Pix has been cited as playing a critical role in transforming iGaming engagement in Brazil.
Speaking at SBC Summit Americas, Bruno Veridiano Geraldini, Executive Affairs Director at Brazino777, emphasised that even as the market matures, many international companies are struggling to understand the specifics of Brazil’s financial system when entering the country.
Pix is a system developed by the Central Bank of Brazil that facilitates the instant transfer of money between consumers and business owners free of charge.
The iGaming sector tapping into Pix has been pinpointed as a crucial asset to the growth of the regulated industry, especially as it navigates untimely tax hikes and promotional changes. Enabling an effective instant payment journey for both withdrawals and payments.
Geraldini detailed that companies often fail to fully understand the capabilities of Pix, particularly the concept of Pix keys, resulting in a convolution of the payment process. Instead of requiring users to enter complete bank account details, Geraldini emphasised that operators could adopt solutions such as Pix keys – or other equally simple methods—to make the payment experience faster and more intuitive.
The black market continues to be a threat to the regulated sector in Brazil, and Geraldini highlighted that Pix and the payment infrastructure it offers can be one of the most effective tools for combating the illegal gambling market:
“Having the support of the Central Bank, the Secretariat of Prizes and Betting (SPA), and the relevant authorities to strengthen oversight and provide more information to combat the illegal market is essential. Pix is undoubtedly a very powerful tool in this effort,” he said.
Pix has been boosted by the widespread adoption of the network within the iGaming industry, which has continued to grow, now at levels of around 65%.
The continued trajectory of the adoption rate of Pix has evolved the overall payment journey in Brazilian iGaming.
Rony Silva, Technology Director at Aposta Ganha Loterias, also provided an analysis of the betting landscape before regulation in Brazil, noting that the impact of the new compliance requirements on the user experience has been significant.
He explained that Aposta Ganha has continuously aimed for a simple and efficient payment process by eliminating unnecessary steps and maintaining an intuitive onboarding experience. With the introduction of the new regulatory framework and expanded registration requirements, the company’s strategy has been to minimise the impact of these changes on players.
Silva noted that many international operators continued to request information that is unnecessary for processing transactions, such as bank branch codes – details that users often do not know. In his opinion, these requirements create unnecessary friction in the customer experience and ultimately weaken the relationship between operators and players.
The battle against the black market in Brazil has continued to intensify in recent years, with a major cross-state coordinated investigation into an illegal gambling ring being undertaken by the authorities in the country.
According to the FRS, authorities have so far executed a total of 14 search warrants across the three states, resulting in the seizure of passports, documents, electronic devices, firearms, and around R$30k (£4.3k) in cash.
The enforcement action underpins the scale of the networks that run the black market infrastructure, providing a continued challenge for the growth of the regulated sector.
Meanwhile, it’s clear that the adoption of Pix continues to act as a hallmark of the regulated sector and acts as a key flag for consumers seeking to ensure that they do not fall into playing in the black market.
