The IBIA or International Betting Integrity Association has established the Payment Provider Forum in Brazil. This is in an effort to help discuss financial fraud in sports betting.
The initiative aims to safeguard the integrity of the country’s sports betting market. The industry is rapidly expanding under new regulations.
This forum includes six payment providers who have all signed a Declaration of Commitment and Participation. These are Bazk, Z.ro, Bank, OneKey Payments, OKTO, VPag, and Pay4Fun.
The Payment Provider Forum fosters partnerships between financial services, regulatory bodies, and betting operators.
The forum organizers will invite regulatory authorities and other financial institutions to participate in meetings. This helps to develop, as well as implement measures to stop fraudulent activities.
The IBIA celebrates its 20th anniversary this 2025. It will contribute its extensive expertise in monitoring betting integrity. This includes utilizing its global network of betting operators and regulatory partnerships.
The association has a proven track record of setting industry standards. This includes the establishment of the Data Standards Kitemark.
The new initiative aligns with IBIA’s broader strategy of cross-sector partnerships. Its goal is to create a secure and well-regulated betting market.
Forum participants have agreed to numerous key principles as part of their commitment.
We develop best practices for payment processing and engage with regulatory bodies to ensure a fair and robust framework.
We promote responsible gambling, share knowledge to improve the payments ecosystem, and uphold high ethical and compliance standards.
The Payment Provider Forum will hold its first meeting during the SBC Summit in Rio on February 25-27. This provides an opportunity for more financial institutions, as well as payment providers to join the effort against financial fraud in sports betting.
IBIA encourages further partnerships, emphasizing that a secure and trustworthy betting market benefits all stakeholders.
Analysts project substantial growth for the Brazilian sports betting market. Forecasts indicate a potential turnover of $34 billion by 2028.
