Fintech company Okto has entered into a partnership agreement with Gauselmann subsidiary GeWeTe to provide cashless payment services through cash redemption terminals internationally.
Under this partnership, GeWeTe will expand its functionalities with the addition of the Okto.Wallet solution, enabling the company to act as virtual cashiers and process cashless transactions between. With GeWeTe’s manufacturing expertise and knowledge of secure systems, the self-service CRT aims to further increase operators’ cash handling efficiencies.
The Okto.Wallet app can be used at GeWeTe’s CRT to digitally deposit and withdraw funds in gaming or betting locations.
Simon Dorsen, director of gaming at Okto, said: “Our partnership with GeWeTe is fully aligned with our mission to deliver a truly end-to-end cashless solution across the entire retail gaming ecosystem.
"Cash is increasingly relegated to the edge of the electronic grid and we are moving from the cash-lite world to the cashless era. We are evolving from advancements like TiTO, that brought great efficiencies and less cash handling in venue for operators, to a complete cashless ecosystem with the Okto.Wallet that meets the scan-and-go users’ demand while meeting the gaming operators’ quest for cashless solutions.”
