GMB – BiS SiGMA is finally here in its fifth edition. How do you see the show?
Leonardo Baptista – It’s amazing! We always look forward to this event, especially because we’re playing at home. It’s different. We’re from São Paulo, and being here gives it a special feeling. BiS SiGMA holds a unique place in our hearts. We attend events around the world, but this one has a special atmosphere.
How has the event so far? Lots of deals, new developments?
The event has grown a lot in terms of space — it’s bigger than last year. The number of attendees is about the same, but the volume of business has definitely increased. Our booth has been packed — I haven’t stopped for a second! There’s a lot of global interest in Brazil right now, especially with the new regulation. The rules are clear, which brings in more investment and new technologies.
What are the latest updates from Pay4Fun? What are you showcasing?
We’re presenting several new technologies. Pix is already well-known, but now we have Pix ITP, Pix with biometrics, recurring payments... All of these significantly enhance the user experience.
To give you an idea: while a regular Pix transaction takes about 40 seconds, Pix ITP completes it in just 5 seconds. That’s a huge upgrade for both operators and users. And since we’re directly integrated with the Central Bank, we’re able to deliver these innovations before anyone else.
How do you view partnerships between operators, payment providers, and tech suppliers?
I have a strong opinion on that. I’ve been on the operator side, so I understand both perspectives. I believe each player should focus on their core expertise. A payment provider shouldn’t offer KYC solutions or affiliate programs, for example.
That creates conflicts of interest and technological dependency. If your payment provider also handles KYC and it goes down, your entire operation is at risk. I’m against exclusivity agreements. I always recommend working with two or three payment providers. Partnerships are important, but everyone should stick to their strengths.
What’s your take on tackling unregulated operators?
It has to be a joint effort — payment providers, operators, the SPA, the Central Bank… But above all, it requires reports from the market and firm action from the regulator. Taking down a website isn’t enough. The real impact comes when you cut off the payment method. Today, 99.99% of transactions are through Pix.
If you cut off Pix access, you shut down the illegal operation. SPA is doing its part and recently issued a new regulation focused on this. But let’s remember — we’ve only had four months of regulated market. It will take time. Those who paid R$35 million for a license want results. We can’t allow the illegal market to keep profiting billions per month.
How was the first quarter of 2025 for Pay4Fun?
It was great. The last quarter of 2024 was really tough — in October, due to the regulatory uncertainty, we had to shut everything down. But starting in January, with clear rules in place, everything changed. Many new partners came to work with us.
Now we’re in expansion mode, looking at e-commerce, tourism, and new countries. We already have partnerships in place to operate strongly in Argentina and Mexico by the end of the year. We’re also ready for the physical market in Brazil, as our Pix solution for land-based casinos is already developed.
Source: Exclusive GMB
