online payment experience for customers have been truly remarkable.
How was OKTO’s performance at the BiS SiGMA Americas fair, an edition with much more people and companies than the previous ones? What solutions did you present there?
LC: OKTO’s performance at the BiS-SiGMA Americas fair was outstanding. The increased participation of people from Brazil and LatAm as whole at the event provided us with an excellent platform to showcase our innovative solutions to a broader audience. We had the opportunity to network, meet industry peers and friends, and engage in meaningful discussions.
During the fair, we presented our latest advancements in online payment technologies, including two groundbreaking payment methods: Pay & Play and Pix Direct. Pay & Play revolutionizes the betting industry by allowing instant access to gaming platforms through first-time deposit KYC verification. Pix Direct builds upon the regular PIX Brazilian method, offering faster and more efficient open banking payment capabilities with just two clicks.
We also demonstrated our comprehensive suite of payment solutions tailored to support online sports betting operators. This includes payment aggregation with local methods like Pix and Boleto, Cross Border Services, real-time eVouchers, and advanced e-wallet options. Attendees had the chance to explore OKTO.CASH, our revolutionary eVoucher solution, which enables users to instantly load cash into online accounts. We received positive feedback and valuable insights from industry players, strengthening partnerships and gaining a deeper understanding of emerging trends and customer needs.
The event allowed us to network with key industry players, strengthen partnerships, and gain valuable insights into emerging trends and customer needs.
What possibilities does the Brazilian gaming market offer your company, despite not being regulated yet? How do you see the future evolution of the market?
LC: The Brazilian gaming market holds tremendous possibilities for OKTO, even in the absence of regulation. Despite not being fully regulated, there is a significant and growing interest in online gaming and betting among Brazilian players. Our presence in Brazil allows us to establish brand recognition, build strong relationships with local operators and stakeholders, and position ourselves strategically for future expansion.
When it comes to regulation, we closely monitor the regulatory developments and ensure that we are prepared to adapt our solutions to comply with any future regulations. Our commitment to responsible gaming practices and tailored payment solutions will undoubtedly play a pivotal role in our success in the Brazilian market. We always reaffirm our commitment to providing safe, secure, and responsible payment solutions in the gaming industry. Joining forces with local industry leaders like our recent membership with Instituto Brasileiro de Jogo Responsável (IBJR), the Brazilian Institute of Responsible Gaming, we aim to deliver the best payment experiences and foster responsible gaming practices in Brazil.
Do you think there are Brazilian bettors who fear or mistrust digital payments? How can both OKTO and the operators educate these types of players, explaining them the advantages of these tools? Could your company’s OKTO.CASH product best work for them?
LC: It is natural for some Brazilian bettors to have concerns or mistrust regarding digital payments, particularly if they are unfamiliar with the technology or have security apprehensions. To address this, education and transparency are essential in overcoming these fears and building trust. OKTO and operators can play a vital role in educating players about the advantages of digital payment tools. We cooperate with local partners in Brazil but in general in each territory we operate in and always have a detailed view on the specifics of each market – including payment behaviour, habits, mentality, and challenges of the market.
Our OKTO.CASH product is one of our payment methods specifically designed to cater to these players. With its secure and user-friendly interface, OKTO.CASH addresses concerns about safety, emphasizing the encryption protocols in place to protect transactions while also a real-time and cash-based payment method meets all the demands of users in the region. OKTO.CASH is a revolutionary eVoucher solution that enables users to instantly load cash into online accounts. Perfect for unbanked consumers, OKTO.CASH eliminates the need for a bank account or credit card and does not require an app download. Seamlessly embedded within the operators’ app/site, the method ensures maximum convenience and accessibility and soon, it will be available in over 100,000 points across Brazil.
We highlight the convenience and speed of digital payments while offering cash-based and real-time service. Our newly launched products, such as Pay & Play and Pix Direct, also exemplify our commitment to providing frictionless and secure payment solutions. By focusing on efficiency, security, and innovation, OKTO aims to create a more accessible and enjoyable gaming environment for all players. With Pay & Play, the arduous registration and verification processes are streamlined, granting instant access to betting platforms. On the other hand, Pix Direct harnesses Brazil’s open banking system, enabling lightning-fast transfers from normal Pix while keeping all the benefits of traditional Pix. Both solutions not only provide players with a frictionless gaming experience but also enable operators to attract and retain a larger customer base. By prioritizing efficiency and security, OKTO’s new payment methods are setting new standards in the betting industry.
What do you mean when you talk about having ‘a 360º approach’? What does the word ‘innovation’ represent to you?
LC: When we talk about having a ‘360º approach,’ we mean adopting a comprehensive strategy that addresses every aspect of the gaming industry’s payment needs. This approach considers the perspectives of all stakeholders, including players, operators, and regulators, to create a seamless and holistic payment ecosystem.
For us, innovation represents the driving force behind everything we do. It means constantly pushing the boundaries of what’s possible, staying ahead of payment technology and industry trends, and anticipating the evolving needs of our customers. We foster a culture of creativity and exploration to deliver cutting-edge payment experiences that empower our clients and enhance player satisfaction.
Our 360º approach also entails providing additional services beyond PIX execution. We operate our payment solutions, by actively handling responsible gaming, chargebacks, and dropped transactions, on top of already boasting the highest success (conversion) rates in the market today. We manage and operate payments, providing new features and services to Brazilian merchants. We offer managed payment services that include a function that enables merchants to hedge their BRL position via money-market funds and SELIC-based returns, leading to the protection of their funds from currency fluctuations.
In addition, we empower our merchant partners and their users with a 24/7 local customer support service, a fully dedicated support team based in Brazil with an extensive experience in betting, gaming, and insurance markets. For us at OKTO, it’s not only mandatory to deeply understand the market conditions and challenges, but also to be supported by a local team and partners that are used to playing in the region, and this is exactly what OKTO built in Brazil. Going one step further, we designed a complete back-office tool providing not only reporting but also market statistics and intelligence across banks, demographics, and tech KPIs. We also recently launched our “Card as a Service” offering. Via this service we enable our operator partners to link their users’ accounts to their own branded Mastercard which comes hand in hand with the card trend, ranking in the 2nd position of preferred payment methods in the region. Security is another part of the equation that is a foundation stone. In this respect, our team designed a complete set of KYC and AML solutions to support further merchants in the region.
How will OKTO continue to develop in the future to stay at the forefront of delivering next-generation payment experiences?
LC: To maintain our position at the forefront of delivering next-generation payment experiences, OKTO will continue to prioritize innovation, adaptability, and customer-centricity.
We are investing in research and development to identify emerging technologies and trends that can enhance our solutions. Our focus on user experience will remain unwavering, and we will constantly gather feedback to refine and continuously improve our products.
Furthermore, partnerships and collaborations expansion within the gaming and payments industry is part of our development to ensure that we are aligned with the latest industry expansions and customer expectations. Staying agile and responsive to market changes will be paramount as we grow and evolve in this dynamic landscape.
Ultimately, OKTO’s commitment to excellence and dedication to providing cutting-edge payment solutions will be the driving force behind our future development and success in the gaming industry.