GMB – How is OneKey Payments behaving in the face of the new reality brought by the payment methods ordinance for the regulated market??
César Garcia – This ordinance came at a good time because the market was already expecting it, and today the way it operates is completely different. The vast majority of payment providers operating for bets do not have regulation and do not meet minimum capital or account segregation requirements.
The ordinance arrived at an excellent moment because now it mitigates the risk of using partners who are not certified and do not have a Central Bank license or are not under supervision. It provides greater security for the consumer, ensuring that their money—and their bet—is processed by a serious partner and that the money is safe and won't disappear, as there have been recent complaints.
Is OneKey Payments fully prepared for the ordinance that was released a few days ago?
Yes, OneKey is 100% compliant with the regulation. Our accounts and accounting model already incorporate the segregation of assets between the bettor's account and the operator's account. All our processing already complies with the regulations, and OneKey has undergone two Central Bank audits, with a third one upcoming. Our expectation is that serious companies like ours will position themselves well in the market, and those that pose a risk today will disappear.
What were your goals when visiting the recent BiS SiGMA Americas?
The goal was to expand our network of relationships and clients, strengthening our partnership with them and showing that OneKey is a serious company that is here to stay and has everything to succeed in the market.
What is your message to the bettor, who will now have a regulated payment company?
My message is for bettors to make their bets with serious operators who work with certified payment providers that meet the minimum capital and prudential requirements. Why? Because, at the end of the day, it is their security that they will receive their bet winnings.
And for the operator, what is your message regarding the entire technological infrastructure that OneKey offers?
For the operator, my message is the same concern I always express: not to venture with partners who do not have or do not meet the requirements. This is necessary because partnering with non-compliant providers introduces more risk to the market, the operation, and the potential for client funds to disappear. This brings inherent reputational risk to the operator, which is much greater.
With all the regulation design, not just payment methods but the entire betting ecosystem, do you believe Brazil will become a powerhouse?
It has every chance to become one. Brazil, with over 200 million people, is the main market for sports betting. Regulation brings more security, which will enable the entry of new participants who are not currently here due to the lack of regulation. These are publicly traded companies with high levels of governance that need to report on their activities abroad and are not here today because there is no regulation in the sector.
This legal uncertainty will end as soon as the government, through the Secretariat of Prizes and Betting, completes the agenda of measures to regulate the sector. This is a very positive sign, and I know that Brazil will become one of the main markets for fixed-odds sports betting.
Source: Exclusive GMB
