Beating the average estimate, Nuvei announced on November 28, 2018 that it’s acquired Moneris Solutions, an epayment network provider with around 400,000 merchants in the U.S. Nuvei is prepared to pay about $200 million for the company, in an all-cash deal.
As of June 30, 2018, Nuvei has approximately 300,000 merchants in North America and Europe, with a client list that includes two of the largest retail and banking organizations in Canada and U.K.
Nuvei also owns a cryptocurrency division called eQuant, and the company is looking to move further into the world of cryptocurrencies by spinning out from the blockchain network and giving direct credit to its clients.
For its part, Square has signed deals with three large banks to offer payments processing using LoopPay’s cashless payments technology. As a result, Square will now provide its customers with choice to pay with Square cards or LoopPay.
Square has also integrated the LoopPay account with its payments service in support of the Fitbit Charge 3.