Latin America
Wplay, Leading Operator of Colombian Online Gaming, Selects Nuvei for Latin American Market Expansion
Nuvei continues to expand global acquiring presence across Latin America with strategic technology agreement
Colombia – Nuvei Corporation (“Nuvei” or the “Company”) (TSX: NVEI and NVEI.U), the payment technology partner of thriving brands, is proud to announce a deal with Wplay, a pioneer of online gaming in Latin America. Nuvei will provide the acquiring platform and technology to power Wplay’s Colombian payment operations and further fuel its expansion throughout Latin America.
Accountable for almost half of all online gaming revenue in Colombia, Wplay has integrated Nuvei’s Cashier. Providing access to more than 450 alternative payment methods, it enables Wplay to offer the options most popular with local gamers and bolster player acquisition and retention with faster, seamless payouts, while providing a frictionless user experience. The integration also allows Wplay to benefit from the Company’s value-added services, including fraud prevention and risk management solutions, through a single connection.
Wplay offers a wide range of betting services on its platform, including casino games, wagers on world events, and a sportsbook of more than 50 traditional sports. As a result of the agreement, users of these diverse services will be depositing and withdrawing their funds through Cashier, a product which reflects Nuvei’s extensive experience in the iGaming industry worldwide. In addition to Visa and Mastercard, users can take advantage of the Company’s wide portfolio of alternative methods that include PSE, Efecty, Baloto. Wplay users will also benefit from the Company’s real-time payout functionality for instant funding.
“Nuvei’s Cashier has proven to convert more, increase acceptance rates, while streamlining deposits and payouts. By accepting local debit and credit cards, plus local alternative payment options, Wplay can provide its users simple access to their preferred payment method,” said Yuval Ziv, Nuvei’s managing director of digital payments. “Further, our integrated risk management solutions and embedded eKYC features for quick player onboarding allow Wplay to maximize revenue while minimizing potential fraud.”
The global online regulated gambling market has experienced a significant surge in recent years, growing at a rate of more than ten percent annually. Operators in Latin America particularly are seeing rapid growth in volumes, with KPMG research reporting that the segment is already worth over US $2.1 billion. Nuvei’s robust platform and industry expertise were key factors as Wplay prepares to further capitalize on the explosive growth of the segment throughout Latin America.
“This agreement with Nuvei will help us maintain the security and ease-of-use of our platform as we scale, upholding the level of service that our customers have come to expect,” said Julio César Tamayo, president of Wplay. “Now that we’re working with a globally-recognized payment partner that can also tailor its service to the needs of our local marketplace, we feel more confident than ever about the future.”
Founded in 2017, Wplay was the first company to receive a license from Colombia’s gaming regulator Coljuegos, and today it boasts more than 1,600,000 users in that country – almost half of the entire market. With 7,000 points of sale throughout Colombia, and sponsorship deals with eight Liga Águila football teams and the national Olympic team, the company’s brand is recognized by 35 million sports fans nationwide.
Latest News
Panel on the benefits of regulation in the Mexican iGaming market
On November 6, the iGaming industry in Mexico is preparing for a key event in which the benefits and challenges that regulation has brought to the Mexican market will be discussed. Under the title “Benefits of Regulation in the Mexican Market”, this panel will offer an in-depth look at the impact of regulation on transparency, competition and consumer protection, critical issues in the new digital era of iGaming.
The event, moderated by Geraldine Alexandra García Torres, Media Manager of Digital Gaming News, will feature the participation of recognized figures in the sector such as Daniel Magariños, representative of BMM Testlabs, and Hermilo Peregrina Cabrera of Prometeo IT Solutions. Both panelists will contribute their extensive knowledge and experience in regulation and certification in the Mexican market, and will analyze with the public the challenges and opportunities that companies face in an increasingly competitive and regulated context.
BMM Testlabs, who will participate as a Gold Sponsor, underlines with its sponsorship the importance of regulation to strengthen the iGaming sector in Mexico and demonstrates its commitment to progress and transparency in the Mexican market. For its part, Kushki joins as a Silver Sponsor, promoting the dialogue and analysis necessary for the industry.
Daniel Magariños, from BMM Testlabs, expressed his enthusiasm for participating in this digital webinar: “It has been a pleasure to be able to share our comments as a Laboratory on a market like the Mexican one and exchange opinions with a reference like Hermilo and the company Prometeo IT Solutions, with its excellent track record in this market. A relaxed talk with a lot of learning that I hope will be interesting for the attendees.”
