Nayax Ltd. operates a retail technology platform for automated self-service commerce.
The company has developed a complete solution for automated self-service retailers and commerce and other merchants. The company’s platform empowers retailers to provide consumers with digital, cashless payments, connected commerce experiences, enhancing consumer conversion and loyalty. The company’s comprehensive proprietary platform addresses the entire commerce value chain, including a global payments infra...
Nayax Ltd. operates a retail technology platform for automated self-service commerce.
The company has developed a complete solution for automated self-service retailers and commerce and other merchants. The company’s platform empowers retailers to provide consumers with digital, cashless payments, connected commerce experiences, enhancing consumer conversion and loyalty. The company’s comprehensive proprietary platform addresses the entire commerce value chain, including a global payments infrastructure, management software suite, a consumer engagement platform and integrated POS devices. The company helps retailers maximize their sales potential while optimizing their operations and costs.
The company addresses a broad range of automated self-service retail verticals, including all types of vending machines, coffee machines, self-service checkout counters and kiosks, ticketing machines, car wash stations, gaming machines, amusement rides, laundromats, EV charging stations and many more. The company has successfully leveraged its leadership position in the automated, self-service retail market, as well as the company’s deep product expertise and track record of innovation, to expand into the other retail markets. The company has developed a platform with in-store integrated POS and software solutions to help retailers manage and grow their businesses. As of December 31, 2023, the company served approximately 72,000 customers, whom, as of December 31, 2023, the company served in more than 120 countries across all continents, supporting 34 languages, more than 50 currencies and more than 80 payment methods.
The end-markets the company serves are driven by several key trends. The global shift away from cash is a powerful trend that underpins long-term growth within the payments industry. At the same time, the company has witnessed a significant change in consumer expectations and behavior. For example, consumers are increasingly opting for cashless automated self-service experiences, favoring shorter lines, reduced personal contact and privacy, which limits human interaction during shopping and checkout. Moreover, consumers expect a simple, modern and personalized purchasing experience across multiple channels, both in-store and online. To address these evolving and multifaceted needs, many retailers rely on a myriad of point solutions, which can be complex, incomplete, ineffective and expensive. This has created a tremendous opportunity for the company’s technology platform. In addition to accepting digital payments, the company’s end-to-end technology platform empowers retailers to fully and seamlessly manage their business while engaging with their consumers. The company provides significant value for its customers by helping them increase revenue through consumer engagement and conversion, and reduce costs through inventory optimization, personnel rationalization and real-time operation data.
The company is still in the early stages of capturing its large total addressable market opportunity. While the company is a leading technology platform that enables seamless digital commerce for retailers globally, the company’s managed and connected devices represented only a small percentage of the total automated self-service points of sale, as of December 31, 2023. With the ongoing shift to EV cars, Nayax is in a strong position to capture many of the open environment charger opportunities with the company’s vertical solution for the energy market, providing seamlessly integrated cashless POS and payments, and a dedicated energy management platform and loyalty suite the company developed especially for energy management and the EV market needs.
The company’s platform offers a comprehensive, end-to-end solution for all retail environments and enables digital payments acceptance, remote management and operation services and consumer engagement:
Payments Suite: International payments infrastructure that enables customers to offer consumers the ability to pay with their preferred local payment methods in their home markets.
Management Software Suite: A central intelligence hub for merchants that provides deep, real-time insights to optimize operations.
Loyalty and Marketing Suite: A consumer engagement loyalty and marketing platform that enables retailers to drive engagement with their target consumers.
Integrated POS: The company’s proprietary devices are designed to be seamlessly deployable in-store or on new or existing machines and enable the acceptance of digital payments.
Since 2005, the company has invested significant resources to develop a large number of integration protocols that enable the company to market its platform to many types of automated self-service points of sale with a simple ‘plug and play’ installation approach. The company’s hardware and software are developed in-house, enabling the company to manage manufacturing and production to the company’s own specifications. Moreover, the company’s software is easy to integrate with third-party systems via the company’s comprehensive API suite, such as ERP systems and loyalty platforms. The company has developed a collaborative work environment, and the company’s innovative solutions are the direct result of working closely with the company’s customers to understand their needs and challenges. The company’s sense of purpose is engrained in the company’s DNA. Beyond the company’s customer-first culture and award-winning support, the company’s employees are entrepreneurs, who are empowered by a genuine passion to strive for excellence and find new ways to help the company’s customers grow their businesses. Given the company’s track record of innovation in the automated self-service retail market, the company is well-positioned to further expand into the broader retail technology market.
The company’s solutions help its customers maximize their sales potential while optimizing their operations and costs. Based on customer feedback, customers that deploy the company’s platform can realize increases in sales driven by the incremental conversion of electronic payments, the company’s dynamic pricing solutions, the effectiveness of the company’s loyalty solutions and the reduction of downtime. The company also enables its customers to materially improve operating costs, which is driven by reduced labor and spoilage and improved cash management. The company’s business management solutions provide its customers with a comprehensive view of their business, which enables them to optimize critical operations, including route planning, inventory management and estate maintenance, which maximizes their up-time. The company’s solutions are increasingly attractive to customers given an ongoing global trend toward self-service, where many merchant are inclined to include automated machines as part of their 24/7 service to allow their customers to shop while their stores are closed.
