IBIA launches Payment Provider Forum to bolster Brazil’s betting market integrity

The International Betting Integrity Association (IBIA) has launched a Payment Provider Forum to help prevent financial fraud in Brazil’s growing sports betting market.

Six major payment providers—Bazk, Z.ro Bank, OneKey Payments, OKTO, VPag, and Pay4Fun—have signed a Declaration of Commitment and Participation to support the initiative.

With IBIA members expected to generate over 70% of Brazil’s remote gambling revenue, the forum vows to work with financial institutions and regulators to combat fraud and ensure market integrity. 

Additionally, the forum will leverage IBIA’s global expertise in monitoring sports betting integrity, drawing insights from its data intelligence network. This includes partnerships with major betting operators across six continents and collaborations with sports organizations and gambling regulators. 

The initiative will also benefit from IBIA’s industry standards, such as its Data Standards Kitemark, which promotes responsible and transparent betting practices.

IBIA CEO Khalid Ali remarked the importance of cross-sector collaboration, stating that cooperation between financial services, regulatory authorities, and betting operators is essential to tackling financial fraud and maximizing the potential of Brazil’s market.

“IBIA is delighted that these major payment institutions have agreed to explore collaborative activities to protect the market,” he said. “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,” the chief executive added.

The signatories commit to developing payment processing standards, working with regulators to ensure a fair framework, promoting responsible gambling, improving the payments ecosystem, and maintaining strict ethical and regulatory compliance.

The forum’s first meeting will be held at SBC Rio, to be held February 25-27 at the Riocentro venue in Rio de Janeiro, Brazil.