Nuvei Acquires Pay2All in Brazil, Expanding in LatAm Region

07 Aug, 2024

Nuvei Acquires Pay2All in Brazil, Expanding in LatAm Region

Nuvei Corporation has announced its agreement to acquire Pay2All, a licensed payment institution in Brazil. This acquisition aligns with recent regulatory changes in Brazil, which now require payment institutions to have authorization from the Central Bank of Brazil. With Pay2All’s authorization, Nuvei will be able to offer payment services and manage betting accounts in the Brazilian market. The deal is still pending regulatory approvals from the Central Bank but is expected to position Nuvei as a key player ahead of the anticipated legal market launch on January 1, 2025.

This acquisition marks a significant step in Nuvei’s Latin American expansion strategy. Earlier this year, Nuvei became the first global payments company in Colombia to offer direct local acquiring and is also launching a similar service in Mexico. The acquisition of Pay2All strengthens Nuvei’s presence in Brazil and underscores its commitment to providing localized payment solutions for the growing e-commerce and iGaming sectors in the region.

The Brazilian market is evolving rapidly, with high regulatory costs potentially leading to a wave of mergers and acquisitions. Economist Adam Patterson predicts increased M&A activity driven by these regulatory fees and technical requirements. As Brazil moves closer to a legal gambling market, Nuvei’s strategic acquisition aims to capitalize on the emerging opportunities in this dynamic environment.