back Back

Nuvei to acquire igaming & sports wagering payment provider Mazooma for $315 mn

By Pavithra R

April 19, 2021

  • Canada
  • Nuvei
Share

Nuvei to acquire igaming & sports wagering payment provider Mazooma for $315 mnNuvei, the global payment technology partner of thriving brands, has announced entering into a definitive agreement to acquire Mazooma Technical Services, a U.S. focused gaming and sports wagering payment technology provider for approximately $315 mn.

Mazooma is a payments technology company on a mission to simplify payments. It is registered with FinCEN and regulated as a money transmitter by various U.S. state banking departments. The firm is a leading account-to-account payments provider in U.S. online gaming and sports betting and is a registered vendor in 9 states, with permission in 12 states. Its Instant Bank Transfer payment solution features same-day Automated Clearing House (ACH) for pay-ins and payouts; and through a collaboration with Plaid, is connected to 11,000 FIs in the U.S.

Mazooma is integrated with the majority of U.S. gaming platforms and online gaming and sports betting operators and is expected to process more than $2 bn of ACH total volume in 2021.

“Mazooma will enhance and expand Nuvei’s portfolio of alternative payment methods with a leading ACH platform with both pay-in and pay-out functionality, developed and used exclusively for online gaming in the U.S. Because of low credit card acceptance rates, ACH is a must-have capability and solution in payments for online gaming and sports betting operators today. Additionally, this acquisition will not only give Nuvei the necessary product functionality, but also the vendor registration, compliance, and operational infrastructure to address merchant’s requirements in any regulated U.S. state. This acquisition will truly solidify our commitment to and presence in the U.S. online gaming and sports betting industry,” said Philip Fayer, Nuvei’s chair and CEO.

Established in 2003, Nuvei is an electronic payment processing company. Its proprietary platform offers direct connections to all major payment card schemes worldwide, supports over 450 local and alternative payment methods and 150 currencies.

Previous Article

April 19, 2021

Starling secures £50 mn investment from Goldman Sachs Growth Equity

Read More
Next Article

April 19, 2021

Banking Circle and Safenetpay to enhance cross border payments

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

Canada

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

March 01, 2024

Hecto Financial eases cross-border transactions with new solution

Read More

March 01, 2024

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

March 01, 2024

Viva.com activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023