PayRetailers, a leading payment processor in Latin America and Africa, has launched an enhanced Pix payment solution to assist betting operators in Brazil as they prepare for the new sports betting regulations set to take effect on 1 January 2025.
Pix, Brazil’s instant payment system developed and managed by the Central Bank, has changed how transactions are made in the country. With over 170 million users and 90% of Brazil’s adult population using the system, Pix is now integral to payment processing for businesses across sectors. PayRetailers’ updated Pix solution has been tailored specifically for Brazil’s sports betting market, ensuring operators comply with new regulations that require payments to be processed only through bank accounts registered to individual players.
The new regulations introduce stricter compliance requirements, requiring all payment transactions for sports betting operations to be verified against player-registered bank account details. PayRetailers’ solution automates this process while retaining the speed and convenience that Pix is known for, allowing betting operators to seamlessly integrate compliance into their existing payment workflows.
The enhanced solution provides real-time account validation, ensuring that each transaction meets regulatory requirements without manual intervention. It also supports multiple registered accounts for bettors, streamlining the payment process while maintaining compliance. Additionally, PayRetailers’ solution includes advanced treasury management tools, such as real-time balance monitoring and automated reconciliation, enabling operators to manage their financial operations more efficiently.
PayRetailers has built on its established Pix infrastructure, which processes millions of transactions monthly, to offer a solution that provides scalability and security. The new features include intelligent routing to speed up payments, real-time validation of CPF (Cadastro de Pessoas Físicas, the Brazilian individual taxpayer identification number) and bank accounts, and automated handling of non-compliant transactions. By using these capabilities, betting operators can focus on growing their businesses while confidently meeting regulatory demands.
With Pix’s widespread adoption across Brazil, PayRetailers’ enhanced solution is set to play a key role in supporting betting operators as they prepare for the 1 January 2025 regulatory deadline. The solution is available for immediate integration, giving operators the tools they need to ensure a smooth transition into the new regulatory environment.
Juan Pablo Jutgla, CEO at PayRetailers, said: “The sports betting industry in Brazil is poised for significant growth, but operators will face increasing pressure to comply with the new regulations. Our enhanced Pix solution helps operators strike the right balance between ensuring compliance while maintaining an optimal user experience. By automating the validation and verification processes, we eliminate the need for manual intervention, allowing betting operators to focus on innovation and growth. This is not just about meeting regulatory requirements—it’s about setting a new standard for the industry, where compliance and customer experience go hand in hand.”
Daniel Niezgoda, CTO at PayRetailers, added: “As Pix becomes central to Brazil’s financial system, the need for seamless payment processing paired with compliance automation has never been greater. Our enhanced Pix solution offers real-time account validation and intelligent routing, streamlining operations while reducing risks and ensuring efficiency. Designed to be scalable and easy to integrate, it empowers betting operators to navigate regulatory challenges effortlessly while optimizing their processes for growth.”