The company serves customers of all sizes ranging from large, global enterprises, which the company defines as enterprises typically with numerous locations to single-location SMEs. The company defines a customer as any entity that has transacted using the company’s platform within a given period. The company has a direct presence in geographic markets where the company has identified high levels of immediate potential, including the United States, Canada, the United Kingdom, Germany, Japan, China, Australia, South Africa and the company’s home market of Israel. For example, for the fiscal year ended December 31, 2023, approximately 35%, 31%, 11%, 10%, 6% and 7% of the company’s revenue was derived from customers in the United States, Europe (excluding the United Kingdom), the United Kingdom, Australia, Israel and the rest of the world, respectively. The company also has licensed distributors deploying the company’s platform in an additional 80 countries worldwide. The company’s solutions are deeply embedded and mission-critical to the company’s customers’ operations.
Imperial, part of the Canteen Franchise Group for coffee services and vending machines, chose Nayax as their technology partner for upgrading their cashless devices.
The company has further developed the company’s strategic partnership with TIBA Parking Systems, a provider of hardware and software solution for the parking market.
The company has partnered with Pandora, an Israeli jewelry brand, as a new retail customer.
The company has entered into an agreement with IWG Regus Global to provide to their customers with the ability to use the company’s payment solution to pay for coffee services, package deliver lockers and electronic vehicle charging.
Synergy Energy, a western Australia's energy retailer and generator, chose to roll out their electric vehicle direct current chargers with Nayax' devices embedded in their products.
The company has also extended its existing relationship with Primo Water in the U.S., with additional sales and installations of Nayax devices.
Another U.S. automated self-service retail provider extended its program with Nayax by purchasing devices for a water refilling project at a large car manufacturer.
In Germany, the company signed a new Tier 1 customer who is a full-service provider in the field of Smart Vending. For this new strategic relationship, the company has developed digitized vending machines, targeting high frequency locations such as shopping centres.
The company has entered into a strategic partnership with Turkey's Duzey, a holding company with several brands in the consumer goods sector. The partnership was initiated with the installation of Nayax devices on vending machines in public and factory locations throughout Turkey. The partnership was than extended to other locations in Europe.
Coinbridge, the company’s customer loyalty solution received a license to issue the Discover Card in the U.S. market; completed its Apple Pay integration; entered into a U.S. infrastructure partners’ agreement to provide service in the U.S., including as an issuer processor and an issuing bank; and entered into a strategic partnership with Giift, a provider of loyalty technology solutions.
The company has entered into a partnership agreement with a U.S. automobile manufacturer using the company’s technology for public EV chargers in their dealerships.
On November 30, 2023, the company acquired Retail Pro, a global leader in retail POS software with Tier 1 global brand names across the world and an extensive distribution network of over 80+ partner resellers. This transaction has tripled the company’s distributor network to over 120 partner resellers and extended the company’s scale, providing the company with meaningful opportunities to cross-sell the company’s payment solutions to Retail Pro’s customer base and distribution channels.
The company has completed deployment of the company’s EV payment solution for direct current fast chargers in a Las Vegas casino.
The company has expended the sales of Nova Market, the company’s cashless self-checkout solution to Vending Minnesota.
Platform
The company builds a comprehensive, end-to-end platform to fit a vast array of retailers’ needs. The company’s solutions empower its customers, whether large enterprises or SMEs, to manage their businesses across points of sale, payment processing, business operations and consumer engagement, all using a single platform. The company addresses the entire commerce value chain, enabling out of the box loyalty experience for the company’s customers and their consumers. In addition, the company provides platform solutions that include analytics and capabilities for retailers, as well as application programming interfaces (APIs) that enable the company’s customers to seamlessly connect with other technology solutions.
During 2023, the company’s platform facilitated 3.65 billion of transaction value; approximately 1.84 billion transactions; and approximately 1M managed and connected devices in more than 120 countries.
The company’s platform provides the following solutions:
Payments Suite. The company’s global cashless payments infrastructure enables the company’s customers to offer consumers the ability to pay with the local payment methods they are accustomed to using in their home markets. The company’s integrated POS devices accept credit, debit and prepaid card payments, in addition to alternative payment methods and digital wallets. The company has built an international payment network with direct connections to more than 80 payment methods and acquirers that enable the company to collect payments in more than 50 currencies. The company’s payments platform helps its retailers maximize payment conversion and acceptance across different countries.
As a Payment Service Provider (PSP), the company follows a merchant of record model with its customers. As a result, the company works directly with banks and payment card networks, and the company manages the complex systems, rules and requirements of the payments industry for the company’s customers. By being the merchant of record, the company is able to aggregate transactions and offer better processing fees for the company’s customers. The company can also make its customers’ onboarding process frictionless and is able to offer instant refunds to end consumers, which results in higher consumer and customer satisfaction.
