Pix, an instant payment system developed by the Central Bank of Brazil, has changed the way financial transactions are carried out in the country. With over 170 million users and 90% of the adult population joining, Pix is now an integral part of the payment process for businesses in various sectors of the economy.
PayRetailers' new Pix solution was tailored to meet the standards of the Brazilian betting market, ensuring that betting operators comply with the requirements of the new regulation, which requires payments to be processed only via accounts previously registered by bettors.
The regulation establishes strict criteria, requiring that all payment transactions in sports betting operations be verified using the bank details of registered bettors.
PayRetailers automates this process, maintaining the speed and practicality for which Pix is known and allowing betting operators to comply with the regulation in an agile manner and integrated into their payment flows.
The enhanced solution offers real-time account validation, ensuring that each transaction meets regulatory requirements without the need for any manual intervention. It supports multiple accounts registered by bettors, optimizing and maintaining the operation's compliance.
In addition, PayRetailers' new payment method features advanced financial management tools, such as real-time balance monitoring and automated bank reconciliation, allowing operators to manage their transactions more efficiently.
PayRetailers has developed its Pix infrastructure, which processes millions of monthly transactions, to offer a solution that guarantees scalability and security.
The new features include intelligent processing to speed up payments, real-time validation of CPF and bank accounts, and automated processing of transactions that do not comply with legal requirements. With the help of these functions, betting operators can focus on growing their business, meeting regulatory demands safely.
Given the widespread adoption of Pix across Brazil, PayRetailers expects the solution to play a key role in supporting betting operators as they prepare for the final adaptation period. The solution is available for immediate integration, providing operators with the tools they need to ensure a smooth transition to the new regulatory environment.
For Juan Pablo Jutgla, CEO of PayRetailers, the sports betting industry in Brazil is set to experience significant growth, but operators will face increasing pressure to comply with the new legislation.
“Our Pix solution helps operators find the right balance between ensuring legal compliance and maintaining excellent user experience. By automating identity validation processes, we eliminate the need for manual intervention and allow bookmakers to focus on innovation and growth. It’s not just about meeting regulatory requirements, but about setting a new standard for the industry, where compliance and user experience go hand in hand,” he says.
Daniel Niezgoda, CTO of PayRetailers, adds: “As Pix becomes a central instrument in Brazil’s financial system, the need for an agile and automated payment method has never been greater. Our solution offers intelligent processing and real-time account validation, optimizing operations and efficiently reducing risks. Designed to be scalable and easy to integrate, it empowers betting operators to navigate regulatory challenges with ease, while optimizing their processes for business growth.”
Founded in 2017, PayRetailers is a global leader in payment processing in Latin America and Africa. In Brazil, it is authorized to operate as a payment institution by the Central Bank.
The company’s mission is to offer complete solutions for e-commerce, covering the entire process of international transactions. Through a single API, an advanced technology platform and commercial agreements, PayRetailers enables access to more than 300 local payment methods.
Its proprietary technology architecture is highly flexible and scalable, enabling rapid innovation to meet the demands of constantly evolving markets.
Headquartered in Spain, in Barcelona and Madrid, the PayRetailers Group also has offices in Argentina, Chile, Costa Rica, Brazil, Colombia, Mexico, Peru, Bulgaria and the Isle of Man.
Source: GMB
