Okto, a leading fintech company, has announced a strategic partnership with Interwetten, one of the most established iGaming operators, to introduce the Okto.Cash solution in Germany. This collaboration marks a significant step forward in payment innovation for the German iGaming sector, where cash continues to be a widely preferred payment method for players. The Okto.Cash solution will allow users to convert physical cash into digital funds, providing greater convenience and flexibility for Interwetten customers.

Okto Partners with Interwetten to Introduce Okto.Cash in Germany

Innovative Payment Solution for German iGaming Customers

The launch of Okto.Cash addresses the ongoing demand in the German iGaming market, where cash remains a highly popular payment method despite the growth of digital payment solutions. Okto.Cash allows users to fund their Interwetten accounts by depositing cash at over 14,000 retail locations throughout Germany. These include well-known chains such as Avia, Esso, Lotto, OMV, Q1, Shell, Tamoil, and Westfalen, making the solution easily accessible for customers across the country.

The system has been designed to provide a secure, fast, and simple method for players to deposit funds into their iGaming accounts without the need for credit or debit cards. This not only makes it easier for users who prefer cash-based transactions but also expands the potential user base for Interwetten by catering to a wider audience with diverse payment preferences.

Benefits of Okto.Cash for Interwetten Users

Okto.Cash brings a range of benefits to Interwetten customers. First and foremost, it adds an extra layer of convenience for users who can deposit money into their accounts at retail locations they are already familiar with. As René Hartl, Interwetten’s Head of Payment Operations, pointed out, “With Okto.Cash, our players can easily deposit cash into their Interwetten accounts from familiar locations, giving them unprecedented convenience and flexibility.”

The seamless nature of Okto.Cash means that players do not need to deal with the complexities of online banking, credit cards, or e-wallets. Instead, they can simply visit a nearby participating retail outlet and top up their accounts. This ensures that even players who are less comfortable with digital financial services or those who prefer physical cash transactions can still enjoy a smooth and secure online gaming experience.

Moreover, the security aspect of Okto.Cash cannot be understated. By allowing users to make cash deposits without the need to input sensitive financial information online, the solution helps to mitigate the risks associated with cybercrime and fraud, ensuring peace of mind for both players and the iGaming operator.

Cash as a Preferred Payment Method in Germany

While digital and cashless payments are on the rise globally, Germany remains one of the few markets where cash is still a dominant method of payment. Studies have shown that a large proportion of Germans continue to use cash regularly for various transactions, including online gaming. This unique market characteristic is one of the key reasons why Okto.Cash is such a valuable addition to Interwetten’s payment offerings.

Okto’s partnership with Interwetten is part of a larger trend where businesses are adapting their payment solutions to meet the specific preferences of local markets. By embracing a cash-to-digital payment solution, Interwetten ensures that it remains competitive in Germany’s iGaming market, catering to players who prefer physical cash while also aligning with broader digitalization efforts in the sector.

How Okto.Cash Works: A Simple and Secure Process

The process of using Okto.Cash is straightforward. Players first log into their Interwetten accounts and select Okto.Cash as the preferred payment option. They are then provided with a unique barcode that can be scanned at any of the 14,000 participating retail locations. Once the cash is deposited, the funds are instantly credited to the player’s online account, ready for use in Interwetten’s wide range of gaming options.

The system is designed to be highly intuitive, ensuring that even first-time users can navigate the process with ease. Okto.Cash combines the best aspects of cash transactions and digital convenience, making it a win-win for both players and operators alike. Additionally, the use of barcodes and real-time processing ensures that transactions are both fast and secure, with minimal waiting times for the player.

Expanding Okto’s Reach Across Germany

For Okto, this partnership is part of a broader strategy to expand its footprint in the German market and beyond. As Mikhail Ovsepyan, Okto’s Head of Germany, noted: “This partnership underscores our dedication to expanding across the region and beyond, while delivering cutting-edge payment solutions that meet the needs of iGaming fans.”

