Pay4Fun is the first payment institution in the sports betting sector authorized by the Central Bank of Brazil. The company has just announced the first digital account focused on this market.
Therefore, the new account was designed to meet the specific needs of online betting users. In this way, offering a more fluid, safe, fast and transparent experience, aligned with current regulatory guidelines.
The new financial product is in full compliance with Brazilian payment laws for the betting market recently published by the Ministry of Finance. It offers essential services such as Pix, also benefiting the unbanked, who can access the account with prepaid credits.
Pay4Fun is the first payment institution in the sector to provide a digital account. The company has become one of the main fintechs in the segment in Brazil, with more than 2 million users and turnover of more than R$500 million per month. It is integrated with the main bookmakers in the world.
“We are proud to further consolidate Pay4fun as a pioneer in the Bet sector, developing a complete transactional account”, said Leonardo Baptista, CEO and co-founder of Pay4Fun.
We have been operating in this market for over 20 years, so we have the expertise to understand users’ needs, from our product team with experience in large banks.”
“With this launch, we reaffirm our commitment to providing the best possible experience to our users, ensuring security, convenience and efficiency in all transactions”, he added.
What changes for Pay4Fun users?
Previously, users only carried out transactions between the digital wallet and bookmakers or transfers to other digital wallets of Pay4Fun customers.
Now, with the new transactional account, customers can register a Pix key to make deposits and transfers. In addition, receive prizes, make payments via QR Code, in addition to making and receiving transfers from Pay4Fun customers and other banking institutions.
The change will allow users to access new features in their accounts associated with Pix, bringing greater ease and agility to transactions.
Users can carry out operations using registered Pix keys, secure accounts, reading QR Codes and other options. The new feature has been available for download on the Appstore and Play Store since July 8th.
About Pay4Fun
Founded in 2018, Pay4Fun is the first payment institution, operating in the sports betting sector, to receive authorization from the Central Bank of Brazil. Operating with more than 500 integrated websites in the entertainment segment, the company reached the mark of R$8.1 billion in financial transactions in 2023.
The company was considered the Best Payment Method for Latin America in the awards promoted by SAGSE 2022 and chosen as the Best Payment Method at the Brazilian iGaming Awards.
Finally, in 2023, the company won the RA 1,000 seal from Reclame Aqui and ranked 3rd as the best financial service company to work for in GPTW. In addition, 2nd place in the SBC Awards, in Barcelona, as payment innovation of the year.
