Nuvei Corporation has acquired Pay2All, a licensed Payment Institution in Brazil, to enhance its payment services and expand its presence in the lucrative Latin American market.
Target Information
Nuvei Corporation, a prominent Canadian fintech company, has announced its definitive agreement to acquire Pay2All Instituição de Pagamento Ltda., a licensed Payment Institution authorized by the Central Bank of Brazil. This acquisition aims to enhance Nuvei's service offerings within Brazil, underscoring its commitment to expanding in the Latin American (LATAM) market.
The payment institution license obtained through this acquisition will empower Nuvei to provide extensive payment services across Brazil, including electronic currency issuance, payment acceptance, e-wallet management, and participation in local payment systems such as the Pagamentos Instantâneos (PIX) transactions. This strategic move positions Nuvei to effectively engage with Brazil's burgeoning digital economy.
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Industry Overview in Brazil
Brazil's payment landscape is rapidly evolving, driven by technological advancements and increasing demand for localized financial services. The Brazilian market presents significant growth opportunities, especially in the online gaming and
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Nuvei Corporation
invested in
Pay2All Instituição de Pagamento Ltda.
in 2024
in a Buyout deal
Disclosed details
Revenue: $1,970M