OKTO, the specialist fintech provider of digital payment and user engagement applications, has linked with GeWeTe to provide cashless payment services through Cash Redemption Terminals (CRT) internationally.
The newly formed collaboration will utilise new tech in mobile payments and security to enhance the cashless payment journey for consumers.
As a result of the partnership, GeWeTe will expand its capabilities through the OKTO digital wallet, elevating the way it allows users to embark on a cashless journey.
Simon Dorsen, Director of Gaming at OKTO, stated: “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.”
The new arrangement lands at a time when limiting cash usage is taking on heightened importance, with much of the world continuing to navigate the coronavirus pandemic.
Existing and new operators of GeWeTe CRTs will utilise end-to-end instant digital transactions within the venues through the seamless integration between the OKTO.WALLET and the GeWeTe CRTs.
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.”
Expert Analysis: Combining seamlessness with security through the utilisation of new tech, this collaboration is in a strong position to bolster the offering of both firms, as they continue to focus on the cashless journey.