Pay2All is an e-money issuer institution authorised by the Brazilian Central Bank.
On 6 September, the Office of the Superintendent General of the Administrative Council for Economic Defense (SG/CADE) cleared the acquisition of the total share capital of Pay2All, currently owned by BTG Pactual Bank S.A., by Nuvei Brazil.
Nuvei and Pay2All operate as payment facilitators for shopping in the e-commerce market. Pay2All, which is still a pre-operational company, holds a local payment processing license that is not available to Nuvei.
CADE analysed the competitive effects in the acquiring market (merchant onboarding) and the payment capture in Brazil.
The SG concluded that the transaction incurred low competition risks since, in accordance with the Brazilian competition law, the market share of the companies is below the level of potential competition harm. Thus, the acquisition was unconditionally cleared.
The decision of the Office of the Superintendent General of CADE is regarded final and the deal fully approved if the authority's Tribunal does not request the case for adjudication or a third party does not appeal to the ruling within 15 days of its announcement.
Source: Gov.br
