This launch comes as the country prepares for new sports betting regulations, which will take effect on 1 January 2025.
Pix, Brazil's instant payment system developed by the Central Bank, is widely used by 90% of the adult population, making it a cornerstone of financial transactions in the country. PayRetailers’ enhanced solution addresses regulatory requirements mandating that sports betting payments be processed through bank accounts registered to individual players.
The updated solution automates compliance processes, including real-time validation of player-registered bank accounts and CPF (Cadastro de Pessoas Físicas) numbers, eliminating the need for manual verification. It also supports multiple registered accounts per bettor, enabling seamless and compliant transactions. Additionally, the platform integrates advanced treasury management tools, such as automated reconciliation and real-time balance monitoring, to improve operational efficiency.
PayRetailers has built on its existing Pix infrastructure, which handles millions of transactions monthly, to deliver a scalable and secure solution. The enhancements include intelligent routing to accelerate payment processing and automated handling of non-compliant transactions. Betting operators can integrate the solution immediately, ensuring a smooth transition to the regulatory requirements set for January 2025.
With the Brazilian sports betting market expected to grow significantly, this development positions PayRetailers as a vital partner for operators navigating new compliance demands. The company’s solution balances the need for regulatory adherence with maintaining an optimal user experience, allowing operators to focus on business growth while meeting legal obligations.
Founded in 2017, PayRetailers specializes in secure payment processing across Latin America and Africa. Its platform supports over 300 local payment methods, providing scalable and customizable solutions tailored to the evolving needs of businesses.
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