Nuvei Expands into the Brazilian Market with Pay2All Acquisition

Canadian payments processor Nuvei announced its agreement to acquire Pay2All, aiming to strengthen its presence in the Brazilian payments market. The acquisition, for an undisclosed sum, will allow Nuvei to operate as an issuer of electronic currency in Brazil, enabling payment acceptance, e-wallet and betting account management, and participation in local payment systems, including Pix transactions.

Nuvei highlighted Brazil’s $1.97 billion i-gaming market as a significant growth opportunity. The acquisition of Pay2All’s payment institution license positions Nuvei as a key payment partner for the i-gaming and broader e-commerce sectors in Brazil.

Philip Fayer, Nuvei’s chair and CEO, emphasised the importance of this acquisition, stating it reinforces Nuvei’s commitment to providing localised and modern payment solutions in Brazil. The deal is subject to regulatory approval.

Nuvei is also expanding across the LATAM region, having launched direct local acquiring in Colombia and planning similar services in Mexico. Additionally, Nuvei secured a major payment institution license from Singapore’s Monetary Authority in April, marking its entry into the APAC market.

These expansions come as Nuvei itself is set to be acquired by US private equity firm Advent International in a $6.3 billion deal.