Nuvei plans to acquire Mazooma, expanding in the US gaming industry

Monday 19 April 2021 11:10 CET | News

Nuvei Corporation (Nuvei) has entered into a definitive agreement to acquire Mazooma Technical Services (Mazooma). 

Mazooma is an account-to-account payments provider in US online gaming and sports betting and is a registered vendor in 9 states, with permission in 12 states, and holds money transmitter licenses and exemptions in a total of 47 states. In addition, Mazooma’s Instant Bank Transfer payment solution features same-day Automated Clearing House (ACH) for payins and payouts, its partnership with Plaid, Mazooma is connected to 11,000 financial institutions in the US. 

The aim of this agreement is for Mazooma to enhance and expand Nuvei’s portfolio of alternative payment methods with an ACH platform with both payin and payout functionality, developed and used exclusively for online gaming in the US. Moreover, this acquisition will give Nuvei the necessary product functionality, as well as the vendor registration, compliance, and operational infrastructure to address merchant’s requirements in any regulated US state.  

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Keywords: acquisition, online payments, payment methods
Categories: Payments & Commerce | Online Payments
Countries: United States
This article is part of category

Payments & Commerce