Canadian FinTech Nuvei has agreed to acquire Pay2All Instituição de Pagamento Ltda (Pay2All) – a licensed Payment Institution authorized by the Central Bank of Brazil.
This acquisition is expected to enhance Nuvei’s capabilities in the Brazilian market and reinforces its commitment to the LATAM region.
The Payment Institution license will enable Nuvei to offer comprehensive payment services in Brazil as an Issuer of Electronic Currency. These include accepting payments, managing e-wallets and betting accounts, and participating in all of Brazil’s local payment systems, including processing Pagamentos Instantâneos (PIX) transactions.
By securing a Payment Institution license, Nuvei will also be well positioned as a payment partner of choice to the iGaming and broader eCommerce ecosystems in Brazil.
The proposed transaction is subject to customary closing conditions, including receipt of key regulatory approvals by the Central Bank of Brazil and local antitrust authorities.
Philip Fayer, Nuvei Chair and CEO, said: “The proposed transaction not only strengthens our presence in LATAM but also demonstrates our commitment to providing fully localized and modern payment solutions to businesses in Brazil.”
In 2024, Nuvei already signaled its commitment to growth in LATAM through its announcement that it was the first global payments company to offer direct local acquiring in Colombia.
Nuvei is also currently implementing a local acquiring service in Mexico.