The Bill sanctioned by Mayor Ricardo Nunes included traditional lotteries, sports betting houses and online games. Among the five companies approved to present scenario diagnosis and operational, economic-financial and legal-regulatory feasibility surveys is Pay4Fun.
The company was the first payment institution to operate in the sports betting sector with authorization from the Central Bank of Brazil. It recently obtained permission to process payments from the Paraíba State lottery service.
“We are recognized for security and efficiency in processing online transactions. Participating in the development of the lottery project for the largest city in Latin America reinforces our commitment to building a professional market with clear rules for all sectors,” says Leonardo Baptista, CEO and co-founder of Pay4Fun.
To collaborate with the project to be developed, Pay4Fun will count on legal consultancy from FGO Legal, with experts in the online gaming market. According to lawyer Ricardo Alegransi, the objective is to assist the public entity in creating an efficient operational environment, following the strict rules for preventing money laundering and terrorist financing (PLD/FT).
"This consultancy is crucial to ensure that the São Paulo lottery and betting market operates within the standards established by the Central Bank, guaranteeing transparency and security for everyone involved," says Ricardo Alegransi.
Founded in 2018, Pay4Fun is the first payment institution to operate in the sports betting sector with authorization from the Central Bank of Brazil. Operating with more than 500 integrated websites in the entertainment segment, the company reached the mark of R$2.6 billion in financial transactions in 2022.
Pay4Fun 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, the company 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.
FGO Legal is an office specialized in developing personalized solutions on strategic legal topics and consultancy for national and foreign companies. Since 2020, FGO Legal has worked with mergers and acquisitions (M&A), fintechs and payment methods, capital markets, tax consultancy and public tenders.
Source: GMB
