Nuvei, the payment tech company, just announced it’s acquiring Pay2All, a Brazilian payment processor authorized by the country’s Central Bank. This is part of Nuvei’s plan to grow globally and strengthen its presence across Latin America.
By acquiring Pay2All, Nuvei gains the ability to offer payment services in Brazil – think processing transactions, managing digital wallets, and integrating with PIX, Brazil’s wildly popular instant payment system that's very popular.
With Brazil’s online gambling industry booming – expected to hit nearly $2 billion by 2024 – Nuvei is positioning itself to be the go-to payment partner for gambling and e-commerce companies there. You could say they’re making a major move into the market.
Nuvei’s CEO Philip Fayer is excited about the acquisition, saying that getting regulatory approval to operate in Brazil has been a top priority for them. This deal is an important step in expanding in Latin America and shows their commitment to providing tailored, modern payment solutions for Brazilian businesses. They look forward to leveraging our full range of services to help the fast-growing e-commerce and gambling sites operating in this dynamic market.
The acquisition still needs approval from Brazil’s Central Bank and antitrust authorities. Last year, Nuvei made waves with its $1.3 billion all-cash deal for Paya Holdings, as part of its ambitious growth strategy – they’re serious about expansion.
In summary, Nuvei has made a strategic play to establish itself in Brazil’s high-growth digital payments space. It’ll be interesting to see if Brazilian companies embrace the services Nuvei is offering as it continues expanding across Latin America. This will be one to watch.
Editor-in-chief and creator Cole Smith of casinocurrencies.com, has extensive experience with casino payment systems, The site was created to provide an honest and trustworthy resource for online gambling players.