Brazil is set to launch one of the world’s biggest betting markets in just one month’s time, with a large onus placed on the Pix payments service to facilitate transactions.
Ahead of the launch various prospective stakeholders are preparing by integrating with the e-payments service, one of the most widely used payments systems in the world.
PayRetailers, a Latin America and Africa-focused payments provider, announced today (3 December) that it has launched an ‘enhanced Pix payment solution’ targeted at betting operators in Brazil.
PayRetailers expects its solution to play a significant role in the Brazilian betting landscape. The firm may have its work cut out, with a range of stakeholders including payments providers looking to get in on the market when it launches next month, but PayRetailers leadership are very confident of the company’s prospects.
Juan Pablo Jutgla, CEO at PayRetailers, said: “The sports betting industry in Brazil is poised for significant growth, but operators will face increasing pressure to comply with the new regulations. Our enhanced Pix solution helps operators strike the right balance between ensuring compliance while maintaining an optimal user experience.
“By automating the validation and verification processes, we eliminate the need for manual intervention, allowing betting operators to focus on innovation and growth. This is not just about meeting regulatory requirements — it’s about setting a new standard for the industry, where compliance and customer experience go hand in hand.”
The firm is confident that its solution will stand out from the competition by providing real-time account validation, supporting multiple registered accounts for bettors, streamlining the payments process and offering ‘advanced treasury management tools’ like real-time balance monitoring and automated reconciliation.
As noted above, a huge onus will be placed on Pix as a core component of Brazil’s forthcoming gaming market. Regulations approved earlier this year have placed strict restrictions on payments.
Notably, operators will not be able to accept payments via cash, bank slips, cheques or cryptocurrencies. This has made Pix, already the country’s most widely utilised payments method, central to how the market will function.
Launched by the Central Bank of Brazil just four years ago, Pix has emerged as one of global payments’ biggest success stories. The system now has over 170 million users, accounting for 90% of Brazil’s adult population, and its success has been noted by other countries with even some in Europe now utilising it.
Daniel Niezgoda, CTO at PayRetailers, added: “As Pix becomes central to Brazil’s financial system, the need for seamless payment processing paired with compliance automation has never been greater.
“Our enhanced Pix solution offers real-time account validation and intelligent routing, streamlining operations while reducing risks and ensuring efficiency. Designed to be scalable and easy to integrate, it empowers betting operators to navigate regulatory challenges effortlessly while optimizing their processes for growth.”