Germany is a key market for iGaming, and the introduction of Okto.Cash serves as a vital component of Okto’s long-term growth plan. By collaborating with Interwetten, Okto is tapping into a well-established operator with a loyal customer base, giving the fintech company a strong foothold in the country.

Moreover, as more iGaming operators adopt cash-to-digital payment solutions like Okto.Cash, the demand for such services is expected to grow. Okto’s innovative approach ensures that it remains at the forefront of this trend, providing secure, efficient, and user-friendly payment methods that appeal to a wide demographic of players.

Future Prospects for Okto and Interwetten

This partnership between Okto and Interwetten not only enhances the gaming experience for current users but also sets the stage for future growth. As the iGaming industry continues to evolve, payment solutions that prioritize flexibility and accessibility will become increasingly important. Okto.Cash addresses both of these needs by offering a cash-based payment option that is integrated with cutting-edge digital technology.

Furthermore, the success of this partnership could lead to the adoption of similar solutions in other markets where cash is still widely used. By offering a versatile and secure payment option, Okto and Interwetten are positioning themselves as leaders in both the German market and the broader European iGaming industry.

FAQs About Okto Partners with Interwetten to Introduce Okto.Cash in Germany

1. What is Okto.Cash?

Okto.Cash is a cash-to-digital payment solution that allows users to deposit cash at physical retail locations and convert it into digital funds for use in online platforms such as iGaming. It provides a convenient and secure method for players who prefer cash-based transactions.

2. Which company has Okto partnered with for Okto.Cash in Germany?

Okto has partnered with Interwetten, one of the leading iGaming operators, to introduce the Okto.Cash payment solution in Germany.

3. How can Interwetten users benefit from Okto.Cash?

Interwetten users can fund their gaming accounts by depositing cash at over 14,000 participating retail locations in Germany, including well-known chains such as Avia, Esso, Lotto, OMV, Q1, Shell, Tamoil, and Westfalen. This offers convenience and flexibility for players who prefer using cash.

4. How does Okto.Cash work?

Users select Okto.Cash as a payment option on their Interwetten account, receive a unique barcode, and then visit a participating retail location. After depositing cash at the location, the funds are instantly credited to their gaming account.

5. Why is cash still a preferred payment method in Germany?

Despite the global rise in digital payments, cash remains a popular method of payment in Germany. Many German users continue to favor physical cash transactions, and Okto.Cash addresses this preference by providing a secure way to convert cash into digital funds for online use.

6. What are the benefits of using Okto.Cash?

Okto.Cash offers convenience for cash-preferring players, eliminates the need to use bank accounts or credit cards for online gaming deposits, and ensures secure, real-time processing of transactions.

7. How does Okto.Cash ensure security for users?

Okto.Cash minimizes the risk of cybercrime and fraud by allowing users to deposit cash without sharing sensitive banking information online. The use of a unique barcode for each transaction ensures an added layer of security.

8. What is the significance of the partnership between Okto and Interwetten?

The partnership allows both companies to enhance their offerings in the German iGaming market. Okto expands its reach by providing innovative payment solutions, while Interwetten benefits from offering a cash-based option to a larger user base.

9. What impact will this partnership have on the iGaming industry in Germany?

This collaboration is expected to boost the convenience and accessibility of iGaming in Germany, catering to players who prefer cash transactions. It also positions Okto and Interwetten as leaders in adapting to local market preferences.

10. What is Okto’s vision for the future with Okto.Cash?

Okto aims to expand its presence across Germany and other markets by delivering cutting-edge, flexible, and secure payment solutions. The success of Okto.Cash in Germany could lead to its adoption in other regions where cash is still widely used.

11. Where can users deposit cash using Okto.Cash?

Users can deposit cash at more than 14,000 participating retail locations across Germany, including Avia, Esso, Lotto, OMV, Q1, Shell, Tamoil, and Westfalen.

12. How does this partnership benefit the iGaming community?

The introduction of Okto.Cash offers players more payment options, especially for those who prefer cash, while also ensuring security and convenience in their transactions. It makes the gaming experience smoother and more accessible to a broader audience.