International payments technology firm OKTO has strengthened its foothold in another European market via a takeover of the Swiss division of Aplauz Financial Services.
The Athens-headquartered company states that it hopes to expand its customer base and introduce new payment methods to Switzerland following the acquisition. The financial terms of the deal have been disclosed.
Thanos Mondanos, OKTO’s Head of Business Strategy, said: “Welcoming Aplauz CH GmbH into the OKTO Group marks a significant step forward in our international growth strategy.
“This acquisition reinforces our commitment to expanding in high-potential markets like Switzerland, allowing us to deliver a stronger portfolio of payment solutions that meet evolving customer demands.
“We are confident that Aplauz CH GmbH’s established presence, combined with OKTO’s innovative payment technologies, will create substantial value for both users and partners in the region.”
Two notable developments have occurred as a result of the transaction. Firstly, OKTO.CASH, OKTO’s cash-to-online payment solution, will make its debut in Switzerland. This follows the solutions delivered in Romania, Greece, Cyprus, Italy Serbia, and most recently, the Czech Republic and Germany.
Secondly, Aplauz’s flagship prepaid digital card product will be rebranded as OKTO.VOUCHER and offered to Swiss customers under this identity. The solution is delivered through both online merchants and retail distributors.
Goran Abramović, Director of Aplauz Financial Services Ltd., mentioned: “We are thrilled with the successful sale of our Swiss consumer business and have every confidence in OKTO’s capacity to drive further growth in this segment within the Swiss market.
“Aplauz Financial Services remains fully committed to supporting the Swiss market by continuing to provide our cutting-edge voucher issuing technology platform to OKTO and offering ongoing technical support to our valued partners.
“We look forward to seeing the positive impact OKTO will bring to this evolving market.”
