Eightroom Vpag has just taken an important step by expanding its range of solutions for the Brazilian market.
Pay Instituição de Paço S.A. (CNPJ nº 36.690.516/0001-52), a company of the Eightroom Vpag Group, obtained on Friday (23) authorization from the Central Bank of Brazil to become a payment institution issuing electronic currency .
Eightroom Vpag will offer exclusive services to Brazilians
Through Pay, Eightroom Vpag, which has been operating in the iGaming industry for over 18 years, will use its experience with high-value user acquisition and its UX know-how to explore the fintech market.
The business model targets the gaming and betting sector, recently regulated by Law No. 14,790, of 2023, and by ordinances issued by the Secretariat of Prizes and Bets (SPA) of the Ministry of Treasury.
The business model proposed by Pay will offer a variety of services aimed at the Brazilian consumer, one of its initiatives being Vpag, where users will be able to benefit from the creation and portability of their PIX keys, physical and virtual credit cards, bill payments consumption and a loyalty program focused on the needs of Brazilian bettors.
Through an exclusive application, Pay will offer its users the possibility of managing their balances at all betting houses where they have active profiles, in addition to making deposits and withdrawals at various gaming and betting operators, and accessing a series of advantages such as promotions and incentives made available especially for your profile.
Bookmakers duly licensed by SPA will be offered transactional accounts. They have a full guarantee of compliance with legal requirements regarding payment methods established by the Ministry of Treasury.
Therefore, it is worth highlighting that, in accordance with Law No. 14,790/2023, only financial or payment institutions duly authorized by the Central Bank will be able to operate in the Gaming and Betting segment.
Company will participate in the SBC Summit Lisboa
However, in order for this authorization to be obtained, Pay counted on the valuable assistance of the Jantalia Advogados firm. They specialize in regulatory demands before the Central Bank.
Then, the company had the support of partners Fabiano Jantalia and Paulo Portuguez, who provided advice at all stages of the authorization process. In other words, from the company’s statutory reformulation to the actual obtaining of the license.
Bernardo Bicarano, CCO at Pay, described the feeling after such an important achievement for the company’s consolidation in the Brazilian market.
“With this achievement, we were able to improve our experience, integrating with the main operators who seek to consolidate themselves with the differences we have in-house. Furthermore, we are also user-oriented. We are committed to improving the user experience from all sides.”
“Therefore, we joined our efforts to consolidate Affiliation with Eightroom, digital account with Vpag and payments with Vpag Flash. Therefore, all of our teams are committed to ensuring the synergy of these products for our customers. We have aggressive goals that we will certainly achieve throughout 2025.”
Eightroom Vpag will continue to be present at the main events that shake up the sector. The next one will be the SBC Summit which will be held in Lisbon and Miami, and the SiGMA Europe in Malta. In Brazil, the company already has guaranteed space at fairs in the capitals of Rio de Janeiro and São Paulo, at SBC Rio and BiS SiGMA Americas.
To schedule a meeting with one of their representatives, simply contact one of their communication channels.