Nuvei set to obtain licence in Brazil with proposed acquisition of Pay2All

Acquisition Agreement: Canadian payments processor Nuvei has agreed to acquire Pay2All to strengthen its position in the Brazilian payments market.
Regulatory Authorization: Pay2All has been authorized as a payment institution by the Central Bank of Brazil since 2022.
Operational Capabilities: The acquisition will enable Nuvei to operate in Brazil as an issuer of electronic currency, which includes payment acceptance, e-wallet and betting account management, and processing of Pix transactions.
Market Focus: Nuvei sees significant growth opportunities in Brazil’s $1.97 billion i-gaming market, which the acquisition is expected to support.
Strategic Importance: Nuvei’s CEO, Philip Fayer, emphasizes that acquiring a payment institution license in Brazil is a top priority and critical for providing localized payment solutions in the country.
Expansion in LATAM: The acquisition is part of Nuvei’s broader strategy to expand in the LATAM region, following its launch of direct local acquiring in Colombia and plans to expand into Mexico.
APAC Expansion: Nuvei is also expanding in the APAC region, having secured a major payment institution (MPI) license from the Monetary Authority of Singapore in April.
Upcoming Acquisition: Nuvei itself is set to be acquired by US private equity firm Advent International in a $6.3 billion deal, highlighting its ongoing growth and strategic positioning.