During the Board of Directors meeting held by the Iberoamerican Corporation of Lotteries and Bets of State on March 22 in Rio de Janeiro, Brazil, the incorporation of PayBrokers as an associate member of the corporation was approved.
PayBrokers is an eFX (international transaction and payment service provider) focused on the high risk market, especially gaming and betting, which processes payments through the PIX payment method. Currently, PayBrokers collaborates with more than 400 merchants, managing more than 1.5 million transactions daily.
As of 2023, PayBrokers has started to expand its operations to the lottery segment. Recently, it has signed an exclusive and official payment contract with Lottopar (Paraná State Lottery – Brazil).
PayBrokers is also implementing other payment methods, such as credit and debit cards, to serve other Latin American lotteries that do not have PIX. This expansion significantly contributes to the prevention of money laundering and promotes responsible gambling.
By joining Cibelae as an associate member, PayBrokers strengthens its position in the Iberoamerican market and gains valuable networking opportunities within the lottery and betting industry. This collaboration is aligned with Cibelae's objective of promoting innovation and cooperation among its members to improve the quality of lottery and betting services in the region.
Founded in 1988, Cibelae is a non-profit civil association with a regional vocation and global expansion, recognized as an associate member of the World Lottery Association (WLA), the most important professional association of state lottery and gaming organizations in more than 80 countries in the 6 continents.
As a payment platform, PayBrokers understands that it has a lot to contribute to the lottery association and community, offering tools that can help both responsible gaming and money laundering prevention practices.
PayBrokers has already signed a contract with Lotepar - Paraná State Lottery - exactly for this purpose and, soon, it aims to be present in more lottery organizations both in Brazil and in other Latin American countries.
Source: GMB
