Six igaming payment providers have signed up to a new Payment Provider Forum for the Brazilian online gaming market.
The International Betting Integrity Association (IBIA) says Okto, OneKey Payments, VPag, Pay4Fun, Bazk and Z.ro bank have all signed a Declaration of Commitment and Participation to the forum.
It will look to protect the newly regulated market from financial fraud related to competition manipulation.
Stakeholders such as regulators and those involved with payments and competition manipulation will be able to join forum meetings.
The forum will also make use of the IBIA’s global integrity monitoring and data intelligence network of worldwide operators.
Khalid Ali, CEO at IBIA, said: "Cooperation between financial services, regulatory authorities and betting operators is essential to address the challenges from financial fraud and to maximise the potential of the sector in Brazil.
“IBIA is therefore delighted that these major payment institutions have agreed to explore collaborative activities to protect the market. Working together, we can create a sustainable and thriving sports betting market in Brazil that benefits all stakeholders.
“Cross-sector partnership working is a central pillar of IBIA’s global activity, and the association will be assessing the potential benefits of replicating this group in a wider international setting.”