For his part, Hermilo Peregrina, from Prometeo IT Solutions, highlighted the relevance of these spaces for dialogue: “Thank you to Conferencias iGaming for the invitation to participate in this panel. Thanks to Geraldine for coordinating us, and it was a pleasure to share ideas and opinions with my friend Daniel from BMM Testlabs, who has extensive experience in international regulations and certifications.”
Sponsor Support
The panel has the support of important sponsors who recognize the relevance of regulation in the development of the iGaming market in Mexico. Among them, BMM Testlabs as Gold Sponsor, and Kushki as Silver Sponsor.
Event Details:
Date: November 6
Time: 10:00 a.m. (Mexico)
Registration: Register here
Don’t miss the opportunity to be part of this essential conversation for the future of the industry. Secure your place and access a key analysis on the dynamic iGaming market in Mexico!
Latest News
Brazilian Ministry of Finance and Sportradar Join Forces to Strengthen Integrity of Sports
The Brazilian Ministry of Finance, through the Secretariat of Prizes and Betting, and Sportradar Group AG signed a Technical Cooperation Agreement (ACT) to collaborate activities focused on safeguarding the integrity of the newly regulated sports betting and online gaming region.
The ACT aims to support the technical staff of the Secretariat of Prizes and Betting, given their responsibility at the national level to coordinate the authorization, inspection and sanctioning process of operators that provide online games and sports betting.
Sportradar’s Integrity Services will offer its expertise to the Secretariat, including reporting any suspicious incidents it may identify through its monitoring of the market, as well as providing strategic counsel to address these situations. Additionally, Sportradar will support the ongoing education and training of Secretariat staff on the threat of match-fixing, to enhance their knowledge and understanding of the issue.
Ministry of Finance spokesperson responsible for the partnership, Régis Dudena, Secretary of Prizes and Betting, said: “The partnership with Sportradar will be an important tool to combat a major threat to the fixed-odds betting market, which is the risk of manipulation of sports results.”
Felippe Marchetti, Sportradar’s Manager for Integrity Partnerships in Brazil, said: “The signing of the ACT is a proud occasion for Sportradar and we appreciate the trust shown by the Brazilian Ministry of Finance in the expertise of Sportradar’s Integrity Services division. This ACT reflects a mutual commitment to establish a sustainable, regulated sports betting industry in Brazil that is built upon a foundation of integrity.”
Compliance Updates
Delasport Ready for Brazil Expansion
Award-winning iGaming supplier Delasport has just positioned itself as the most progressive supplier to date by meeting the new Brazilian regulation requirements for Sports Betting and Online Casino. The global technology developer has taken all required measures to comply in terms of certifications, Data vault integration, payment providers, KYC, AML, and much more.
Delasport’s team of over 400 experts worldwide are advancing to deliver its renowned products and services to the Brazilian market. They have partnered with GLI (Gaming Laboratories International) – the leading certification lab approved by the Brazilian Ministry of Finance.
So far, Delasport is fully certified against GLI-33 and GLI-19 – the standards that have inspired regulators in Latin America and likely in Brazil. Additionally, the team is in the process of submitting the platform for certification against Brazilian technical standards. Delasport is also advancing rapidly through data quality testing of its integration with the SIGAP Datavault system.
Key Advantages
Operators that plan on entering the newly regulated Brazilian market will have numerous advantages if they partner with Delasport. They will be able to provide their players with personalization features like My Sportsbook, My Event Builder, My Combo, and My Casino that skyrocket revenues and retention.
Furthermore, Delasport’s KYC and AML provider is a market leader that guarantees the highest level of compliance for all operators that choose to go on this route.
Also, Delasport has already partnered with numerous PIX payment system operators and provides a real-time AI-powered Responsible Gambling system which can easily adapt to local regulations.
Another key advantage is the strong relationship with third-party casino suppliers that will soon be able to provide their exciting portfolios to this thrilling jurisdiction.
Last, but not least, operators will feel Delasport’s support from the get-go all the way to establishing themselves as a market leader. Delasport is knowledgeable of the cultural and regional differences within Brazil and can address all localization needs before they arise.
“Delasport stands on a solid foundation of experience, supplying Tier 1, Tier 2, and Tier 3 operators in highly regulated markets globally”, the company’s CCO Filippo Ferri comments. ‘This makes Delasport fully equipped to assist operators navigating complex platforms or adapting to modern jurisdictional requirements, such as Brazil’s.’
The supplier’s VP of Business Development Rosaire Galea Cavallaro adds: ‘It’s a great privilege to enter such a vast and exciting market with the confidence that we’ve gained at Delasport throughout the years. We’re looking forward to seeing our product in action in a new territory, achieving and maintaining solid margins for our partners, keeping the record of having double digit margins in sports betting and helping them scale with ease in both verticals to generate maximum revenue for their brands.’
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