Payment methods in Brazil: PIX, cards, cryptocurrencies - how to accept payments legally and with high conversion

1) Market Picture: Why PIX # 1

In the four years since its launch (November 2020), PIX has become the main payment method in the country: the Central Bank has recorded records of more than 250.5 million transactions per day and trillions of dollars per month; PIX is ahead of cash, debit and credit cards in coverage. The central bank maintains official statistics and a public data mart on PIX volumes and users.

Key benefits for iGaming merchants and operators:

instant enrollment 24/7, low fee;
unified infrastructure through licensed participants (banks/fintechs), QR and "keys" (telephone, e-mail, CPF/CNPJ);
high conversion on mobile, coverage of "uncredited" users (without a credit card).

2) What's new in PIX in 2025

Pix Automático - auto-signing by customer consent for subscriptions/accounts (launch announced on June 16, 2025). It is an alternative to the banking autodebet/boletos; a strong effect on e-commerce and subscriptions is expected.

Pix Parcelado - installments within the PIX (the recipient receives the entire amount at once, the payer pays in installments). The central bank announced the launch for September 2025; the function is able to compete with credit cards in large checks.

💡 For iGaming, this is important: Pix Automático increases retention on subscription products (such as fantasy/content subscriptions), and Pix Parcelado will potentially expand the average check in legal verticals. However, they can only be used within the framework of the methods of accepting payments for betting allowed by the regulator (see below).

3) Bank cards: Visa/Mastercard/Elo and "parcelado"

The card market remains large: Mastercard ~ 51%, Visa ~ 31%, local Elo scheme ~ 14% (joint venture Banco do Brasil, Bradesco, Caixa; global acquiring compatibility via Discover). The installment plan parcelado (often without interest for the client), on which retail has traditionally relied, is culturally important.

For betting operators: although cards are strong in retail, their use is limited for betting: see the section on SPA/MF standards.

4) Cryptocurrencies: legal status and payments

Law 14. 478/2022 ("Legal Framework for Crypto Assets") secured the regulation of the crypto service and determined the powers; in 2023 by decree 11. The Central Bank of Brazil was appointed 563 regulator of VASP, and in 2025 it continued to detail the rules (including on stablecoins and exchanges). This has strengthened the requirements for providers and increases confidence in the market as an investment/payment segment as a whole.

💡 Important: Having common crypto rules doesn't mean crypto payments are allowed in every industry. For betting, separate norms apply (see below), where crypto deposits/conclusions are directly limited.

5) What's legal for betting and online gaming (Brazil, 2024-2025)

Legal foundation: Act 14. 790/2023 on fixed odds rates (apostas de quota fixa) and subsequent orders of the Ministry of Finance/Secretariat for Prizes and Rates (SPA/MF), which form the authorization procedure, KYC/AML and settlement rules.

Key payment requirements SPA/MF (2024-2025):

Only electronic bank transfers between the player's account and the operator's account at institutions authorized by the Central Bank are allowed: PIX, TED, debit/prepaid cards, intrabank transfers (book transfer).
Prohibited for betting: credit cards, cash, crypto assets, checks, boletos and other uncontrolled instruments.
Payouts of winnings - in strict terms (a number of norms indicate a maximum of 120 minutes after the event/session).
Transfers between players are prohibited; deposits/withdrawals are allowed only to/from the player's registered bank account (closed circuit).
These requirements are enshrined in the Normative Ordinance SPA/MF # 615/2024 and subsequent clarifications/reviews.

Since 2024, SPA/MF has also published authorization regulations (for example, Ordinance No. 827/2024 with deadlines until December 31, 2024 and operating hours from January 1, 2025), and in 2025 - the regulatory agenda for 2025-2026. (control and development priorities).

Conclusion: for legal betting in Brazil, crypto deposits and credit cards are out of the rules; in practice, the market is reduced to PIX/TED/debit/prepaid with hard KYC and time-slime payments.

6) Practical integration for operators/merchants

A. PIX (must-have):

Connect through a bank/fintech provider authorized by the Central Bank.
Support dynamic QR (Pix Cobrança) for one-time payments and static QR for quick re-deposits.
Implement Pix Devolução for returns and limits/fraud triggers (given recent attack cases on third-party ecosystem integrators).

B. TED/Intrabank:

Used as backup channel for high-value payouts/deposits or when the PIX is temporarily unavailable.

C. Cards (debit/prepaid) for betting:

Allowed under SPA/MF as "electronic transfer," but credit - prohibited. Check with the acquirer for MCC marks and blocks for gambling to avoid failures.

D. Subscriptions/re-debits:

For negembling or additional services - plan Pix Automático (after launch 16. 06. 2025). For betting - check the current SPA/MF offers so that the auto schedules comply with the rules for betting.

E. Installments:

Keep an eye on the Pix Parcelado pilot (September 2025). In the vertical of betting, the application will depend on the final norms: installments should not mask lending to the game.

7) UX and conversion (which works in Brazil)

First screen - PIX: maximum conversion in mobile, minimum cognitive barrier.

KYC steps before the deposit are short, with CPF checking and name verification for the "closed loop" (to avoid SPA/MF failures).

Payments through the PIX ≤120 minutes after calculating the event: use it as a marketing feature (quick conclusions).

Elo local card (debit/prepaid) - as a fallback method, but not the main one for betting.

8) Compliance and risks

AML/sanctions/KYC: strict accounting of the source of funds, comparison of bank details and player profile, logging of PIX/TED transactions.

Limited categories of players: SPA/MF in 2025 strengthened protection (for example, a ban on beneficiaries of social programs to register/play). We need automatic checks.

Ecosystem incidents: even with high PIX security, risks for connected providers (social engineering/compromise) are possible. Establish monitoring and response plan.

9) Brazil Payment Acceptance Checklist (2025)

1. Connect PIX via bank/fintech with Central Bank authorization; enable QR and copy-paste key.

2. Include TED/intrabank as reserve.

3. Disable credit cards, cryptocurrencies, boletos for betting (strict ban).

4. SLA for payments - to maintain the standard (up to ~ 120 minutes).

5. CCL/closed circuit: deposits/withdrawals only from/to the player's account; auto-rejection of third parties.

6. Prepare for Pix Automático (subscriptions) and Pix Parcelado (installments) in permitted scenarios.

10) The bottom line

Brazil is one of the most "digital-first" payment markets in the world. It is critical for e-commerce to give the PIX user as the main method; for iGaming in 2025, the legal stack is PIX/TED/debit/prepaid in a "closed loop" and fast SPA/MF payments. Cryptocurrencies are generally regulated (Law 14. 478/2022), but for bets - prohibited along with credit cards and cash. Watch the deployment of Pix Automático and Pix Parcelado to catch additional conversion growth - strictly within the boundaries of regulatory rules.

Note: normative dates in the text are given as of October 11, 2025 (Europe/Kyiv).