The Argentinian company Mercado Pago, the payments partner of the national lottery operator in Brazil Loterías Caixa, is reportedly in the process of setting up physical shops to offer cash services to local players.
As Games Magazine Brasil reported, Mercado Pago will process cash deposits and withdrawals for lottery draws, just as it has been doing online since 2020. The first land-based store would be located in São Paulo.
“In order to meet the great demand of its clients, Mercado Pago aims to open physical shops for the new activity and will pursue an agreement with the lottery network to expand coverage,” the specialized local outlet detailed.
After opening the first store, the company would focus on building a network of more than 14k land-based shops throughout the South American country.
According to the VP of Mercado Pago in Brasil, Tulio Oliveira, “this will be a big step to serve customers who make cash transactions.”
“To meet the company’s initiatives, Mercado Pago expects to receive a $3.6bn investment, a resource that will be used for expansion at the end of this year,” Oliveira had detailed in an interview.
Additionally, the expansion would benefit Loterías Caixa lottery vendors, since this would generate extra income generated by charging a percentage of the operations carried out in the registered stores. Although it has not been disclosed by Mercado Pago, the rate would be set by the accredited shop.