Magazine Luiza to acquire Hub Prepaid for $56m.

Magazine Luiza, a Brazil retailer, agreed to acquire Hub Prepaid, a payments firm, for $56m. "After integration, MagaluPay customers - individuals and companies - will have one of the most comprehensive offerings of financial products and services in the market, free of charge and fully integrated with the Magalu SuperApp. With the digital account, customers will be able to make purchases, deposits, transfers (P2P, TED, DOC and PIX), payments (monthly utility bills and taxes as well as popular local payment methods such as Boletos and PIX), withdrawals (lottery agencies, ATMs and Magalu stores) and services such as prepaid cell phone refills and transportation vouchers. In addition, customers will have a prepaid card tied to their digital account balance, enabling transactions in the physical world," Magazine Luiza.