Zona de Azar Brasil – Brazil: Pay4fun Conducts Technical Studies for New São Paulo Lottery
Brazil.- July 15, 2024 www.zonadeazar.com On July 2, 2024, Bill (PL) 456/2024 was approved, establishing a municipal lottery in the city of São Paulo. The project includes betting shops and concessions for online betting companies. Pay4Fun, a pioneer in the sports betting sector and authorized by the Central Bank of Brazil, was one of the companies selected to carry out comprehensive studies. These studies involve market assessments, estimated demand and operational and regulatory data.
Pay4Fun
Additionally, Pay4Fun recently obtained permission to process lottery payments in the State of Paraíba. The CEO and co-founder of Pay4Fun, Leonardo Baptista, highlighted the importance of this project, emphasizing the company’s commitment to contributing to a professional market with transparent rules.
FGO Legal’s legal consultancy will also assist in the development of the project, ensuring compliance with the strict rules for preventing money laundering and terrorist financing. Founded in 2018, Pay4Fun operates in the sports betting and online gaming sector, processing more than R$2.6 billion in financial transactions in 2022.
Legal advice
Pay4Fun, the first institution authorized by the Central Bank to operate in the sports betting and online gaming sector, was selected to collaborate with the project to create a new municipal lottery in São Paulo. The company will carry out technical studies, including scenario diagnosis and operational, economic-financial and legal-regulatory feasibility survey.
To ensure compliance with regulatory rules, Pay4Fun will rely on legal consultancy from FGO Legal, specialized in the online gaming market. Lawyer Ricardo Alegransi highlighted that the objective is to create an efficient operational environment, following strict rules to prevent money laundering and terrorist financing (PLD/FT).
The company will have legal consultancy from FGO Legal
This collaboration aims to ensure transparency and security for everyone involved in the São Paulo betting market. Pay4Fun, recognized for its security and efficiency in processing online transactions, will lead the technical studies necessary for the implementation of the new municipal lottery.
About Pay4Fun
Pay4Fun is a payment institution authorized by the Central Bank of Brazil and a pioneer in its sector. It allows you to carry out transactions quickly and securely. From the beginning, Pay4Fun stood out for its humanized service, with a trained team available 24 hours a day. The company operates with more than 500 integrated websites in the entertainment segment and recorded a volume of financial transactions of R$2.6 billion in 2022.
The company is consolidated in the market
Furthermore, Pay4Fun has received recognition in the industry. It was considered the Best Payment Method for Latin America in the awards promoted by SAGSE 2022 and was also chosen as the Best Payment Method at the Brazilian iGaming Awards. In 2023, the company won the RA 1,000 seal from Reclame Aqui, came in third place as the best financial services company to work for in GPTW and was ranked second in the SBC Awards, in Barcelona, as payment innovation of the year.
About FGO Legal
FGo Legal, founded by experts with more than 25 years of experience, acts as Project Manager, focusing on the development of personalized solutions for strategic legal topics. Combining legal expertise and a collaborative and innovative approach, FGo Legal provides the best results for clients, applying efficient strategies and specialized legal teams.
FGO Legal
The office stands out in mergers and acquisitions (M&A) processes, fintechs, payment methods, capital markets, tax consultancy and public tenders. Its activities cover several areas, offering consultancy to both national and foreign companies. It is worth mentioning that FGo Legal’s partners have experience in large corporations, which further enriches the firm’s expertise.
Edit: @_fonta www.zonadeazar.com
