Caixa Econômica Federal has announced a contract extension with ecommerce specialist, Mercado Pago for online lottery payment and bets on electronic channels services.
The news reported in Brazil’s Official Gazette establishes that the extension will last for a full year, from 13 May, 2020, to 12 May, 2021, in a deal worth $2.8 million. According to Games Magazine Brasil, the agreement renewal was signed this week
Mercado Pago specializes in secure trading and has been united with Caixa’s online lottery site since its formation.
Caixa will be seeking to follow up a positive opening year of operations, anticipating a 3% increase in the total volume of lottery bets placed. Vendors will also receive part of the revenues obtained from online sales.
The bettors registered in Mercado Pago can exchange prizes worth up to $322 in their accounts. To access this service, the winner only needs to select the winning bet and pick “Mercado Pago” as the payment service, set the email address registered on the platform and confirm the transaction.
In April, the Brazilian Federation of Lottery Companies (FEBRALOT) confirmed receipt of “Lotofácil Improvements”, a new set of proposals written by Caixa Econômica Federal. The state-owned lottery operator from Brazil wants to boost sales to mitigate anticipated losses in March 2020.
Lotofácil’s revenues dropped 21.1% in March due to the pandemic. Under Caixa’s plan, sales could grow 67.2%.
The analysis also showed that there would be an increase in accumulated and total daily prizes, which are estimated to have a positive impact on the commission payment of lottery tickets and a 25.6% increase in ticket sales revenue.
