Multinational payments provider OKTO has signed another deal in Germany, where the company is positioning itself as a prominent partner to the betting sector.
In its latest German push, Greece-based OKTO has partnered with Interwetten, one of the largest retail and online betting and gaming groups in the country, which will utilise OKTO’s OKTO.CASH solution.
OKTO.CASH is an omnichannel payments product, allowing customers to convert physical cash into digital funds in online bookmaker accounts. OKTO’s network of 14,000 retail locations across Germany will underpin the product’s reach for Interwetten customers.
“We’re glad to partner with Interwetten for the launch of OKTO.CASH in Germany,” said Mikhail Ovsepyan, Head of Germany at OKTO.
“This partnership underscores our dedication to expanding across the region and beyond, while delivering cutting-edge payment solutions that meet the needs of iGaming fans. Our goal is to transform the gaming payment experience with unmatched convenience and security.”
The deal marks OKTO’s second German partnership, building on an agreement signed with bet-at-home back in July. This deal was its first signed in Germany after taking the OKTO.CASH product live in the country that same month.
Rene Hartl, Head of Payment Operations at Interwetten, remarked: “Our collaboration with OKTO highlights our commitment to providing innovative, user-friendly payment solutions.
“With OKTO.CASH, our players can easily deposit cash into their Interwetten accounts from familiar locations, giving them unprecedented convenience and flexibility.”
Germany is one of Europe’s largest betting and gaming markets, with companies like Interwetten active in both the retail and online sectors. The growing popularity of online gaming in recent years has led to firms like OKTO seeking to bridge the payments gap between the bricks-and-mortar and web-based gaming spaces.
The firm’s activities in this area are not limited to Germany. The past year has seen OKTO engage in partnerships in the Czech Republic, Italy and its home market of Greece, though perhaps most prominent is its activity in Latin America, where the regional betting sector is set to see a major market launch in Brazil.
