OKTO Gains Access to Instant Bank Payments via Truelayer Deal

OKTO, the digital payments solutions provider delivering services for the gaming and entertainment industry, announced a new collaboration with Europe’s leading open banking payments network, Truelayer. Details regarding the new collaboration emerged Thursday and see OKTO benefit from Truelayer’s leading instant bank payment capabilities.

Thanks to the new collaboration, OKTO will supercharge its leading Cashless Solutions by bringing instant bank payment capabilities from Truelayer. Lauded as a strategic partnership, the collaboration will significantly improve the company’s products and enable it to continue to grow its presence by digitalizing the land-based gambling vertical.

Under the terms of the new collaboration, OKTO’s solutions, including OKTO.WALLET, the company’s omnichannel wallet solution and OKTO.DIRECT, the first retail payments gateway, will be powered by Truelayer’s instant payment capabilities. By integrating into the company’s payments network, OKTO’s solutions now can offer customers instant bank payments for withdrawals, as well as depositing.

Joining forces with Truelayer and enhancing its products, OKTO delivers seamless experiences for its growing customer base. At the same time, Truelayer’s capabilities are supported by its anti-fraud systems, which further boosts the security and reliability of the processes.

“We are excited to team up with OKTO and empower their users to leverage instant bank payments, both online and in retail stores.“

Roberto Villani, VP of iGaming at Truelayer

Roberto Villani, Truelayer’s VP of iGaming, shared his excitement by saying that the company is delighted to join forces with OKTO and deliver its leading instant bank payments capabilities. He acknowledged that the solution will power retail, as well as online operations, delivering efficiencies for OKTO merchants and their players in Europe. Villani also spoke about Truelayer’s fast and secure payments. Finally, he pointed out: “We look forward to working with OKTO to continue to drive innovation.”

The Company Is Excited to Team Up with Truelayer

Earlier this year, OKTO expanded further its footprint in Europe by securing approval for its wallet solution in Germany. At the time, the company’s head of Germany, Mikhail Ovsepyan, revealed that the approval marks a milestone achievement for OKTO.

Maria Magoula, OKTO’s payments director, spoke about the deal with Truelayer and explained that the company is delighted to join forces with the leading open banking payments network. She explained that the instant bank payment capabilities from Truelayer complement OKTO’s goal to deliver seamless, fast and secure payment options.

“We are thrilled to partner with Truelayer and integrate their exceptional instant bank payments into our Cashless Solutions.“

Maria Magoula, payments director of OKTO

Additionally, Magoula pointed out that Truelayer’s solutions will enable OKTO to meet the continuously growing demand from its partners by offering a scalable solution. In turn, she predicted that this will help accelerate OKTO’s expansion on the Old Continent. Finally, Magoula said that the collaboration will boost the company’s efforts to digitalize the entertainment and retail gaming verticals.