- Acquisition Agreement: Canadian payments processor Nuvei has agreed to acquire Pay2All to strengthen its position in the Brazilian payments market.
- Regulatory Authorization: Pay2All has been authorized as a payment institution by the Central Bank of Brazil since 2022.
- Operational Capabilities: The acquisition will enable Nuvei to operate in Brazil as an issuer of electronic currency, which includes payment acceptance, e-wallet and betting account management, and processing of Pix transactions.
- Market Focus: Nuvei sees significant growth opportunities in Brazil’s $1.97 billion i-gaming market, which the acquisition is expected to support.
- Strategic Importance: Nuvei’s CEO, Philip Fayer, emphasizes that acquiring a payment institution license in Brazil is a top priority and critical for providing localized payment solutions in the country.
- Expansion in LATAM: The acquisition is part of Nuvei’s broader strategy to expand in the LATAM region, following its launch of direct local acquiring in Colombia and plans to expand into Mexico.
- APAC Expansion: Nuvei is also expanding in the APAC region, having secured a major payment institution (MPI) license from the Monetary Authority of Singapore in April.
- Upcoming Acquisition: Nuvei itself is set to be acquired by US private equity firm Advent International in a $6.3 billion deal, highlighting its ongoing growth and strategic positioning.
