GMB - How did Pay4Fun was born?
Leonardo Baptista - Pay4Fun is a fintech that was born in 2017, taking advantage of the founders' expertise within the gaming market, after detecting that, despite the market being regulated, there was no payment method that efficiently supplied the entry of large. international companies in our market and that was consistent with the rules that govern this type of financial operations.
What services does Pay4Fun offer?
A digital wallet that allows end customers to transfer money to different sites (games, e-commerce, services, etc.), credit card with Mastercard brand in prepaid mode for use in any physical and online establishment, in addition to the sale of some products in our store.
How do transactions take place on the platform and on websites and apps?
The customer creates an account with us and deposits it in his wallet. That same customer transfers funds to the websites that we have as merchants. If the end customer has some kind of gain, he can also do the reverse operation: he transfers the funds from the website to the wallet and can request a withdrawal to his bank account preferably or use the Pay4Fun Card to make purchases.
Did you have a change in the target audience recently? What were the reasons?
Yes, initially Pay4Fun was born to serve the online entertainment audience. However, we recently launched the Pay4Fun Card, which has a Mastercard banner. This new product aims beyond this entertainment audience, also the unbanked ones. We brought to the national market solutions that make life easier for consumers who cannot have a bank account. We thought of a solution for informal workers and young people, who still don't have a bank account and need a credit card for online purchases, for example.
Has the Pay4Fun Card proved to be the favorite among poker players. In your opinion, what is the main reason for this success?
There is no way to list just one reason, I believe that in the first place it is the security to make transactions, the ease of transferring funds on the more than 140 integrated sites, not to mention the credibility of the trajectory of each of the partners we have, in addition to the ease of using all the card's features without bureaucracy. For example, it is possible to transfer your payout balance in any currency directly to the Pay4Fun Card and use it for purchases at any type of commercial establishment, in addition to online shopping and entertainment services, streaming videos and music, etc.
You launched your own app, Pay4Fun APP. What services do customers find available in the tool?
Our application is available on the IOS and Android platforms. In it, customers will be able to register accounts, check balance, deposits, withdrawals, transfer between Pay4Fun accounts, transaction history and 24/7 online service. We have more than 140 integrated partners, representing the most diverse niches so that the client can carry out transactions and transfer funds to commercial establishments and websites.
In addition to the Pay4Fun APP you also launched the Pay4Fun Store. How does it work?
Too easy. The user accesses the category and store he wants, chooses the amount he wants in credits and that's it: the order will be available in the chosen store and the amount will be debited from the registered Pay4Fun account. Uber, Claro, Sky, Tim, Vivo, IMVU, Spotify, Blizzard and Steam are some of the partners that are available in the Pay4Fun Store, for example.
How do you stand out in the midst of so many startups that appear day after day?
We believe that our greatest differential within the fintech market in general is our DNA of always evolving. Last year, we launched a series of products, improvements, and platforms in a very short period of time. Other than that, we follow closely all the trends in our market, translating this into actions that generate added value for our end customer and for our merchants.
Now with the arrival of PIX, how are you using this feature? Does it have advantages for customers?
It is possible to make deposits via PIX at Pay4Fun since the beginning of this modality, and now, we offer the withdrawal function for our customers. The advantage of using PIX for withdrawals will be the speed of receipt (with an average time of 1 hour, which can go up to 24 hours) and the exemption from fees, which occurred when requesting a withdrawal by bank transfer.
How was the year 2020 for Pay4Fun?
Even in the face of a pandemic scenario, the company achieved very high levels of growth.
Do you believe that the demand for online gambling will increase while the land-based will maintain its limitations on public entrance?
I believe that yes, people will continue to look for ways of entertainment without crowds. Even with the gradual return of the physical audience, many people will still prefer to stay at home. During this period of restrictions, it was possible to see that it is plausible to have fun and make money safely online. I am optimistic and I believe that we will have a major change in the gambling industry in the years to come, in the post-Covid era.
And which are your plans for 2021?
For 2021, the goal is to maintain the pace of growth and expand the range of customers to countries in Latin America. We have a lot going on in the financial market and we are monitoring and readjusting our services with the agility that our customers deserve.
Source: Exclusive GMB
