In an exclusive interview with SBC News ahead of ICE Barcelona 2025, Galina Bineva, Commercial Director of OKTO, discusses the company’s journey in 2024 and its impact on the payment solutions landscape. In this candid conversation, Bineva sheds light on the company’s operational successes, key growth areas in Brazil, Latin America, Europe and beyond as well as exciting upcoming developments for 2025.
SBC News: What were some of the main operational and commercial achievements for OKTO during 2024?

Galina Bineva: In 2024, OKTO made significant progress in expanding its global reach and refining its payment solutions. These accomplishments wouldn’t have been possible without the unwavering dedication, passion, and belief in OKTO’s vision from our incredible team. Their hard work and commitment have been the driving force behind each of our milestones.
We introduced OKTO.WALLET in Romania, launched OKTO.DIRECT in the UK, and secured key licenses in Brazil, Argentina, and Switzerland. Additionally, we rolled out OKTO.CASH in several markets, including India, the Czech Republic, Serbia, Germany, launched OKTO BANK in Brazil, payment orchestration in Mexico and Argentina, and UPI services in India
A notable achievement came in December with the successful migration of all Brazilian customer data and funds, in compliance with new regulations. Our efforts throughout the year were recognised with industry awards, including Payment Innovation of the Year and Payment Solution of the Year. By processing 11.4 billion transactions and supporting over 100 merchants in more than 20 countries, we continued to strengthen our position in the payments landscape.
SBC: In the last 12 months or so, Latin America has dominated the conversation for you this year – what progress have you made in the region and how would you assess your position in the market?
GB: Over the past year, Latin America has indeed been a focal point for OKTO, and we’ve made significant strides in the region. We successfully launched OKTO BANK in Brazil, securing critical regulatory approvals, including our PSP License in Argentina, and OKTO’s U4C Authorisation from Paraiba Lottery. These are key accomplishments in positioning ourselves as a trusted player in the Latin American market. Additionally, we expanded the reach of our payment orchestration service with launches in Argentina and Mexico, following a successful launch in Peru, which helped drive our presence across the region. These efforts, alongside the migration of Brazilian customer data and funds in line with new regulations in December, were vital milestones for us.
At OKTO, our approach to the Latin American market is built on a foundation of delivering high-quality services and operational excellence, consistently providing merchants with the optimal experiences we offer globally. We understand that Latin America presents its unique challenges, from diverse legal frameworks and varying degrees of online payment adoption to distinct cultural and demographic differences. To navigate these complexities, our strategy focuses on localisation—providing a broad range of payment methods tailored to meet the region’s specific needs.
As a result, I’m confident that OKTO is building a strong position in the Latin American payments landscape and is on track for continued growth and success in this dynamic region.
SBC: On the product side, OKTO has continued to roll out its suite of solutions. What were the main product developments OKTO made in 2024 and what impact have these developments had on your partners?
GB: OKTO continuously makes significant strides in enhancing and expanding its product offerings, bringing innovative solutions to market that have greatly impacted both partners and users. A transformative development was our decision to acquire Applauz CH GmbH, which allowed us to strengthen our position in Switzerland. This acquisition not only brought Applauz’s prepaid service into our fold but also enabled us to seamlessly transition these services into OKTO.VOUCHER—a product that continues to build strong connections with online merchants while introducing our eVoucher, OKTO.CASH, in the region. Already trusted across Europe, OKTO.CASH gives Swiss merchants and users a frictionless method to bridge the gap between cash and digital payments.
We also further enhanced our Payment Orchestration Platform by adding even more local payment methods, not just for Latin America but also for India, expanding our reach in key growth markets. This development significantly broadens the range of options available to both merchants and users. Additionally, we introduced smart routing to our platform, which automatically optimises payment flows, directing them to the most efficient and cost-effective routes based on real-time data. This ensures that transactions are not only faster but also more reliable and secure, with high acceptance rates.
SBC: All eyes are now on the Brazil market launch. How prepared is OKTO for this new market and how big of an opportunity is this for the industry?
GB: The Brazil market launch is significant, and OKTO has been fully prepared for a long time to capitalise on this pivotal opportunity. With the country’s regulatory transition currently unfolding, we recognise the critical importance of having a comprehensive, 360-degree approach to ensure a smooth transition for all our operator partners into the market. Brazil’s new regulations in igaming represent a key moment for both operators and payment solutions providers. The regulatory shift presents a unique challenge but also a huge opportunity for the industry. By offering payment technology and financial services that facilitate seamless transactions while meeting all regulatory requirements, OKTO has been ready to deliver this solution for over a year.
We have ensured alignment with these regulatory changes by providing robust support to our merchant partners, including guiding them through necessary documentation, licensing processes, and compliance standards. Our solution for transitioning balances from the pre- to post-regulation environment has been crucial, ensuring that partners maintain operational continuity and deliver a seamless user experience. For merchants, the transition into the regulated environment has been smooth, supporting financial planning and customer satisfaction.
Brazil represents an enormous opportunity for the broader iGaming and payments industries. With a rapidly growing market and a newly defined regulatory landscape, the demand for trustworthy and compliant payment services will grow significantly. OKTO’s readiness to launch in Brazil reflects our commitment to the local regulatory framework and the wider industry ecosystem. As we collaborate with local stakeholders, we believe our products will contribute real value and help shape the future of igaming in Brazil. The opportunity is vast, and OKTO is proud to be part of it at this crucial moment.
SBC: With the new regulations in place in Brazil, what measures do you have in place to be compliant whilst remaining a first-choice partner?
GB: We’ve made substantial investments to comply with the new rules and provide the services operators need to succeed in this newly defined market.
Our approach centers around a comprehensive solution set that addresses the unique regulatory requirements, including identifying OKTO accounts as per Annex II, opening OKTO BANK accounts in Brazil, and offering KYC as a Service to ensure proper user identification and data integrity. We’ve successfully completed the data and funds migration for all our customers in Brazil and continue to provide support in areas such as the Transfer Plan, comprehensive management of balances, migration, and payments. For operators not part of the same economic group, we’ve also designed tailored solutions to meet the specific needs of the market.
At OKTO, our focus on a localised philosophy continues to guide our approach. By understanding the nuances of each market, we can offer solutions that are both globally competitive and locally relevant. This philosophy, combined with our continuous product development and cross-team collaboration, enables us to quickly adapt and meet local needs. We are not just a payment solutions provider but a committed partner helping operators navigate regulatory changes, implement cutting-edge innovations, and drive their business goals forward. For Brazil, we have dedicated over 60 team members on the ground to ensure our local efforts align with evolving regulatory demands and support our partners in succeeding in this changing landscape.
SBC: OKTO will be exhibiting at ICE in Barcelona later this month – what can readers expect from the OKTO stand?
GB: OKTO is all set to make a significant impact at ICE in Barcelona, showcasing its advanced suite of payment services. At the OKTO Networking Lounge 4A32, visitors will be immersed in interactive demonstrations of OKTO’s unified payment platform, which aims to revolutionise payment convenience and the overall user experience. One of the standout offerings is OKTO’s payment orchestration service, unveiling its smart routing feature to optimise payment flow for smoother transactions in LatAm and India.
A major highlight is OKTO’s tailored services for Brazil that will be on display. The showcase will also feature OKTO.WALLET and OKTO.CASH, a duo crafted to streamline both deposits and withdrawals for iGaming operators. Finally, OKTO’s innovative approach to retail payments will also be featured through live demonstrations of OKTO.DIRECT, designed to deliver a cashless experience akin to Apple Pay.