Paysafe Secures License for Brazilian Sports Betting

Paysafe has secured a payment institution (PI) license from the Central Bank of Brazil, enabling it to enter the burgeoning regulated online sports-betting and iGaming market. This expansion positions Paysafe to leverage its existing partnerships with international operators, offering payment solutions tailored for Brazilian users, including established digital wallets like Skrill and NETELLER, as well as alternative payment methods via SafetyPay. Brazil, with a population of 212 million and an expected sports-betting turnover of $34 billion by 2028, is anticipated to become the largest market in Latin America for iGaming. The company aims to support not only the iGaming sector but also eCommerce, travel, and entertainment industries in Brazil. Chief Revenue Officer Rob Gatto emphasized Paysafe's commitment to enhancing payment solutions and operational efficiency for local merchants. This strategic move follows Paysafe's recent membership in the Brazilian Association of Fintechs (ABFintechs).