Payments platform PayBrokers has now become an associate member of the Ibero-American Corporation of State Lotteries and Gambling (Cibelae) after the decision was approved at the last meeting of the association’s board of directors. The meeting was held in Rio de Janeiro, Brazil on March 22.
PayBrokers is an eFX (international transaction and payment service provider) that focuses on the high-risk market, especially gaming and betting, which processes payments through the PIX payment method. PayBrokers is also currently implementing other payment methods, such as credit and debit cards, to serve other Latin American lotteries that do not have PIX.
By becoming an associate member of Cibilae, PayBrokers notes that it strengthens its position in the Ibero-American market and gains valuable networking opportunities within the lottery and betting industry. “This collaboration is aligned with Cibelae’s objective of promoting innovation and cooperation among its members to improve the quality of lottery and betting services in the region,” said the firm.
As per PayBrokers, it collaborates with over 400 merchants and manages over 1.5 million transactions daily. The company also notes that as of 2023, it has started to expand its operations to the lottery segment. It has signed an exclusive and official payment contract with Lottopar in Brazil, and aims to expand its presence in more lottery organizations both in Brazil and in other Latin American countries.
Founded in 1988, Cibelae describes itself as a non-profit civil association with a regional vocation and global expansion. It is recognized as an associate member of the World Lottery Association (WLA), a significant professional association of state lottery and gaming organizations in over 80 countries in the 6 continents.
Original article: https://www.yogonet.com/international/news/2023/06/01/67374-paybrokers-strengthens-iberoamerican-market-position-as-new-associate-member-of-cibelae
