Sports betting platforms can find success by using Brazil’s most popular payment method, Pix. The digital instant payment method has played a pivotal role in online sports betting.
The new regulations on Brazil’s sports betting market have recently led giants like DraftKings Inc. and MGM Resorts International to target Latin America’s largest economy, as recently covered by Bloomberg[1]. And we can understand why: Brazilians spent over R$54 billion[2] on online betting in 2023, which shows the potential of the Brazilian market in this booming industry.
However, companies targeting this market should be aware of Brazil’s sports betting payment scenario. The recently issued Normative Ordinance No. 615 outlines regulations surrounding financial management, payment methods, and operational standards for betting platforms.
Local payment methods play an essential role in this scenario, as the Normative establishes authorized payment methods, which include Pix, TED transfers, debit cards, prepaid cards, and transfers within the same institutions. Prohibited payment methods include cash, payment slips, checks, cryptocurrencies, unregistered account transfers, third-party payments, credit cards, and any non-specified electronic transfer methods.
Source: https://env.media/brazilian-market-overview
Pix: The Game-Changer For Sports Betting Platforms Entering Brazil
Sports betting platforms can find success by using Brazil’s most popular payment method, Pix. The digital instant payment method has played a pivotal role in online sports betting. According to Darwin Filho, CEO of Esportes da Sorte, the payment modality not only helped boost betting overall but also helped the online betting modality take off: “The instant nature of transactions, from deposit to withdrawal, has led customers familiar with other forms of gambling to switch to online gaming due to the ease of transactions”, said Filho to Veja[3].
But simply offering Pix isn’t enough to guarantee a successful operation. Companies aiming to enter the Brazilian market must offer solutions that enable a secure and positive payment experience so customers complete the entire payment flow and remain loyal to their brands.
CommerceGate’s Unique Pix Solutions For Sports Betting
Among the many sports betting websites available in Brazil offering Pix, consumers turn to platforms that offer the most convenient experience, where they can complete deposits quickly, without going through extensive checkout steps.
CommerceGate’s unique Static Pix QR Code offers a seamless payment experience, with fewer steps to complete deposits helping boost Customer Lifetime Value (CLTV) by up to 7%.
Dynamic VRs. Static QR Codes: Understand The Difference
Dynamic Pix QR Codes are unique for each transaction, as users must enter the required payment amount and input additional details depending on the receiver’s requirement.
Static QR code, on the other hand, only contains the recipient’s account number, providing a seamless payment experience – especially for recurring payments.
After the first payment, users can simply repeat the process in their banking app, increasing convenience and boosting your platform’s Lifetime Value (LTV) by up to 7%.
Anti Money Laundering Checks with CPF-Lock
CommerceGate’s solution also enables merchants to create a QR code for specific CPFs (Brazilian taxpayer ID), ensuring control over payments and guaranteeing they come from verified users.
This feature allows merchants to transmit the CPF code to CommerceGate and, with an additional parameter, decide whether to generate a QR code specifically for the named user.
The QR code can be easily paid from any bank account, provided the account holder has the same CPF provided by merchants.
Plug Into LATAM: CommerceGate Is Your Experienced Payment Partner For Brazil
Access Latin America’s biggest customer base and leverage the power of real-time financial transactions in Brazil with CommerceGate’s native Pix payment solution — top security, scalability, and transparency.
