Nuvei plans to broaden Brazilian services as betting regulation affects cross-border volumes

Nuvei’s Latin America general manager Juan Jorge Soto said Brazil’s betting regulation has reduced cross-border transaction volumes for the company, which is diversifying into sectors including travel, e-commerce and retail. Nuvei acquired payment institution Pay2All and withdrew its application for a separate authorisation after the acquisition was approved. Soto said the company may seek a full acquirer licence in Brazil in the medium term.