Nubank acquisition of fintech firm Spin Pay

Brazil-based neobank Nubank announced its acquisition of fintech firm Spin Pay. The deal to acquire Spin Pay will help Nubank to expand its portfolio. It can boost its offerings. In a media report Nubank stated that this acquisition will allow them to offer even more payment solutions for electronic retail. Spin Pay is working in partnership with more than 220 retailers. It has replaced bureaucratic payment methods with simple, fast and secure ways. On e-commerce platforms such as VTEX, Loja Integrada and Shopify Plus, this solution will be available.

Nubank added support for Apple Pay to its debit and credit cards, with Purple, Ultraviolet, and PJ accounts. This came out through a news report and that conveys that the Nubank’s customers can now make payments using Apple devices.

Nubank, last month reported that it was seeking a valuation of over $55.4 billion. This is ahead of its planned US initial public offering. Nubank had valued in its previous fund for around $30 billion. It is going to become the most valued fintech in the whole world, as per its achievements. Nubank might seek a valuation near the $100 billion mark.