Prominent digital payment method OKTO introduced its revolutionary real-time cash-to-digital closed loop payment service, OKTO.CASH, into the Indian market. This strategic move marks a significant milestone in OKTO’s mission to transform payment experiences for both merchants and consumers globally.
With the introduction of OKTO.CASH in India, online merchants now have the capability to offer cash-to-digital payments at hundreds of thousands of locations across the country, focusing also on small cities. The first e-merchant is already benefiting from this service, with many more expected to follow throughout the year.
OKTO.CASH is now accessible through an extensive network of over 100,000 retail points, thanks to a collaboration with a pan-Indian network. The company plans to extend its reach to more than 500,000 retail points by the end of the year, ensuring wide availability for consumers to complete their closed-loop cash-to-digital OKTO.CASH transactions.
In this sense, OKTO has a locally based dedicated team to support this expansion, ensuring the best possible service and assistance. The development highlights OKTO’s dedication to providing a seamless and efficient payment solution, reinforcing its position as a leader in the digital payment landscape.
Moreover, OKTO.CASH enables online merchants to offer a reliable and instantaneous payment option, meeting the diverse needs of consumers in the rapidly evolving digital economy.
Björn Katerbau, Chief Distribution Officer at OKTO, commented: “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.”