Brazil’s new Novo Desenrola debt renegotiation program has brought renewed attention to the use of Pix credit for online betting deposits, after the provisional measure creating the program barred “credit operations directly linked to the transfer of funds for placing bets.”
The program was launched by the federal government in May. Article 16 of the measure seeks to close a payment loophole that allows bettors to use credit-linked Pix transfers to place money on betting sites, reports BNL Data. However, the text does not specifically mention Pix credit because the product is not regulated by the Central Bank or the government.
The restriction comes as 80.4% of Brazilian families are in debt, according to the…