With the planned purchase of Pay2All, Nuvei, which has been granted authorization as a payment institution by the Central Bank of Brazil since 2022, will be authorized to conduct business as an issuer of electronic money in that nation.

Accepting payments, managing betting accounts and e-wallets, and taking part in all regional payment systems—including Pix transaction processing—are all included in this category.

The $1.97 billion Brazilian i-gaming sector is specifically mentioned in a statement about the proposed purchase, according to Nuvei, who claims that it "presents significant growth opportunities."

Nuvei continues, saying that it would be "well positioned as a payment partner of choice to the i-gaming and broader e-commerce ecosystems in Brazil" if it were to obtain a license as a payment institution.

The planned sale "not only strengthens our presence in LATAM, but also demonstrates our commitment to providing fully localized and modern payment solutions to businesses in Brazil," according to Philip Fayer, chair and CEO of Nuvei, who described the license acquisition as "a top priority."

Although regulatory permission for the proposed purchase is still pending, Nuvei seems to be intensifying its attempts to expand throughout the LATAM area.

The payments processor is presently planning to deploy the same service in Mexico, having announced the introduction of direct local acquiring in Colombia in February of this year.

It affirms, "More strategic expansion in LATAM is scheduled to follow."

Nuvei has been striving to establish itself in the Asian Pacific region, as demonstrated by the major payment institution (MPI) license it obtained from the Monetary Authority of Singapore (MAS) in April.

This happened at the same time that it was announced Nuvei itself was going to be bought for $6.3 billion by US private equity company Advent International.