The possibility of making instant transfers at any time of the day and any day of the week has revolutionized the way of making payments in Brazil, even impacting the sports betting market. The strong adhesion of Brazilians to Pix – an electronic payment method launched in October 2020 by the country’s Central Bank - has made Brazil occupy the fourth position among the countries that make the most transactions in real time.
According to a study released by ACI Worldwide and prepared by GlobalData and Cebr (Center of Economics and Business Research), the country, which in 2020 occupied the eighth place on the list, in 2021 appears behind only India, China and Thailand in number of instant transactions (in addition to Pix, TED was also taken into account in the study). There were 8.7 billion of them - six times more than in 2020 -, more than double the UK (3.5 billion) and much more than United States (1.8 billion) and Japan (1.7 billion). This number corresponds to 5% of all financial transactions carried out in the country, and the percentage is estimated to reach 34% in 2026.
Unlike the previous forms (DOC, TED, boleto and card machines), Pix does not depend on banking hours and does not generate costs for those who send or receive, in addition to taking a few seconds instead of hours or even days to be completed. It is estimated that the implementation of Pix has generated cost savings of approximately US$ 5.7 billion (US$ 1.08b) for consumers and commercial establishments and a positive impact of R$ 5.5 billion (US$ 1.04b) on the country's GDP.
Pix also made it easy to use just one “key” – which can be an email, CPF, CNPJ, cell phone number or a simple QR Code. Other types of bank transfers require much more data such as branch, account, bank number, in addition to the CPF or CNPJ. The use of Pix makes it difficult for errors to occur at the time of transfer, not to mention security, since it is a 100% electronic type of transaction, with no “middleman” between the two parties.
A survey by the Brazilian Federation of Banks (Febraban) pointed out that, between March 2021 and March 2022, the number of users who made more than 30 Pix operations per month rose by 809% and the total number of registered users increased by 72%, reaching the number than 51 million account holders, practically a quarter of Brazil's total population.
The impact on sports betting in Brazil
Instant payouts are already very effective in the betting market. After Pix is deployed, international operators can receive deposits and authorize withdrawals for bettors located in Brazil much faster and with much less bureaucracy.
If recharges previously needed some time until payments were “compensated”, due to the bureaucratic procedures of international transfers, now the user can see his wallet recharged instantly, being able to immediately use the betting sites.
Before Pix, it was common for users to have to comply with various bureaucratic requirements that made it difficult to request withdrawals and that often depended on complex payment arrangements, which also drove away the flow of bettors.
PayBrokers: the solution for international traders
It is in this context that PayBrokers has stood out in the national payment market. The company offers eFX (payment facilitation) services to international customers, enabling them to receive and pay their Brazilian users, all in accordance with Central Bank regulations.
Through PayBrokers' simple and effective API, international sports betting operators can receive and pay their users via Pix. With it, the bettor can place his bets quickly and efficiently, as he loads his online wallet on his favorite website instantly and enjoys the most varied betting markets, such as the live market, which allows the user to bet even after the start of the sporting event.
To learn more about PayBrokers, visit www.paybrokers.com.br or send an email to [email protected].
Henrique Moreira
CFO - Paybrokers
