Nuvei announces acquisition of Pay2All to expand LATAM presence

By Gloria Mathias

Nuvei Corporation, the Canadian FinTech company, has announced that it has entered into a definitive agreement to acquire Pay2All Instituição de Pagamento (Pay2All), a licensed Payment Institution authorised by the Central Bank of Brazil.

This milestone aims to enhance Nuvei’s capabilities in the Brazilian market and reinforce its commitment to the Latin American (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 eWallets and betting accounts, and participating in all of Brazil’s local payment systems, including processing Pagamentos Instantâneos (PIX) transactions.

A Payment Institution license is required to provide transactional services for authorised operators in the newly regulated market of sports betting and online gaming. By securing a Payment Institution license, Nuvei will be well-positioned as a payment partner of choice for the iGaming and broader eCommerce ecosystems in Brazil.

Philip Fayer, Nuvei Chair and CEO shared, “Securing a Payment Institution license in Brazil has been a top priority and will mark another significant milestone in our global expansion strategy. 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. We’re excited to offer our full suite of services to help drive growth for the rapidly growing eCommerce and iGaming operators in this dynamic market.”

In 2024, Nuvei already signalled its commitment to growth in LATAM by announcing that it was the first global payments company to offer direct local acquisition in Colombia. In addition to securing its impending Payment Institution license in Brazil, Nuvei is also currently implementing a local acquiring service in Mexico, leading to the fulfilment of processing requirements to become a direct acquirer under the Comisión Nacional Bancaria y de Valores (CNBV). Further strategic expansion in LATAM is scheduled to follow.