GMB - What is the importance of your participation in recent BiS SiGMA Americas, an event that has already become global?
Pedro Fraiha - It was a new opportunity, and we were very happy to be at the event to position ourselves with clients and showcase our new solutions at such an important moment of regulatory change. We showed how prepared we are for this and demonstrated all the security we can offer to our partners.
The Secretariat of Prizes and Betting recently released the ordinance regarding payment transactions. Are you ready for this new reality? What are the innovations coming from the perspective of Pay2Free solutions?
We are very pleased with the regulation, and in a way, it will remove some of the regulatory and legal uncertainty from the market. For us, it is very important because we act in accordance as a resource collector for purchasing services abroad like efex and as a collection agent. Now, with specific regulation for the betting market, it is very important.
We are in the process of acquiring an IP and will be a direct participant in this segment. Currently, we work plugged into five IFs to maintain high availability and create redundancy for our clients. Our clients stick with us because we generate very few problems or calls. The reason for this is our connections with the IFs. Although we are directly connected to the Central Bank through the acquisition of this IP, we will continue with this redundancy.
We will continue with this redundancy and with our settling partners. We understand that this market needs redundancy because it is very massive. From the perspective of financial settlement, we are very secure. The innovations for this event are other functionalities that we are adding to our platform.
What are these functionalities, and what's new regarding Pay2Free solutions?
We already offer basic KYC with CPF validation, but now we are offering liveness with biometric validation, which will come as an important piece of regulation. We are putting together a complete KYC for our clients. We understand that in managing payments, clients can also manage the verification of their users within our platform. This is already being implemented, and liveness will be available in two or three months.
Additionally, we will provide what we currently use internally for compliance tooling. What we use internally to monitor suspicious operations and classify our risk matrix, we will offer to our clients for free. For us, it is important that our clients have, at the turn of regulation, the same concern we have regarding monitoring operations. This will be a differentiator of our platform, which is the compliance product that today we somewhat assume responsibility for, but in regulation, the bets will have to assume as well.
Furthermore, our back office has been completely revamped. We have greatly improved the financial management and reconciliations, given what I mentioned about availability by being plugged into five IFs. Our back office is very prepared to handle all this financial and cash management for our clients. It's a change that gives us the confidence that it will be a differential on our platform.
With all these tools and the new ones, like KYC and back office, you are not just talking about payment transactions anymore, but about complete solutions for the client?
Exactly. We are offering an end-to-end solution. From deposit to withdrawal, from cash-in to cash-out, there are various processes, from KYC, compliance, to financial reconciliation and provisioning of resources, which the Federal Revenue will establish as a prudential measure for sports betting houses.
We are encompassing all these solutions so that our client, who currently operates the transactional and collection aspects, can have a range of services and solutions attached by our solution without needing to leave that environment. We are positioning ourselves beyond the payment gateway service and as a technology provider with other solutions that our clients can leverage.
Source: Exclusive GMB
