GMB – What is your assessment of ICE London, especially now that the Brazilian unit of OKTO is already in operation?
Leonardo Chaves – It is a great opportunity for us to be present at the most important fair in the segment. OKTO has participated in the event for a few years, but for us as Brazil and the company operating in the country for just over a year with a local presence, it is important to show the market this positioning of Brazil and Latin America by OKTO.
Payment method is one of the backbones of iGaming. Is OKTO already fully integrated with Brazilian operators? Is there anything to be done in your system or is everything ready to be rolled out to each of the customers that come to you?
We are already fully integrated. We have been running in Brazil for over a year with important clients and the main ones in the market in terms of volumetry in the country. So, right now, it's about having a local presence and support, with language, to give comfort to our customers in this position of who is managing from Brazil. The structure, in terms of solution and regulation, we are already 100%.
Location is very important, especially due to the peculiarities of Brazil, which has so many alternatives for financial transactions, such as boleto and PIX. Btw PIX is something unique in the world!
It's a unique product in the world especially in terms of penetration and the way PIX has grown and its usability. It is a great case of the Central Bank. The digitization of payment helps us a lot in the market in which we operate. But I take the opportunity to say that there are still many people who receive real money. Thus, we have a solution, OKTO.Cash, for all those who do not have access to digital banking. They can, in a convenience store or supermarket, generate credits from paper money.
Is it a solution developed by OKTO?
Yes. It is a great success story for OKTO in Europe. In some countries, it is one of the products with the greatest usability and penetration. We are sure that in Brazil it will not be different due to the profile of the Brazilian public and the low level of bank access. With this, we give accessibility to this audience.
Did you receive many operators interested in Brazil and those who are already partners with OKTO?
Brazil is the ball of the moment. Everyone is looking and those who are not in it are at least paying close attention to this market. It is huge and with many opportunities. Today, the Brazilian public is digitized, even though access to the bank is not yet consolidated. But for the use of technology and access to the smartphone, it is a very digitized public with a lot of interest. And OKTO is ready for it.
Being ready for this, what are OKTO's plans for 2023 and what is the expectation regarding the regulation of sports betting?
We want to expand our participation in the Brazilian market, increasing the range of solutions to handle payments as well as customer support. There is a need for operators and platforms regarding tropicalization. The market is very particular, from language to rules and regulations. About the regulation itself, we know that it is not fast and we will have to start the whole process. There is great expectation from eveyone, but I think it is very good for the country if the regulations come out, so that we can know what the rules of the game are and work in a very well structured way. We are very concerned with compliance issues and nothing better than agreeing with clear regulations to be followed.
Source: Exclusive GMB
