Date: 25.10.2023

by Mateusz Mazur

Last update: 25.11.2023 10:44

OKTO Acquires Flexia Payments

In a recent strategic move, OKTO has announced its acquisition of the US-based fintech firm, Flexia Payments.

This acquisition is aimed at propelling OKTO’s growth in North American gaming markets, underscoring its commitment to enhancing cashless and comprehensive payment solutions.

Seamless Collaboration After a Noteworthy Show

Flexia Payments, after an impressive presentation at the Global Gaming Expo (G2E) showcasing its pioneering cashless system, is now merging its strengths with OKTO. With partners like WinSystems and CasinoTrac under Flexia’s belt, the collaboration will work towards optimizing the cashless and omnichannel payment offerings across North American gaming venues. This partnership will be pivotal in introducing a holistic digital experience for both gaming and non-gaming segments.

Flexia’s unique selling proposition lies in its capability to consolidate casino accounts, online wagering, and loyalty programs, all anchored to a Flexia Prepaid Mastercard®. This facilitates a unified digital payment solution.

Industry Experts Weigh In

Theo Engelis, VP North America of OKTO, expressed enthusiasm about the merger. He stated “This acquisition aims to place OKTO at the forefront of digital payment services provision in the North American land-based and online gaming markets via its omnichannel offering. We’re excited about this partnership, which marks a significant enhancement for both companies, and aligns with our ongoing cashless strategy in Europe and Latin America.”

Craig Libson, CEO & Co-founder of Flexia, mirrored this sentiment, stating “Our partnership with OKTO grants us access to significant resources and capabilities, accelerating the deployment of advanced cashless and omnichannel payment services to the ever-expanding gaming market. The synergies between the two companies, our industry best platform and pipeline, blended with OKTO’s powerful payment technology and existing business line combine to form the foundation for success in the North American market and beyond.”

Adding to this, Scott Walker, President & Co-founder of Flexia, mentioned how this alliance aligns perfectly with Flexia’s goals, stating “Our alignment with OKTO enables us to complete our mission to drive digital payment innovation in the world of online and land-based casino gaming, and in particular allows us to put our plans into action in North America.”

Our Comment on the Article

The acquisition of Flexia Payments by OKTO is a testament to the changing landscape of the gaming industry, where digitization and cashless transactions are becoming paramount.

The synergies between the two companies not only promise to enhance the user experience but also signal the advent of a more streamlined and digital-centric future for casinos and gaming venues across North America. This merger could set a new benchmark for integrated payment solutions in the industry.

 

 

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