This license enables Paysafe to expand its payment partnerships with iGaming operators in Latin America’s largest country.
Global payments platform Paysafe has received approval from the Central Bank of Brazil (BCB) for a Payment Institution (PI) License, paving the way for its entry into Brazil’s regulated online sports betting and gambling market.
This license enables Paysafe to expand its payment partnerships with iGaming operators in Latin America’s largest country. Beyond iGaming, Paysafe will also support Brazilian merchants across various industries with advanced eCommerce payment solutions.
In addition to the license approval, Paysafe recently joined the Brazilian Association of Fintechs, strengthening its presence in the region’s regulated iGaming space. Paysafe already operates in over 90 regulated global jurisdictions, including key Latin American markets such as Argentina, Colombia, Mexico, Panama, Paraguay, Puerto Rico, and, most recently, Peru.
Enhanced Payment Solutions for Operators
With this license, Brazilian operators partnering with Paysafe can offer their customers digital wallets Skrill and NETELLER, both tailored specifically for iGaming. Operators can also access alternative payment methods (APMs) via Paysafe’s SafetyPay gateway, including instant bank transfers through Brazil’s Pix payment system.
Rob Gatto, Chief Revenue Officer at Paysafe, highlighted the importance of this milestone:
“We are 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, we can also streamline online transactions for local travel and entertainment merchants.”
This development solidifies Paysafe’s position as a key player in the global iGaming and eCommerce payment sectors, particularly in the rapidly expanding Latin American market.