Paysafe has received approval from the Central Bank of Brazil (BCB) for a payment institution (PI) license, marking a significant step for its expansion in Latin America. This license permits Paysafe to broaden its payment partnerships with iGaming operators in Brazil, coinciding with the country's launch of its regulated online sports-betting and gambling market.
The approval also enables Paysafe to support Brazilian merchants across various other eCommerce industries with its payment solutions. This strategic entry strengthens Paysafe's footprint in the Latin American iGaming market, where it already operates in over 90 regulated jurisdictions.
Paysafe plans to offer its digital wallets, Skrill and NETELLER, specifically tailored for the iGaming sector in Brazil. This move positions the company to capitalize on the substantial growth opportunities within Brazil's digital commerce and regulated gambling landscape.
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