Okto announced that it will incorporate a fintech business based in Las Vegas to enhance its cashless and omnichannel payments offering. Flexia, the fintech business, already has partnerships with WinSystems, Axes Information Management Systems, and CasinoTrac. The enlarged payments group will collaborate with retail and gaming venues in the US to develop a fully digitalized customer experience. This digitalization strategy will cover both gaming and non-gaming activities. With offices in five European countries and Brazil, the acquisition of Flexia provides Okto with a presence in the US market.
Theo Engelis, Okto’s vice-president of North America, stated that this acquisition aims to position Okto as a leading provider of digital payment services specifically in the North American land-based and online gaming markets through its omnichannel offering. He emphasized that this move significantly enhances both companies and aligns with Okto’s ongoing cashless strategy in Europe and Latin America.
Established in 2019, Okto operates in entertainment, leisure, and gaming across continental Europe, the UK, and Latin America. The company’s website lists Codere and Kaizen Gaming as its clients. On the other hand, Flexia offers a single digital payment solution called Flexia Prepaid Mastercard, which integrates casino and online wagering accounts as well as loyalty programs. Craig Libson, the CEO of Flexia, expressed that the partnership with Okto grants them access to substantial resources and capabilities, thus accelerating the deployment of advanced cashless and omnichannel payment services to the continuously expanding gaming market.
Libson also highlighted the synergies between the two companies, their industry-leading platform and pipeline, and Okto’s powerful payment technology and existing business line. He believes that these factors form a solid foundation for success not only in the North American market but also in other markets.
