The process, which had begun in October 2023 with the purchase of part of U4C, was fully completed this Tuesday (7) when the Central Bank authorized the full purchase of the company. The authorization from the BC in this case is necessary precisely because it is a company authorized by the bank to operate directly through Pix and also through the ITP - Payment Transaction Initiator - attributes fully assumed by OKTO.
“Looking at our market, this is super strategic and necessary for our customers. Our operations are very focused on the betting market and, according to the rules of this segment, only authorized institutions can provide services to bookmakers. Now, as an authorized institution, we have a direct connection with the Central Bank,” comments Rafael Edelmann, OKTO’s GRC Brazil Director.
“We process information directly with the BC, which gives us great efficiency and flexibility in offering services to our customers, allowing us to offer solutions that are more suited to each one’s needs, unlike an institution that operates indirectly, which is always dependent on another institution.”
With U4C under its command, OKTO strengthens its ability to offer robust and innovative financial solutions, aligned with the Central Bank’s regulations. U4C is a pioneer in payment technology and already operates as a Payment Transaction Initiator (ITP), which expands the possibilities of financial services that can be offered to customers.
“This acquisition allows us to operate broadly and securely in payment processing, serving not only the sports betting market, but also companies from various sectors that seek efficient and regulated solutions. Furthermore, we are ready to expand our services and offer more complete financial solutions, reinforcing our new positioning as Okto Bank," says Leonardo Chaves, CEO Brazil at OKTO.
Recently, OKTO was recognized with the 'Reclame Aqui' Award - the most important service and reputation award in Brazil - in the online payments category, demonstrating its commitment and excellence in service.
OKTO is a direct participant of Pix and ITP, offering digital payment solutions for online companies and retailers worldwide. It maintains a unified payment platform that processes transactions securely in digital and physical environments, creating immersive payment experiences for both merchants and consumers.
With a team of more than 200 technology experts, it orchestrates digital payment solutions in the Americas, Europe and Asia through a combination of local expertise, industry knowledge and international capabilities. OKTO offers an integrated omnichannel approach and support for customers in diverse regulatory scenarios, ensuring low friction and high protection.
Source: GMB
