In Brazil, Pay4Fun is already present in the lottery sector. The institution implemented the totem payment solution in video lottery terminals in Paraíba, in partnership with two local operators. The solution allows you to make deposits and withdrawals in a safe and convenient way.
Cibelae is a non-profit organization that represents state lotteries in Latin American and Caribbean countries. The association is recognized as a member of the Word Lottery Association (WLA), the largest professional association of state lottery and gaming organizations, present in more than 80 countries and six continents.
Pay4Fun is also closely following the movement towards opening state lotteries in Brazil. The market has great growth potential and the institution is confident that it will contribute to its development.
Currently, in Brazil, federal lotteries are regulated by Caixa Econômica Federal, while state lotteries are regulated by each state individually. This scenario has been discussed in Congress for possible changes to the current system.
“We believe that our solution can be an important tool to attract players and improve the gaming experience at physical lottery locations. We are confident that we can contribute to the growth of land-based in Brazil and the association with Cibelae reinforces our commitment," says Leonardo Baptista, CEO and co-founder of Pay4Fun.
Founded in 2018, Pay4Fun is the first payment institution, operating in the online entertainment sector, to receive authorization from the Central Bank of Brazil. Working with more than 500 integrated websites in the entertainment segment.
The institution was considered the ‘Best Payment Method for Latin America’ in the awards promoted by SAGSE 2022 and chosen as the ‘Best Payment Method’ at the Brazilian iGaming Awards.
In 2023, Pay4Fun won the RA 1,000 seal from ‘Reclame Aqui’, 3rd place as the best financial service company to work for in GPTW and 2nd place in the SBC Awards, in Barcelona, as payment innovation of the year. To find out more about the company, visit the website or connect on Linkedin.
Source: GMB
