Supplier News

Brazil – OKTO’s U4C company receives authorisation from Paraiba Lottery

By William - 5 March 2024

OKTO’s strategic portfolio company, U4C has been authorised to process payments in the Paraiba Lottery.

Following the strategic investment, the Paraiba Lottery cements the group’s preparedness for the evolving regulatory framework in the betting landscape and authorises the company to facilitate payments for the lottery service in Paraíba, encompassing state sports betting.

U4C is a registered payment institution authorised by the Central Bank and has earned acclaim for its Pix solutions and is among the pioneers authorised to operate with the Payment Transaction Initiator (ITP).

Leonardo Chaves, OKTO’s Country Manager Brazil, commented “As OKTO strengthens its presence in Brazil, we recognise the unique challenges of the market and embrace regulatory readiness to ensure compliance and responsible practices.

“With Brazil transitioning towards a regulated betting environment, OKTO is well-prepared to navigate this landscape, leveraging its expertise and the capabilities of its strategic portfolio company, U4C that has been granted payment processing rights in Paraiba Lottery.”

Tulio Ianni, CEO of U4C added: ” We are thrilled to announce our authorisation to process payments for the Paraiba Lottery, a significant milestone that highlights our shared commitment with OKTO to innovation and regulatory compliance.

“We look forward to leveraging this authorisation to provide excellent payment experiences for the Paraiba Lottery while staying updated with the evolving regulatory landscape.”

OKTO’s team is set to share further details at SBC Rio, scheduled from March 5-7, and will showcase its latest innovative payment lineup for Brazil and Latin America at SIGMA Americas 2025, taking place from April 23 to 25 at stand J50.