PayBrokers, New Associate Member of Cibelae

Buenos Aires, Argentina (May 31, 2023) — During the Board of Directors meeting held by the Ibero-American Corporation of State Lotteries and Gambling (Cibelae) on March 22 in Rio de Janeiro, Brazil, the incorporation of PayBrokers as an associate member of the corporation was approved.

PayBrokers is an eFX (international transaction and payment service provider) focused on the high-risk market, especially gaming and betting, which processes payments through the PIX payment method. Currently, PayBrokers collaborates with more than 400 merchants, managing more than 1.5 million transactions daily.

As of 2023, PayBrokers has started to expand its operations to the lottery segment. Recently, it has signed an exclusive and official payment contract with Lottopar (Loteria do Estado do Paraná – Brazil).

PayBrokers is also implementing other payment methods, such as credit and debit cards, to serve other Latin American lotteries that do not have PIX. This expansion contributes significantly to the prevention of money laundering and promotes responsible gambling.

By joining Cibelae as an associate member, PayBrokers 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.

SOURCE: Cibelae