The payment method is considered one of the most important pillars of the sports betting sector and one of the companies that stands out in this industry is Pay4Fun, which has just passed the mark of 300 partner sites, right after another important achievement. “On June 10th, we received the license from the Central Bank to operate as a Payment Institution regulated and authorized by it,” says Leonardo Baptista, CEO of the company.
For the executive, this is an extra security that Pay4Fun offers to the market and reinforces the concept that as a financial company linked to the Central Bank, “we have to take all the care with regard to documentation, compliance, risk, invasion, etc.”
GMB – Sports betting relies heavily on security, reliability and agile payment methods. Is that what Pay4Fun offers?
Leonardo Baptista – That's right. It is a complete package. You cannot forget anything in the process: speed, agility, guarantee for the user of the entry and exit of money, fast payment and validation. Pay4Fun is halfway there. It is between the user and the operator site. We guarantee information security, speed and agility for both ends. Everything an operation needs to provide good customer service. End-to-end security is one of our philosophies. We are regularly tested against intrusion and hacking, taking care of the entire operation from start to finish.
Is it a financial system business?
That's exactly it. So much so that one of the things we have to make clear is that regulation is coming to the Brazilian betting scene and that the Brazilian payment system is one of the most advanced in the world and has been regulated for many years. So, we are a financial company linked to the Central Bank of Brazil. We have to take all the care with regard to documentation, compliance, risk, invasion, etc.
With the growth of the sports betting industry, we have seen Pay4Fun growing, with more and more sportsbooks adding your payment system to their platforms.
Thank God. Our growth is impressive. Since the beginning, we have been growing 100% a year and now we have another reason to celebrate. We have just surpassed 300 sites operating with Pay4Fun and on June 10th we received the license from the Central Bank to operate as a Payment Institution regulated and authorized by it. It's record and good news one after the other.
It's added security for customers and partners...
Exactly. Something that we always say to operators: in addition to taking good care of our customers, taking them by the hand and providing them with 24/7 service, we sell something important to operators, which is the guarantee of 'who is the person who is making a deposit and who will receive the withdrawal'. This greatly helps operators in combating fraud and bonus abusers, among others. One of the things we hear the most is about fake account issues and bonus abuse. We're done with this. There is no such problem operating with us.
Is it one more achievement for this work crowned with success?
Of course yes. It's been five years of hard work, successful, persistent, resilient and with a team that has been growing more and more. And I take this opportunity to thank all the collaborators and partners.
With the regulation of sports betting, which is about to happen, do you imagine that the market will grow a lot?
Undoubtedly. We understand that with the regulation, this market will explode and many companies will come to Brazil. We will be ready to meet the rules of regulation. May it come soon.
How is Pay4Fun's expansion project going throughout Latin America?
With strides. In two months we will start our operation in Peru, where we are already a publicly traded company, as well as the accounts, just needing to finish the development of the platform. Peru in two months and by the end of the year with complete operation in Chile and Mexico.
Source: Exclusive GMB
