Okto targets North America through Flexia Payments acquisition

Okto said the incorporation of the Las Vegas-based fintech business will enhance its cashless and omnichannel payments offering. Flexia’s existing partners include WinSystems, Axes Information Management Systems and CasinoTrac.

The enlarged payments group will work with US retail and gaming venues to develop full digitalisation of customer experience. This will cut across gaming and non-gaming activities.

With offices in five European countries and Brazil, the move for Flexia gives Okto a base in the US market.

“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,” said Theo Engelis, Okto’s vice-president of North America. “This marks a significant enhancement for both companies and aligns with our ongoing cashless strategy in Europe and Latin America.”

Significant resources

Founded in 2019, Okto works across entertainment, leisure and gaming in continental Europe, the UK and Latin America. According to its website, clients include Codere and Kaizen Gaming.

Flexia offers a single digital payment solution, Flexia Prepaid Mastercard, which incorporates casino and online wagering accounts and loyalty programmes.

Craig Libson, chief executive of Flexia, said: “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.”