In a significant move aimed at bolstering its global footprint, Okto, a prominent digital payment service provider, has unveiled its real-time payment service, Okto.Cash, across India. This expansion marks Okto’s latest endeavor to tap into India’s burgeoning digital payment market, leveraging a network of 100,000 retail outlets nationwide. The service is set to cater initially to smaller cities, with plans to rapidly scale operations to an additional 400,000 retail points in the near future.
Strategic Expansion: Okto’s Move to Capture India’s Digital Payment Market
Okto’s strategic initiative aligns with its commitment to enhancing payment experiences and accessibility for online merchants in emerging markets. Björn Katerbau, Okto’s Chief Distribution Officer, emphasized the company’s dedication to delivering superior payment solutions: “This expansion underscores our commitment to delivering superior payment experiences at every transaction and in every region that requires such services. We are dedicated to empowering online merchants with enhanced payment service offerings, aligning with our strategy of being a last-mile expert and helping online merchants acquire new consumers.”
The move follows Okto’s recent global expansions, including acquisitions and partnerships that have strengthened its presence in North America, Italy, Greece, and now India. Last year, Okto acquired Flexia Payments to bolster its operations in North America, while earlier this year, collaborations with Macao Win and Betsson facilitated the introduction of new payment systems in Italy and Greece, respectively.
This latest initiative in India underscores Okto’s strategic focus on emerging markets, echoing similar recent expansions by competitors like Fun88, which partnered with Evolution to broaden its offerings in the region, including online casinos. With India poised as a key growth area for digital payments, Okto’s rollout of Okto.Cash positions it strategically to capitalize on the increasing demand for reliable and efficient payment solutions.
As Okto continues to expand its global footprint, its efforts in India represent a pivotal step towards solidifying its position as a leading player in the international digital payment landscape.
