Okto Joins European Casino Assn. to Advance Digital Payment Efforts

Posted on: April 15, 2022, 08:36h. 

Last updated on: April 15, 2022, 12:24h.

Erik Gibbs Read More

Expertise: Asia Pacific Gaming, Gaming Business, Global Gaming.

Okto, a digital payment application and platform, is aligning itself with the European Casino Association. The goal is to further the reach of digital payments in the European gaming space.

Digital is the future in many aspects of daily activity. Banks that only operate online, digital education, and online casinos are just a few examples. Even land-based companies are incorporating digital solutions, including digital payments.

Okto, a company dedicated to digital payments, will use its strengths to support the European gaming community. It already began through different partnerships but is reinforcing its commitment. Okto announced this week that it is partnering with the European Casino Association (ECA).

Okto Joins the ECA

The ECA represents 900 casinos across 28 European countries, although it also influences operators in other regions. Okto will be able to provide them with advice and strategic implementation strategies related to digital and cashless payments.

Digital payments are one sector that is rapidly developing within the gambling industry. There is a constant demand for innovative solutions that meet the requirements of regulators and the needs of merchants and consumers.

Digital payments are one of the fastest developing sectors within the gambling eco-system; as such, there is a constant requirement and demand for innovative companies to deliver solutions that meet the needs of regulators, merchants, and consumers,” states OKTO chief commercial officer Simon Dorsen.

Last month, Okto signed a partnership with Forward Systems, the Unidesa Interactive arm that supplies management systems to Europe and Latin America casinos. The partnership brings Okto’s mobile-first cashless solution to gaming machines in casinos and arcades across Spain. Because Unidesa belongs to Cirsa, it could also lead to an extension of the services to the rest of the company’s footprint.

Cashless Continues to Gain

Okto’s alignment with the ECA is the latest in a string of examples of how digital payments continue to find a place in land-based gaming operations. Resorts World Las Vegas and a number of other properties are now incorporating cashless options.

Earlier this week, JCM Global announced a new partnership that will make it easier for any casino to adopt digital payments. Its Fuzion and iVizion solutions are now part of Global Payments Gaming’s VIP Mobility platform.

The new integrated product provides a cashless solution for all casinos, regardless of the CMS provider. It allows patrons to pay via their mobile apps and helps casinos avoid expensive CMS upgrades, system integrations, and IP Pool fees that are present with some cashless alternatives.

Through the integration, casino guests can quickly fund their slots, tables, and restaurants using only their smartphones. In addition, there are no complex system integrations needed at any point.

This allows players to choose how they want to interact with their favorite table game or slot machine. It also increases their funding options by allowing them to cash in and out quickly and efficiently.

VIP Mobility is a cashless option that doesn’t require the creation of a new wagering account. This, according to JCM Global, makes it more compliant with many gaming and financial regulatory requirements.