Browse articles by topic

Nuvei finalizes acquisition of payment provider Mazooma


Payment technology partner Nuvei Corporation has completed its acquisition of US-focused gaming and sports betting payment technology provider Mazooma Technical Services.

Nuvei in April agreed a deal worth an initial $56m (£41m/€47m) to purchase Mazooma, but the acquisition could be worth up to $315m if certain performance criteria are met over the next three years.

Nuvei said the acquisition enhances and expands its portfolio of North American payment options, with instant bank-to-bank payments for pay-ins and pay-outs, as well as real time payments for accelerated withdrawals.

While Mazooma traditionally focused on online gaming and sports betting in the US, Nuvei said it will now offer this payment method to its merchants across all verticals.

Mazooma is a registered vendor in nine US states, with permission in 12 states, and holds money transmitter licenses and exemptions in 47 states.

Through a partnership with Plaid, the provider is connected to 11,000 financial institutions in the US and is integrated with the majority of US gaming platforms and online gaming and sports betting operators.