- Paysafe secures a payment institution licence from the Central Bank of Brazil.
- The company aims to serve Brazil’s growing iGaming sector and broader eCommerce market.
What happened: Paysafe enters Brazil’s iGaming sector with Central Bank licence
Paysafe, a global payments technology leader, has received a payment institution (PI) licence from the Central Bank of Brazil (BCB). This regulatory milestone marks Paysafe’s official entry into Brazil’s rapidly growing iGaming market, which includes online sports betting and gambling.
Brazil is expected to become the largest regulated iGaming market in Latin America, with a forecasted sports-betting turnover of $34 billion by 2028.
This licence allows Paysafe to leverage its extensive expertise in regulated markets, including Argentina, Colombia, Mexico, and Peru. Beyond gaming, the company plans to offer tailored payment solutions to other Brazilian eCommerce sectors such as travel and entertainment.
Paysafe Chief Revenue Officer Rob Gatto emphasised the company’s readiness to support local operators and merchants with advanced payment capabilities, positioning Brazil as a crucial hub in Paysafe’s Latin American expansion strategy.
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Why it’s important
Brazil’s regulated iGaming market is poised for massive growth, driven by its population of over 212 million and increasing digital adoption. With its new PI licence, Paysafe can play a pivotal role in transforming the sector by providing streamlined and secure payment solutions tailored to Brazilian consumers’ preferences.
This development also reflects a broader trend in Latin America, where iGaming regulation is becoming more standardised, fostering investment and innovation.
Paysafe’s proven success in over 90 regulated iGaming jurisdictions underscores its potential to shape Brazil’s digital economy. Rob Gatto described this expansion as a milestone for both Latin American and global gaming markets, with Brazil emerging as the third-largest betting jurisdiction worldwide.
For eCommerce players, Paysafe’s entry is a signal of confidence in Brazil’s growing digital payment ecosystem, unlocking further opportunities in the region.
