Nuvei finalises acquisition of payment provider Mazooma
| By Robert Fletcher
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.