Brazil has emerged as a focal point in discussions surrounding the flourishing Latin American gaming market, with recent positive legislative developments capturing global attention and fostering an optimistic outlook for the region’s gaming industry. Digital payment solutions provider OKTO is part of this transformation, committed to elevating the online payment experience for betting operators.
In an interview with Yogonet, Leonardo Montenegro Chaves, Country Manager Brazil for OKTO, shares his insights on the company’s strategy for the region.
Chaves emphasizes OKTO’s dedication to employing advanced payment technologies and innovations, focusing on creating a seamless and secure payment ecosystem that offers diverse payment options.
The key areas of emphasis include boosting transaction speed, fortifying security measures, and introducing adaptive features to meet the evolving needs of the online betting industry. Tailoring solutions to the specific needs of operators and their users and forging long-term partnerships with operators are integral aspects of OKTO.
Beyond meeting industry standards, OKTO actively promotes responsible online betting, cultivating a secure and trustworthy environment. “Our local team continuously refines payment flows and customer journeys to ensure seamless experiences in the regions where OKTO operates. This is not only followed in Brazil but across all regions we operate in, including Latin America, Europe, and North America, and in the regions that the company expands within 2024,” he says.
Chaves also highlights the importance of quick and seamless pay-ins and payouts in the dynamic landscape of online betting. “OKTO’s solutions offer a unified payment platform, simplifying integration for merchants and unlocking multiple local payment methods, including instant pay-ins and payouts, contributing to an enhanced player experience,” the executive points out. “We tailor our solutions for the Brazilian market according to the region’s demands. This can be seen in our recent launches of “Pay And Play” and “Pix Direct,” prioritizing speed, security, and cost-efficiency.”
Diving deeper into the specific solutions, Chaves says: “Pay And Play enables instant play with KYC via the first deposit. This revolutionary approach blends high-speed, security, and error-free processing through advanced open banking and integrated KYC. Additionally, Pix Direct is Brazil’s fastest open banking payment method, ensuring real-time transfers between banks and merchants’ platforms in just 2 clicks, prioritizing speed, security, and cost-efficiency.”
The company’s payment aggregation extends beyond Brazil, covering the entire Latin American region through a single integration, enabling quick market growth with instant pay-ins and payouts. “OKTO empowers operators with efficient online payment processing, fostering growth through advanced payment aggregation blended with cross-border services. The company’s commitment to operational excellence provides an all-in-one solution package with payment aggregation, powering growth for businesses worldwide, offering secure, swift, and seamless global money processing,” Chaves adds.
Innovation is at the core of OKTO’s philosophy, notes Chaves, driving the constant push for possibilities and staying ahead of payment technology and industry trends. The company’s 360º approach involves not only PIX execution but also handling responsible gaming, chargebacks, and dropped transactions.
OKTO provides additional services to Brazilian merchants, including 24/7 local customer support. Acknowledging the unique dynamics and challenges in Brazil, Chaves discusses the success rate and completion times for deposits and withdrawals.
“OKTO consistently strives for an impressive 99.8% success rate for both incoming and outgoing transactions, with solutions tailored specifically for the Brazilian market,” he says. “Additionally, our solutions are tailored specifically for the Brazilian market, ensuring efficient and secure payment technology.”
Talking about the company’s approach to contributing to the promotion of responsible online betting, especially in the context of the legislative developments in Brazil, he states: “Our commitment to promoting responsible online gaming is unwavering and aligns with legislative developments in Brazil. With the legislative approval of sports betting in Brazil, acknowledging the unique dynamics and country-specific challenges in Brazil, we are well-prepared for the regulated betting environment.”
“This readiness involves embracing the latest developments in Brazil, supporting player protection, and welcoming the introduction of direct supervision of payment services by the Central Bank. OKTO is diligently preparing for a seamless transition to the new regulatory landscape,” Chaves affirms. “The primary goal is to ensure uninterrupted business operations and technological continuity for all partners under the new regulations while emphasizing player protection and responsible gaming practices.”
“Our engagement with the Brazilian Institute of Responsible Gaming & Sports Betting further underscores our dedication to fostering a conscious market. Collaborating with the institute, we aim to play a pivotal role in educating players and stakeholders, contributing to the evolution of the betting industry in Brazil,” he says.
Overall, OKTO says its global perspective emphasizes that well-regulated environments not only foster trust but also safeguard the interests of players and the sustainability of the industry. The dedication to player protection and responsible gaming remains steadfast, affirms the providers, contributing to the evolution of the betting industry in Brazil.
The company will be at ICE London on 6-8 February, showcasing its latest payment innovations and advanced paytech tailored for the betting industry at the OKTO booth – S8-210.
