Cash handling specialists GeWeTe have struck a deal with licensed fintech firm OKTO to implement an app-based cashless system, OKTO.WALLET, onto its self-service cash redemption terminals.
Cash handling experts GeWeTe have partnered with OKTO in a deal which will see the licensed fintech firm provide safe and reliable cashless payment services through Cash Redemption Terminals (CRT) internationally.
Utilising the latest in mobile payments and self-service technology, as well as advanced security, OKTO and GeWeTe have sought to redefine the user journey, enabling a safe payment experience and broader cashless payment options for consumers.
“We are pleased to partner up with OKTO to improve cash handling in the gaming area, but also in the retail market,” said Aristidis Tsikouras, CEO of GeWeTe. “The collaboration will enrich the proposition for all our clients, bringing more convenience, safety and security through an advanced cashless payment service.”
Thanks to the new partnership, GeWeTe Cash Systems will expand their functionalities with the addition of OKTO.WALLET solution, enabling GeWeTe’s CRTs to act as virtual cashiers and process cashless transactions. The self-service CRT will further increase operators’ cash handling efficiencies with the inclusion of OKTO’s mobile wallet solution, OKTO.WALLET, which allows users to deposit and withdraw funds at the CRT’s through a mobile app. The fintech provider has designed the wallet app as an intuitive mobile-first experience, transforming user’s mobile into a fully-fledged mobile payment device. Based on QR Code payment technology ensures that the app is accessible by all smartphones without any limitations.
“Cash is increasingly relegated to the edge of the electronic grid, and we are moving from the cash-lite world to the cashless era,” said Simon Dorsen, director of gaming at OKTO. “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.”
GeWeTe’s partnership with OKTO will enable existing and new operators of GeWeTe CRTs to take advantage of end-to-end instant digital transactions within their venues through the seamless integration between the OKTO.WALLET and the GeWeTe CRTs, removing or reducing cash handling across all gaming touchpoints.