05 January 2021

OKTO and GeWeTe partner up for more efficient global cashless solutions

The initiative will offer innovative, secure and cashless transactions at Cash Redemption Terminals

OKTO, the licensed fintech provider of digital payment and user engagement applications, enters into an agreement with GeWeTe, a leading company in the area of cash handling systems, to provide safe, reliable cashless payment services through Cash Redemption Terminals (CRT) internationally.

Utilising the latest in mobile payments and self-service technology, as well as advanced security, OKTO and GeWeTe redefine the user journey, enabling a safe payment experience and broader cashless payment options for consumers.

Under this partnership, GeWeTe Cash Systems expand their functionalities with the addition of OKTO.WALLET solution, enabling Cash Systems to act as virtual cashiers and process cashless transactions between the Merchant System. With GeWeTe’s manufacturing expertise and deep knowledge of highly secure systems, the self-service CRT will further increase the operators’ cash handling efficiencies with the inclusion of the mobile wallet solution.

Alongside, OKTO solution will significantly enhance the users’ experience, allowing them to pay with OKTO.WALLET app at the GeWeTe’s CRT to digitally deposit funds in the gaming or betting location and, likewise, withdraw funds onto the OKTO.WALLET in a fast, easy and secure way.

The new arrangement will enable existing and new operators of GeWeTe CRTs to take advantage of end-to-end instant digital transactions within the venues through the seamless integration between the OKTO.WALLET and the GeWeTe CRTs, removing or reducing cash handling across all gaming touchpoints.

The fintech provider designed the wallet app as an intuitive mobile-first experience, transforming user’s mobile into a fully-fledged mobile payment device. Based on QR Code payment technology ensures that the app is accessible by all smartphones without any limitations. The OKTO.WALLET App is available on Google App store and Apple store while it supports six languages and can be used by consumers across the 30 EEA countries.

Simon Dorsen, Director of Gaming at OKTO, said: “Our partnership with GeWeTe is fully aligned with our mission to deliver a truly end-to-end cashless solution across the entire retail gaming ecosystem.

Cash is increasingly relegated to the edge of the electronic grid, and we are moving from the cash-lite world to the cashless era. We are evolving from advancements like TiTO, that brought great efficiencies and less cash handling in venue for operators, to a complete cashless ecosystem with the OKTO.WALLET that meets the scan-and-go users’ demand while meeting the gaming operators’ quest for cashless solutions.”

Aristidis Tsikouras, CEO of GeWeTe, added: “We are pleased to partner up with OKTO to improve cash handling in the gaming area, but also in the retail market.

The collaboration will enrich the proposition for all our clients, bringing more convenience, safety and security through an advanced cashless payment service.”

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