Nuvei agrees to acquire licensed Payment Institution in Brazil

Core Insights - Nuvei Corporation has entered into a definitive agreement to acquire Pay2All, a licensed Payment Institution in Brazil, marking a significant milestone in its global expansion strategy and strengthening its presence in the Latin American (LATAM) market [1][4] Group 1: Acquisition Details - The acquisition of Pay2All will enable Nuvei to offer comprehensive payment services in Brazil, including accepting payments, managing e-wallets, and processing local payment systems like Pagamentos Instantâneos (PIX) [2][3] - Securing a Payment Institution license is crucial for providing transactional services in Brazil's newly regulated sports betting and online gaming market, which is projected to reach US$1.97 billion in revenue in 2024, with a CAGR of 15.39% from 2024 to 2029, leading to a market volume of US$4.03 billion by 2029 [3][4] Group 2: Strategic Importance - The acquisition aligns with Nuvei's commitment to providing localized payment solutions in Brazil and enhances its capabilities in the rapidly growing eCommerce and iGaming sectors [4] - In 2024, Nuvei has already demonstrated its commitment to LATAM by being the first global payments company to offer direct local acquiring in Colombia and is also implementing local acquiring services in Mexico [4] Group 3: Company Overview - Nuvei is a Canadian fintech company that provides technology and insights for clients to succeed in over 200 markets, with local acquiring in 50 markets, 150 currencies, and 700 alternative payment methods [5]