Neobank Nubank to Acquire Instant Payment Services Provider Spin Pay
Source: Fanny
Brazilian challenger bank Nubank recently announced its acquisition of Spin Pay, a fintech that offers instant payments services.
According to the official press release, the Spin Pay acquisition aims to help Nubank boost its e-commerce payment solutions. Upon finishing the transaction, Spin Pay will remain a separate company and work with more than 220 retailers ranging from department stores to airlines. Spin Pay works with e-commerce platforms VTEX, Loja Integrada and will soon have integration with Shopify Plus.
In addition, the latest acquisition also sheds a light on Nubank's efforts to expand its service offerings.
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