PayRetailers, a leading payment solutions company in Latin America and Africa, launches an enhanced Pix payment solution to assist betting operators in Brazil as they prepare for the new sports betting regulations that will come into effect from January 1, 2025.
Pix, the instant payment system developed by the Central Bank of Brazil, has changed the way financial transactions are conducted in the country. With over 170 million users and 90% adoption among the adult population, Pix is now an integral part of the payment process for businesses across various sectors of the economy.
PayRetailers' new Pix solution is tailor-made to meet the standards of the Brazilian betting market, ensuring that betting operators comply with the demands of the new regulation, which requires payments to be processed only through accounts previously registered by bettors.
The regulation establishes strict criteria, requiring that all payment transactions in sports betting operations be verified through the bank details of registered bettors.
PayRetailers automates this process, maintaining the speed and convenience for which Pix is known, and allowing betting operators to comply with the regulation in an agile and integrated manner with their payment flows.
The enhanced solution offers real-time account validation, ensuring that each transaction meets regulatory requirements without the need for any manual intervention. It supports multiple accounts registered by bettors, optimizing and maintaining the compliance of the operation.
Additionally, PayRetailers' new payment method includes advanced financial management tools, such as real-time balance monitoring and automated bank reconciliation, allowing operators to manage their transactions more efficiently.
PayRetailers has developed its Pix infrastructure, which processes millions of transactions monthly, to offer a solution that ensures scalability and security.
The new features include intelligent processing for payment acceleration, real-time CPF and bank account validation, and automated handling of transactions not in compliance with legal requirements. With these functions, betting operators can focus on growing their businesses, meeting regulatory demands safely.
Given the widespread adoption of Pix throughout Brazil, PayRetailers expects the solution to play a key role in supporting betting operators as they prepare for the final adaptation deadline. The solution is available for immediate integration, providing operators with the necessary tools to ensure a smooth transition to the new regulatory environment.
For Juan Pablo Jutgla, CEO of PayRetailers, the sports betting industry in Brazil is about to experience significant growth, but operators will face increasing pressures to comply with the new legislation.
“Our Pix solution helps operators find the ideal balance between ensuring legal compliance and maintaining excellence in user experience. By automating identity validation processes, we eliminate the need for manual intervention and allow betting houses to focus on innovation and growth. It's not just about meeting regulatory requirements, but setting a new standard for the industry, where law compliance and user experience go hand in hand,” he states.
Daniel Niezgoda, technology director of PayRetailers, adds: “As Pix becomes a central instrument in Brazil's financial system, the need for an agile and automated payment method has never been greater. Our solution offers intelligent processing and real-time account validation, optimizing operations and reducing risks efficiently.”
“Designed to be scalable and easy to integrate, it empowers betting operators to navigate regulatory challenges with ease, while optimizing their processes for business growth.”
Founded in 2017, PayRetailers is a global leader in payment processing in Latin America and Africa. In Brazil, it is authorized to act as a payment institution by the Central Bank.
The company's mission is to offer complete solutions for e-commerce, covering the entire process of international transactions. Through a single API, an advanced technological platform, and commercial agreements, PayRetailers enables access to more than 300 local payment methods.
Its own technological architecture is highly flexible and scalable, allowing for rapid innovation to meet the demands of constantly evolving markets.
Headquartered in Spain, in Barcelona and Madrid, the PayRetailers Group also has offices in Argentina, Chile, Costa Rica, Brazil, Colombia, Mexico, Peru, Bulgaria, and the Isle of Man.
Source: GMB
