16 June 2020
The combined solution meets the sector’s demand for a secure, cashless payments solution using the OKTO.WALLET payment app that requires no additional technology investment at the gaming machine.
OKTO, the licensed fintech provider of digital payment and player engagement applications, has entered into a partnership with Rimini Systems, an independent systems supplier for the gaming industry, to provide a complete digital cashless solution to UK Pub and AGC sector.
The powerful universal open-loop mobile payment app, tailored for the gaming industry, and the field-proven machines systems technology, are leveraging on open industry protocols fully supported by the principle manufacturers of digital machines in pubs and AGCs.
The partnership is in line with OKTO’s focus on scaling its flexible cashless wallet to the gaming and hospitality sector, requiring minimal effort from the operator side and no capital expenditure commitment, and enabling a safe payment experience and broader payment options for consumers.
Under this partnership, OKTO and Rimini Systems aims to reduce payment friction, enhance the player experience and boost retention rates, allowing real-time, instant transfers between gaming machines and the OKTO.WALLET player app in a simple, secure and fast way. Designed to protect the player and in line with the social responsibility quota, the cashless app supports consumer demand for effective responsible gaming tools, following a secure KYC process, applying the relevant transaction limits and age verification rules.
By combining the latest in technology, multi-layer security and utilising market-proven algorithms, all funds-transfers are audited to detect fraudulent activity, including money laundering, gaming manipulation and cash peripheral attacks to protect both players and operators from fraud. The FinTech provider is financial licensed to operate e-wallets across the UK and Europe under the European Payment Services Directive 2 (PSD2), and has processed 1,5 billion euros in payments while upholding the strictest of security standards. Additionally, OKTO is backed by partnerships with leading banks, card acquiring and financial service providers. Having a deep understanding of the challenging regulatory climate as well as the UK Pub and AGC sector demands, the combined solution eases the compliance burden, enabling Secure Data Connection through the highest level of data encryption that OKTO.WALLET supports.
Simon Dorsen, Director of Gaming at OKTO, said: “The UK is a fast adopter of cashless technology, so it was a natural fit for OKTO to invest in the market and our partnership with Rimini enables us to offer a very strong cashless solution to Gaming Machine and Retail Operators in the Pub & AGC sector that address their business needs and will provide their players with an enhanced experience. The COVID pandemic has bought into sharp focus how a flexible cashless solution is critical to enable enterprises to be agile and adaptable within the existing touchpoints and I expect high demand for our combined solution.
For the players, the OKTO.WALLET is not only the safe and fast transactional tool that they demand but it also provides them with the freedom to move and use their funds as they wish instantly, not only on gaming machines.”
Rob Wheeler, Director at Rimini Systems, added: “Our partnership with OKTO further strengthens our mission to deliver system technologies that significantly enhance land based gaming operations. The Rimini Enterprise cloud based solution provides OKTO.WALLET with an always on connection to registered gaming machines and facilitates in the secure transfer of electronic fund transfers, both on and off gaming machines. Machine operation specific features within Rimini Enterprise allows OKTO.WALLET to be offered as a complete, off-the-shelf product, including a core transactional wallet engine, anti-fraud mechanism, as well as the player App, merchant portal and supportive web Apps that make it the ideal solution for both the Pub and AGC sector from every aspect.”
