AML PIX solution (AML QR Code) is CommerceGate’s unique solution that enables merchants to create QR codes for specific CPFs (Brazilian Tax IDs), ensuring control over payments and guaranteeing that they come from individuals verified by your team, while providing full flexibility in its use.
Brazil has spearheaded banking modernization in the LATAM region and set a high benchmark for the world to follow. Leveraging cutting-edge technologies, it laid the foundation of open banking, CBDCs, and instant digital payments. Plus, Brazil’s central bank and other regulatory bodies have established capital reserve requirements well beyond international standards. This means that Brazilian banks have a robust financial buffer, protecting them against economic shocks.
PIX is the most popular digital payment mechanism in the country because it offers businesses a means to support intuitive transactions, enhancing customer experience.
Do iGaming Businesses Need PIX Integration?
While the sports-loving nation offers abundant opportunities for any iGaming operators, it is crucial to optimize payment solutions to be compliant with the nation’s AML guidelines. This is exactly what CommerceGate’s AML PIX Solution offers.
PIX is a digital payment method, launched by the Central Bank of Brazil. It has eased money movement across the country and has grown to become the most popular local method of digital payment.
PIX is designed with open application programming interfaces (APIs), which simplify integration across disparate digital systems. APIs make PIX integration easy and scalable. Moreover, the mechanism eliminates the need to manage complex payment flows and collecting and maintaining user details.
Most importantly, it empowers you to deliver the same seamless day-to-day transaction experience that Brazilians have grown accustomed to.
How Can CommerceGate Help You?
CommerceGate’s core expertise lies in providing iGaming businesses and e-commerce platforms the flexibility of multiple payment methods, optimized for a single connection. This creates a unique point of integration that enables merchants to:
- Efficiently incorporate payments into diverse processes and scenarios.
- Seamlessly support their policies, such as AML, KYC, multi-factor authentication, and fraud prevention, without operational overheads.
- Lock Tax IDs with PIX Payments.
AML PIX solution (AML QR Code) is CommerceGate’s unique solution that enables merchants to create QR codes for specific CPFs (Brazilian Tax IDs), ensuring control over payments and guaranteeing that they come from individuals verified by your team, while providing full flexibility in its use.
This feature allows you to transmit the user’s CPF to CommerceGate and, with an additional parameter, decide whether to generate a QR code specifically for your validated customer. This QR code can be paid from any bank account, but only if the account holder has the same CPF that you provided. This gives you complete control and ensures that all payments originate from individuals verified by your team. Thanks to the flexibility of this tool, you gain the ability to determine when and how to use it to achieve maximum efficiency.
At the same time, you give users the ability to withdraw funds to their preferred bank account while retaining control, so that they will not be sent to third parties without your knowledge. This also reduces the number of rejected payouts due to reasons such as PIX key not found.
Together, this helps you control and segment users according to your preference, while making transactions even more convenient and predictable for users. Also, our partners note a decrease in the workload of their anti-fraud teams, a reduction in complaints (and consequently customer support service hours), and an increase in ratings on ReclameAQUI (Brazil’s most famous customer complaint & review portal) which also leads to a reduction for the cost of leads. It also helps increase marketing conversion when used together with the Static QR Code to catch up with cooling customers and motivate them to return to your platform. This positively affects retention and customer lifetime value (CLTV).
In total, operational efficiency increases by up to 13% (based on the experience of CommerceGate’s partners in Brazil).
Adopt CommerceGate’s Unique AML PIX Solution
PIX is a fast, reliable, secure, and affordable payment transfer solution for users and merchants. To stay relevant and competitive in the rapidly evolving Brazilian payments landscape, brands need to instill a sense of affiliation and safety among Brazilian players. Since PIX is deeply embedded in Brazilian life, enabling this mode of payment on your online business helps you enhance the player experience significantly.
In addition, with the recent introduction of Normative Ordinance No. 615 by Brazil’s Ministry of Finance, which aims to enhance transparency and security in betting operations, iGaming businesses face a new set of compliance challenges. By integrating CommerceGate’s AML PIX Solution, our partners not only optimize their payment infrastructure but also demonstrate readiness to navigate the evolving regulatory landscape. This strategic move not only ensures adherence to current AML guidelines but also positions them as frontrunners in embracing forthcoming regulations.
