Pay4Fun is a pioneering payment institution in the sports betting sector in the country. Recently, it received authorization from the Central Bank of Brazil to process payments in the lottery service in the State of Paraíba.
The concession granted by LOTEP marks a step forward for Pay4Fun, which is now able to facilitate the processing of players’ financial transactions in the State.
With this authorization, LOTEP customers will have more payment options available, which will make the gaming experience more convenient and accessible.
Pay4Fun’s reputation for security and efficiency in processing online transactions reinforces the trust of both players and LOTEP itself.
Furthermore, the partnership between Pay4Fun and LOTEP promises to boost the growth of the gaming market in Paraíba. In this way, opening doors to more entertainment opportunities and contributing to the economic development of the state.
New authorization details
With this new authorization, Pay4Fun solidifies its position as a leader in payment processing in the gaming and betting segment in Brazil. The company was the first to receive authorization from the Central Bank of Brazil to operate as a payment institution in this sector.
In this way, the group demonstrated a commitment from the beginning to the security of customer data, in accordance with the guidelines of the General Personal Data Protection Law (LGPD) and cybersecurity.
Leonardo Baptista, CEO and co-founder of Pay4Fun says: “We are excited about the opportunity to collaborate with Loteria da Paraíba and offer players a convenient and secure payment experience.
This authorization represents an important milestone in our expansion into the gaming and betting market, and we are committed to providing innovative solutions that meet the needs of our customers.”
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$2.6 billion in financial transactions in 2022.
The company was considered the Best Payment Method for Latin America in the awards promoted by SAGSE 2022. Furthermore, it was chosen as the Best Payment Method at the Brazilian iGaming Awards.
In 2023, the company won the RA 1,000 seal, from Reclame Aqui, the 3rd position as the best financial service company to work for in GPTW. Furthermore, it was ranked 2nd at the SBC Awards, in Barcelona, as payment innovation of the year.
