OKTO‘s country manager for Brazil, Leonardo Montenegro Chaves, discussed the payment solutions company’s platform in Brazil and highlighted, that it currently processes more than BRL 2.5 billion per month, an amount that exceeds $490 million.
In an interview, the executive stated that “OKTO’s platform in Brazil is at the forefront of technology, processing more than BRL 2.5 billion per month, with a success rate of over 99% for Pix In and Pix Out“, a performance that reflects the “reliability and efficiency in handling large-volume financial transactions.”
“Our comprehensive corporate finance solution is designed to address all the banking needs that operators may demand when establishing their presence in Brazil. This includes investment advisory services and tax efficiency, positioning OKTO as a comprehensive financial partner,” he told SBC News.
Along these lines, Montenegro Chaves said that with offerings such as Pay and Play and Pix Direct, OKTO seeks to ‘simplify user onboarding and streamline transactions’.
“Our Pay and Play solution is designed to simplify the user onboarding and KYC process by integrating payment initiation with instant user verification. This innovation enhances the user experience, making it easier for players to start playing without the cumbersome and traditional verification processes,” he detailed.
He further stated that “Pix Direct addresses the specific needs of the Brazilian market by simplifying the Pix payment process,” and that it “minimizes the steps required for a transaction, aligning with the local preference for fast and efficient payment methods.”
“Along these lines, our KYC-as-a-Service stands out as a unique offering, allowing customers to leverage OKTO’s infrastructure through a single integration. This service provides access to the necessary KYC services, easing the integration effort and offering cost benefits due to OKTO’s scale,” he explained.
The executive hailed the fact that the Brazilian gaming market is “on the verge of full regulation, which presents a great opportunity for many technology providers, whether for gaming, payments or others”.
“As the gaming industry prepares for legalization, companies will need more than just transaction processing – they will need end-to-end financial solutions, robust banking solutions, financial advice, and strategic tax efficiency planning,” he detailed.
“OKTO is prepared to fill this gap, leveraging our experience gained in regulated markets in Europe and other Latin American regions to tailor services to Brazil’s gaming sector,” Montenegro Chaves concluded.
