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Normative Ordinance No. 615 was published by the Brazilian Ministry of Finance in the Official Gazette of the Union on April 18. This regulation requires payment institutions to obtain Central Bank of Brazil authorization before they can begin operations. Nuvei is prepared to offer its services—including payment acceptance and betting account management—in the Brazilian market with Pay2All’s approval.
Even though the transaction is still subject to usual closing requirements, like further Central Bank of Brazil regulatory approvals, its completion puts Nuvei in a position to support operators as a major payment partner prior to the planned January 1, 2025, launch of the legal market.
The Pay2All acquisition is a significant milestone in Nuvei’s Latin American journey. In February, Nuvei became the first global payments company to offer direct local acquiring in Colombia. It is also launching a local acquiring service in Mexico, highlighting its rapid regional growth.
Philip Fayer, Nuvei’s chair and CEO, emphasized the strategic importance of this expansion: “The proposed transaction not only strengthens our presence in LatAm but also demonstrates our commitment to providing fully localised and modern payment solutions to businesses in Brazil. We’re excited to offer our full suite of services to help drive growth for the rapidly-growing ecommerce and igaming operators in this dynamic market.”
With the Pay2All deal, Nuvei has taken a significant step in strengthening its regional footprint as it continues to grow throughout Latin America. Given the anticipated growth of the Brazilian market, Nuvei is in a strong position to offer comprehensive payment solutions, which will propel the expansion of igaming and e-commerce businesses.
This calculated acquisition supports Nuvei’s mission to provide cutting-edge, locally tailored payment solutions in a variety of areas. Nuvei hopes to use its experience to assist companies and take advantage of new prospects in the LatAm region by establishing a significant foothold in Brazil.