Nuvei Acquires Pay2All, a Licensed Payment Institution in Brazil

Obtaining a payment institution license in Brazil is critical to providing transaction services in the newly regulated sports betting and online gaming market. It will allow Nuvei to offer a variety of payment services, including payment acceptance, Pagamentos Instantâneos (PIX) transaction processing, and e-wallet and betting account management.

The Brazilian iGaming market represents significant growth opportunities. Revenue in this market is projected to reach US$1.97 billion in 2024, with an expected annual growth rate of 15.39% through 2029. This makes Brazil an attractive market for online gaming and sports betting companies.

The acquisition of Pay2All will position Nuvei as a key payments partner for iGaming and the broader eCommerce ecosystem in Brazil. It will strengthen the company’s position in Latin America and allow it to offer localized and modern payment solutions to businesses.

Philip Fayer, Chairman and CEO of Nuvei, commented on the deal: “Obtaining a payment institution license in Brazil was a top priority for us and will be another important milestone in our global expansion strategy. The proposed transaction not only strengthens our presence in Latin America, but also demonstrates our commitment to providing fully localized and modern payment solutions to businesses in Brazil.”

Fayer also noted that the company is pleased to offer a full range of services to help drive the growth of fast-growing e-commerce and iGaming operators in this dynamic market.

The proposed transaction is subject to customary closing conditions, including approval from the Central Bank of Brazil and local antitrust authorities. This is a standard procedure required to complete such transactions and ensure their legality and transparency.

It is worth noting that this is not the first significant acquisition by Nuvei in recent years. Last year, the company also acquired Paya Holdings, an integrated payment and commerce solutions business, for $1.3 billion in cash. This acquisition strengthened Nuvei’s position in the payment technology market and expanded its capabilities.

The acquisition of Pay2All is a strategic move for Nuvei, which will allow the company to strengthen its position in the dynamically developing Brazilian market. Obtaining a payment institution license and the ability to provide a full range of payment services will open new horizons for the growth and development of Nuvei's business in Latin America. This acquisition underlines the company's commitment to innovation and localized solutions, making it an important player in the global payment technology market.