OKTO and Light & Wonder come together for expansion of cashless payments

Enhancing the growth of cashless payments, OKTO has agreed on an exclusive partnership with Light & Wonder.

The link will enable cashless payments on Light & Wonder Gaming Machines across the Bingo, AGC, LBO and Casino sectors.

Simon Dorsen, OKTO’s CCO stated: “This is another major success for OKTO and represents a ringing endorsement of both the performance and integrity which underpin the OKTO payment platform and its unlimited capabilities. 

“Light & Wonder is a hugely respected innovator and a leading player in the industry, and we are excited about our new partnership that empowers operators to introduce cashless payments on the Light & Wonder gaming machines across the different gaming and betting sectors.”

He added: “Another important feature and a talking point in every customer meeting and conversation is the contribution OKTO makes to responsible gambling. OKTO payment platform is fully equipped with a safer gambling toolkit as well as a powerful RegTech API that manages all KYC, AML, and fraud queries, providing all the features that enable operators to remain compliant and uphold the highest standards of social responsibility.” 

The collaboration builds on the growth of the cashless payment journey, which has been embraced by a wider demographic of consumers in recent years, specifically off the back of the pandemic. 

Wayne Ellard, VP Product Management at Light and Wonder added: “At Light & Wonder we are constantly looking at how we innovate and deliver added value for our customers and their players. We are delighted to partner with OKTO, integrating with their platform to enable our customers to take advantage of their cashless payment solution. 

“We particularly support the focus on player protection, which builds upon our industry leading tools that are already available to our UK customers. We look forward to enabling this innovative cashless capability for our UK customers by the end of this year.”

Expert Analysis: The role of the cashless payment journey is significant within gaming and betting. Its integration into the space takes on a unique journey from the other industries. However, its impact can also be key given the fast paced nature of the space.