“OKTO is regulated by the Central Bank of Brazil and is ready to comply with future iGaming regulations.”

GMB – Is OKTO, which has a range of products for the iGaming sector, particularly in the area of ​​payment methods and user identification and validation, saying goodbye to London and heading to Barcelona next year?
Leonardo Chaves
– Exactly, now we’re going to Barcelona. Well, I think we’re missed here. OKTO, as a European company that has been participating in ICE for a long time, has achieved great success here. But let’s move on. We will also focus on Brazil, a very strong market where we are well established and have many projects planned for the future.

Since you are well established in Brazil, did you receive many visitors interested in Brazil at your stand?
Everyone here at the event talked a lot about Brazil being the sleeping giant. It’s the next big thing. Many people are now looking to Brazil as the regulatory movement has begun. Therefore, many people are asking about the next steps, not only for the betting industry, but also for payment providers like us, where we have a lot of responsibility for the entire payment flow process for merchants, the operators there.

So tell us for those who are watching us. What are the next steps from a payment perspective?
Well, OKTO is already a regulated company here in Europe. In some countries in Europe we have licenses and in Brazil it couldn’t be different. Today we are a company that is already regulated by the Central Bank and meets all the requirements required by the Central Bank. So when people say that “regulation is coming”, it actually affects the betting market and not us as a payment provider.

We are already regulated and already follow all the guidelines of a regulated company, but we are regulated by a different body, namely the Central Bank. So what we are doing and preparing for is to meet all the requirements to meet the betting regulation as a specialized payment provider in this segment and already have experience here in Europe that we bring to Brazil but have already adapted to the country .

To give you an idea, we have a structured team of over 50 people in Brazil that focuses not only on the payment part, but on everything related to the merchant’s payment needs. So when it comes to KYC, we offer KYC as a service so that they have an integration option with a single provider that gives them everything they need with analysis, service, local support and knowledge to take away the merchant’s pain To avoid the customers in the region have to know payment industry.

Those who make payments for a low risk are currently used to make deposits. Our market has the peculiarity of withdrawal, and here the fraudster can do something lively. Knowing how to handle withdrawals and avoid fraud represents not only a financial risk from the operator’s perspective, but also operational costs and a reputational issue that can have an impact.

This allows specialized companies in this segment to provide this good service and, by collaborating with the operator, minimize these operating costs to enable a better reputation as well as a better conversion rate for their users through OKTO and its tools.

Is this the case with OKTO and its tools?
That’s it. We are 100% prepared and are closely monitoring developments because despite the upcoming regulation, the Ministry of Finance will make some changes. That’s why we pay attention to the future so that we can be ready for our customers as quickly as possible.

Follow, but with serenity, knowing that it will be easy to stick to it?
Surely. We have our experience from operating in Europe, we focus on this market and we bring that experience to Brazil. We are already operating in Brazil, with a very well-structured team, regulated by the Central Bank, 100% ready to serve and go above and beyond and really help with a vision that goes beyond pay. In terms of compliance, banking and all the infrastructure that operators will need post regulation in the country.

Source: GMB Exclusive

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