For the first time Non-Brazilian igaming companies can have local bank accounts in brazil to receive and send funds to players. (Solution is suitable for all the foreign companies in every industry)
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Brazilian Bank Accounts for Non-Brazilian iGaming Companies
1. Brazilian Bank accounts for iGaming
For the first time Non-Brazilian igaming companies can have local
bank accounts in brazil to receive and send funds to players.
2. Key Features
Dedicated Bank
Account
A segregated Bank
account in Brazil for
the use of the igaming
Company
C2B/B2C/B2B
Payments
Receive and send
funds to players (pay-
in and Pay-out)
International
Settlement
Funds can be settled
anywhere In the world
in USD/EURO with mid
market rate exchange
fees.
3. General and Basic Conditions
•
•
•
•
•
•
•
3% for inbound payments (Pay in);
2% + 10 BRL (per transaction) for outbound payments (Local Payout);
3.5% for any foreign remittance + currency conversion to USD/EUR (Transfers to
iGaming Companies account outside of Brazil).
iGaming Companies must share all KYC/AML docs of any Brazilian customer;
We are responsible for all kind of taxes in Brazil;
We will provide a dedicated and exclusive Bank account for this deal;
We will provide an API/dashboard to iGaming Companies as a “Viewer” into
the Bank account;
4. General and Basic Conditions (cont.)
•
•
• We will remit any outstanding balance held in the Brazilian Bank account by
redeeming BRZ Tokens.
In case of settlements, FIAT international wire transfers (SWIFT) or
cryptocurrencies can be used, always observing and respecting the most
favourable market conditions for both parties;
In case of any Payout, if the Brazil dedicated bank account does not have
enough funds to cover customer’s request (in the event there are more payouts
than payin at some point), iGaming Companies shall mutually agree upon
settlement terms;
5. Pay-in Flow
1
Brazilian Customer
wishes to deposit to his
iGaming account.
BRL 1,000.00
2
iGaming Co.
informs the Bank
details for deposits
in Brazilian Reais.
This Bank account
belongs to B2BPay
Payments
Brazilian
Bank Account
BRL
1,000.00
3
Client does a
wire transfer to
the informed
Bank account.
4
API shows the payment to
iGaming Co. and B2BPay sends
BRZ Tokens to iGaming Co. Wallet.
API
5
iGaming Co. credits
BRZ Tokens to the
Customer in his
account.
BRZ
970
6. 1
Brazilian Customer
requests a BRZ
withdrawal from his
iGaming Co.account.
2
Platform asks him for
his Bank Details,
including his Tax ID
Number (CPF).
3
iGaming Co. informs
B2BPay about the
withdrawal requestwith
Customer’s full name,
amount and Bank details.
4
iGaming Co. sends BRZ
Tokens to B2B Pay for
burning.
5
B2B Pay pays the Brazilian
Customer subtracting the
2% + a flat BRL 10.00 Bank
Fee.
6
iGaming Co. will be able to
verify the transfer via API
Brazilian Customer’s
Bank Account
BRZ 1,000.00
Pay-out Flow
Bank: Name
Agency: 0000
Account Nº:
12345-0
CPF:
999.999.999-00
Bank: Name
@Agency: 0000
Account Nº:
12345-0
CPF:999.999.999-00
Brazilian
Bank AccountAPI
7. Settlement Flow
The BRL collateral is
transferred toiGaming
Co.’s foreign Bank
account in USD or EUR.
3
iGaming Co.’s
Bank Account
1
iGaming Co. has an
outstanding balance of
BRZ Tokens.
BRZ 432,000.00
aprox. USD 100,000.00
2
iGaming Co. sends BRZ
Tokens to B2B Pay for
redemption.
BRZ
432,000
B2B Pay’s
BRZ Wallet
The amount is
transferred
deducting the
3.5%
remittance fee.
8. Feel free to ask your questions to
brazilln@b2bpay.co