PayBrokers, an institution specializing in payment solutions for the regulated Brazilian sports betting and iGaming market, took an important step recently.
The company obtained authorization to process payments for the lottery service in Paraíba (LOTEP), including state sports betting.
This qualification is the result of a public call for accreditation and authorization of a payment system for lottery licensees.
The State certified that the company met all required technical specifications, demonstrating its robust technical capacity for operations.
Along with PayBrokers, three other companies had their licenses granted, while nine had their applications rejected or did not present sufficient documentation.
PayBrokers’ assessment covered several aspects, including regulatory compliance, technical and financial capabilities.
In addition, adherence to procedures to prevent money laundering and terrorist financing, as stipulated by the regulations of the Central Bank of Brazil.
“This achievement not only reinforces the company’s competence and reliability, but also highlights its commitment to complying with all relevant BACEN regulations”, says Edson Lenzi, director of PayBrokers.
From now on, work will begin to implement the tool, which will be responsible for integrating payment methods and managing the activities and financial flows of lottery operators in the state.
About PayBrokers
The PayBrokers Group provides a complete financial ecosystem for national and international companies to operate in the Brazilian market.
With a focus on robust compliance policies, as well as risk control, anti-fraud and anti-money laundering tools, the group provides speed in transactions, highly stable infrastructure, financial services focused on the growth of its customers and constant innovation to drive the growth of its partners in Brazil.
About the Paraíba State Lottery (LOTEP)
LOTEP, a state agency, emerged in 1955, created by José Américo de Almeida. Ratified by Juscelino Kubitschek in 1956, it persists in development, strengthened by the STF decision in 2020.
Since its creation, LOTEP, supported by the STF in 2020, has been exclusively responsible for authorizing, supervising and approving lottery games throughout Paraíba.
