Paysafe, a global leader in payments technology, has announced that it has received a payment institution (PI) licence from the Central Bank of Brazil (BCB).
This milestone marks the company’s formal entry into Brazil’s regulated online sports-betting and gambling market, positioning it to support the region’s growing eCommerce ecosystem.
The licence allows Paysafe to extend its existing iGaming partnerships into Brazil, leveraging its expertise in regulated markets across Latin America. Paysafe currently operates in 90+ regulated iGaming jurisdictions worldwide, including Argentina, Colombia, Mexico, and most recently, Peru, whose regulated market launched in early 2024.
Brazil, with its 212 million population, is forecasted to generate a sports-betting turnover of $34bn by 2028, making it the largest regulated iGaming market in Latin America. Paysafe is well-equipped to cater to this demand by offering a comprehensive suite of payment solutions tailored to Brazilian consumers’ diverse preferences.
Paysafe Chief Revenue Officer Rob Gatto said, “With this expansion, Paysafe is poised to better serve the Brazilian market with payment solutions, including the regulated Brazilian iGaming market, which will mark a new era for not only Latin American gaming but also the global space, with the country becoming the third largest betting jurisdiction on earth.
“We’re delighted to bring our deep payments, regulatory and compliance experience into play in this important new market to support Brazilian operators’ growth with our payment solutions following our new payment institution license, which will also allow us to streamline online transactions for local travel and entertainment merchants.”
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