Nubank buys Spin Pay, Brazilian PIX payment platform for online stores

RIO DE JANEIRO, BRAZIL – Nubank announced on Monday, August 30, the purchase of Spin Pay, an instant payments fintech that supports purchases via PIX in e-commerce.

“The arrival of Spin Pay is a way to more quickly provide an even better and simplified experience for shopkeepers and Nubank customers,” Nubank’s statement said.

Nubank intends to keep current Spin Pay customers and expand the portfolio to bring the ease of PIX to even more consumers and commerce platforms.

The fintech works in partnership with more than 220 retailers from different sectors, such as department stores, electronics, and airlines.

The system is available on the e-commerce platforms VTEX, Loja Integrada, and soon Shopify Plus, in addition to a solution (APIs) capable of integrating with any retail system.

Even after the acquisition, the operations remain independent. Spin Pay will function as a separate business unit, working on developing technologies – but aligned with Nubank’s purpose.