GMB – You have a lot of news for the Brazilian market. What are these releases in the area of payment methods?
Leonardo Montenegro Chaves – We focused a lot on usability and user experience. Much more than offering a safe and easy-to-integrate transaction for our customers, we also have to think about their customers, the players. The easier we make it to use at the time of payment, we are contributing to a better Merchant conversion. So we have some interesting solutions.
One of them is Pay & Play, which is a solution in which we handle the entire KYC process for the partner for the customer. Instead of the operator having to offer the entire onboarding process by asking us for all the documentation for KYC analysis, through a button the customer provides the basic information (CPF) and with the payment we are able to enrich all the information and deliver it to the merchant a chewed solution, validating the player for it.
What else?
Another very interesting solution is payment initiation, taking advantage of open finance technology in Brazil. We minimize the number of steps the customer needs to take to pay. Today, the copy+paste flow or the reading of a QR Code in which the customer has to open the bank application to carry out the transaction is very common.
With payment initiation, when he arrives at checkout to make the payment, he chooses his bank and a screen opens for him to confirm the transaction. With this, there is a reduction of 7 to 8 steps to just three. It is a lighter experience for the player to continue the payment process. And if it's a customer we already know, it even skips the step of choosing which bank to use.
In other words, more and more tools for the operator to have at their disposal, which join OKTO.CASH and OKTO.WALLET?
Exactly. It is a tool for the operator to take to their customers so that they have a simpler experience and obviously with a sense of security, which is very important when talking about payment processes. Whenever we talk about payments, we have to talk about security and for that we use the best technologies and compliance processes to guarantee the tranquility of knowing that player, secure information and lightness in the payment process.
Has this been well accepted by operators in Latin America and especially in Brazil, where the payment system in the country is quite complex and full of rules?
It really is quite complex, but technology has made it easier and easier. Our interest is to make this whole process easier. There is concern with security and compliance, but bringing through technology, in the user's view, the understanding that it is a pain for the player and we are here to make everything simple and easy.
Brazil is going through the process of regulating the sector and obviously payment methods will be in focus. Are you prepared for whatever is required?
For sure. There is still a lot of speculation and numerous discussions, but we are already getting ahead of ourselves. We are in Brazil thinking about the long term and we work thinking about a solid structure and following all regulations, whatever they may be, both with the Central Bank of Brazil.
So operators are confident in contracting with OKTO to offer the best tools to their customers?
Sure. Be it today, while they are not in Brazil, offering the best local structure so that they have the best solution and support as a financial advisor and not just in financial transactions; and in the future, when they settle in the country, so that they can be sure that is working with a regulated institution that follows all local parameters.
Source: Exclusive GMB
