According to the official press release, Pix, the instant payment system overseen by the Central Bank of Brazil, has significantly impacted digital transactions, with over 170 million users and widespread adoption among the adult population.
The updated regulations require all betting-related payments to be processed through bank accounts registered in the name of individual bettors, a requirement that Transfeera’s solution is designed to facilitate.
As a direct Pix participant and a regulated Payment Institution, Transfeera automates compliance procedures for betting platforms. Its system enables real-time validation of CPF (Cadastro de Pessoas Físicas) and bank account details, along with centavo deposit verification to confirm account activity and authenticity. These features help streamline the onboarding process and reduce the risk of erroneous or fraudulent transactions.
Transfeera also provides infrastructure to support betting operators in managing multiple registered accounts, aligning with the regulatory requirement for separate Operational and Proprietary Accounts. Treasury management tools, including real-time balance tracking, automated reconciliation, and secure transaction processing, aim to assist operators in overseeing financial operations more effectively.
Officials from Transfeera stated that the company’s status as a regulated Payment Institution with direct Pix integration allows it to process large volumes of transactions while ensuring compliance. They emphasised that the enhanced solution helps operators navigate regulatory complexities and improve financial management efficiency.
In turn, officials from PayRetailers highlighted the growing sports betting industry in Brazil and the increasing compliance demands operators must meet. They noted that integrating Transfeera’s Pix capabilities allows for automated validation and verification processes, reducing the need for manual oversight while maintaining compliance and a smooth user experience.
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