For Nuvei, which also listed in the United States in 2021, buying Paya will increase its American business as well as its exposure to payments between companies, a strategy which should make it less susceptible to rapid shifts in macroeconomic conditions and downturns in consumer spending.
"We're really excited about taking Paya's capabilities and plugging them into our global payments infrastructure," Philip Fayer, Nuvei's chief executive, told Reuters. Nuvei will pay for Paya using cash and debt including a new $600 million first-lien facility.