OKTO, a multinational specializing in digital financial transactions for the sports betting market, has taken corporate control of U4C, a payment institution authorized by the Central Bank and a direct participant in Pix and Open Finance. This acquisition represents a significant strategic step for the company, allowing it to expand its operations in Brazil and consolidate its position as a potential player in the iGaming sector.
The process, which began in October 2023 with the purchase of part of U4C, was fully realized this Tuesday (7) when the Central Bank authorized the total purchase of the company. The BC's approval in this case is necessary precisely because it is a company authorized by the bank to operate directly through Pix and also through ITP - Payment Transaction Initiator - attributes fully assumed by OKTO.
“Looking at our market, this is super strategic and necessary for our clients. Our operation is very focused on the betting market and by the rules of this segment only authorized institutions can provide services to betting houses. Now, as an authorized institution, we have direct connection with the Central Bank”, comments Rafael Edelmann, GRC Director Brazil at OKTO.
“We process the information directly with the BC which gives us a lot of efficiency and flexibility in offering services to clients, being able to offer solutions more suited to the needs of each one, unlike an institution that operates indirectly, which is always dependent on another institution”.
With U4C under its command, OKTO strengthens its ability to offer robust and innovative financial solutions, aligned with the norms of the Central Bank. U4C is a pioneer in payment technology and already operates as a Payment Transaction Initiator (ITP), which expands the possibilities of financial services that can be offered to clients.
“This acquisition allows us to operate broadly and securely in payment processing, serving not only the sports betting market but also companies from various sectors seeking efficient and regulated solutions. Moreover, we are ready to expand our services and offer more complete financial solutions, reinforcing our new positioning as Okto Bank”, states Leonardo Chaves, CEO Brazil at OKTO.
Recently, OKTO was recognized with the Reclame Aqui Award - the most important customer service and reputation award in Brazil -, in the online payments category, demonstrating its commitment and excellence in service.
OKTO is a direct participant in Pix and ITP, offers digital payment solutions for online companies and retailers around the world. It maintains a unified payment platform that processes transactions securely in both digital and physical mediums, creating immersive payment experiences for both merchants and consumers.
With a team of over 200 technology experts, it orchestrates digital payment solutions in the Americas, Europe, and Asia through a combination of local expertise, industry knowledge, and international capabilities. OKTO offers an integrated omnichannel approach in addition to supporting clients from various regulatory scenarios, ensuring low friction and high protection.
Source: GMB
