Zona de Azar Brasil – Brazil: Pay4fun Launches ‘X-Ray’

Brazil.- May 9, 2024 www.zonadeazar.com  Pay4Fun, recognized as the first payment entity sanctioned by the Central Bank to operate in the sports betting sector, recently introduced “X-Ray”. This report provides a detailed analysis of the order SPA/MF nº 615/2024, issued by the Secretariat of Prizes and Apuestas of the Ministerio de Hacienda.

The document covers the complete description of the payment procedure, the administration of participant funds and the operational practices established to guarantee the financial integrity of the Bet betting sector.

Responsible Play is the Main Objective

The new Ordenanza de Pagos, issued by the Secretaría de Premios y Apuestas del Ministerio de Hacienda, has the objective of combating money laundering, guaranteeing the integrity of transactions in the financial sector and promoting greater financial transparency.

Leonardo Baptista, executive director and co-founder of Pay4Fun, sees the initiative as a way to promote conscious gaming. He highlights the importance of the federal policy of not betting with resources that are not available, with the objective of preventing debt and the upheaval of the game.

Pay4Fun, leader in payment solutions for online betting in Brazil, is ready for new guidelines. The company offers electronic transfers, in accordance with Central Bank regulations, following the highest due diligence standards.

Camila Caresi, director of governance, risks and compliance at Pay4Fun, highlights that the Ordinance is a warning for payment operators. Previously accepted practices will not be allowed in legal lagoons.

Companies that want to maintain their operations in Brazil must adapt and invest in secure payment methods. Breaking the rules could give rise to strict sanctions, including suspension or cancellation of your operating license.

The main exchanges for betting houses in Brazil are the following:

Protection through separate accounts

To guarantee the security of players’ funds, gambling companies must maintain separate transaction accounts in banks approved by the Central Bank of Brazil.

Fast payment of premiums

The winners will have the right to receive their prizes within a maximum period of 2 hours after the event ends. If the betting house does not have sufficient funds, it must use resources from its own account to make the payment.

Responsibility of betting companies

It is prohibited for gambling houses to offer bonuses or benefits that promote the act of betting, as well as to enter into alliances with financial entities to provide credit to players. Advertising must be carried out responsibly without encouraging addiction to the game.

For payment entities that adapt to new standards, the Ordenanza represents a great opportunity for expansion. With the online betting market increasing in Brazil, the adoption of safer and more transparent rules promises to boost the growth of the sector further.

Edit @_fonta   www.zonadeazar.com