OKTO introduces OKTO.CASH payment service in India, now accessible through over 100K retail points

Payment solutions provider OKTO has announced the expansion of its 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," the company said.

With the introduction of OKTO.CASH, online merchants now have the capability to offer cash-to-digital payments at thousands of locations across India, focusing also on small cities. The first e-merchant is already benefiting from this service, with many more expected to follow throughout the year, a press release noted.

OKTO.CASH is now accessible through a 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. 

OKTO has a locally based dedicated team to support this expansion, the company said, thus ensuring "the best possible service and assistance."

"This expansion underscores our commitment to delivering superior payment experiences at every transaction and in every region that requires such services," said OKTO’s Chief Distribution Officer, Björn Katerbau. "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 development highlights OKTO’s dedication to providing a seamless and efficient payment solution, reinforcing its position as a leader in the digital payment landscape," says the company. "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."

The company was recently honored with the Award of Innovations in Payment Solutions by EGR Global. It also showcased its payment solutions at the Peru Gaming Show that took place on June 12th and 13th in Lima.