Management Software Suite. The company’s proprietary management software suite serves as a central intelligence hub for the company’s customers, providing deep, real-time insights that help retailers optimize their operations. The company’s platform enables its customers to manage their entire network of connected devices from a single place. Flexible API connections allow additional integration with other software platforms. As such, the company’s customers are able to monitor inventory, dynamically price products, manage employees and review business and reconciliation reports using the company’s software suite.
Monitoring and Management. The company’s management system allows 24/7 remote monitoring and management of retail services, detecting potential errors and generating corresponding alerts. As a result, the company’s customers are able to detect operational issues in real-time and minimize downtime. Other features include remote product price change and software updates, which reduce the need to rely on technical support and ongoing maintenance services. The company’s special retail management allows customers to manage stock, promos, employees and more. The company’s energy management system allows its customers to monitor and control energy consumption, manage pricing and more.
Inventory Management. The company’s inventory management capabilities allow its customers to keep track of available inventory, track costs and transfer inventory between multiple locations. The company’s dynamic routing helps its customers optimize their supply chain, reduce spoilage and decrease operational costs.
Reporting. The company’s customers are able to access real-time information about their automated self-service machines and their integrated POS devices. Data is collected and consolidated from customers’ Nayax-based integrated POS devices. The company provides reports for various business areas, including sales transactions, cash levels and inventory status. The company’s business intelligence tools and customizable dashboards help the company’s customers monitor and improve the performance of their business.
Product Management. The company helps its customers set up and manage product catalogs with multiple customizable parameters. The company also offers dynamic pricing tools such as multiple price lists, currencies and special prices.
Employee Management. The company’s customers can manage roles, permissions and access levels by POS device and activity according to different hierarchies such as global offices or regions. The company’s customers in the automated self-service retail market can seamlessly reduce fraud by tracking employee visits, inventory refill and cash collections.
Loyalty and Marketing Suite. The company’s proprietary consumer engagement marketing and loyalty platform provides comprehensive tools to the company’s customers that allow them to drive engagement with consumers across multiple channels. On the front-end, the company provides a digital wallet app to consumers, which enables them to order remotely and receive loyalty discounts, coupons, gifts and special offers. On the back-end, the company’s platform enables its customers to manage multiple marketing and loyalty campaigns. In addition, the company’s solutions help retailers connect in-store POS data with online marketing activities and analytics to monitor and improve the efficiency of marketing efforts.
Loyalty. The company’s customers are able to offer various loyalty programs using numerous attributes such as price rules, cards, points and wallets. The company also enables its customers to quickly set up campaigns and promotions based on built-in templates. The company’s tools allow them to manage and track campaign success while building brand loyalty.
Promotions. The company’s customers are able to set up various promotions such as punch cards, discounts, cashback, bonus credit and happy hours. Such promotions benefit the company’s customers by increasing the number of repeat consumers.
Engagement solutions. The company offers its customers omni-channel marketing solutions that connect the online and in-store consumer journeys, enabling them to focus their advertising efforts, increase engagement, maximize conversions, grow revenue and see more returning consumers.
Marketing Solutions The company offers customers the ability to run marketing campaigns on social media, utilizing their own data to provide better outcomes. The company also offers the ability to run SMS and email campaigns.
Integrated POS. The company’s integrated POS devices enable the acceptance of digital payments for the company’s customers. The company’s devices, which consist of hardware and software, are designed and developed in-house with the company’s own specifications, and the company manage the entire value chain of manufacturing and production to the company’s own specifications with the company’s manufacturing partners. The company’s devices are built for ease of installation in any automated self-service environment and across both new and retrofit environments. The company has developed a seamless process whereby customer orders, device shipments and installations can be handled without the help of a technician or a Nayax employee. Moreover, the company has a simplified onboarding process, and the activation cycle of the company’s devices can be relatively short. As such, customers are often able to start processing payments immediately after device installation. The company’s devices have a distinct branding and a customized design that has been developed to help consumers understand that checkout is cashless. In addition to devices for the automated self-service retail market, the company has leveraged its platform to expand into the attended retail market, delivering in-store POS and payments solutions.
Automated Self-Service POS devices. The company provides a wide array of POS devices for the automated self-service retail market. In addition to payment acceptance, the company’s devices are connected to the internet using Internet-of-Things (‘IoT’) communication protocols, enabling multiple telemetry functionalities. The company’s devices are industry agnostic and have been deployed by customers in various verticals of the automated self-service retail market.
Attended POS devices. The company also provides multiple POS devices for the attended retail market, including Electronic Cash Registers, as well as handheld and mobile POS devices.
Benefits of the company’s Platform
The company’s platform is a business to business to consumer (B2B2C) solution helping the company’s customers, who are generally consisted of large enterprises and SMEs, and consumers. This two-sided network makes the company strategically important for its customers, who rely on the company for their complex digitization needs, and for consumers, who rely on the company when paying for the products they purchase.
Benefits of the company’s Platform to the company’s Customers
The company continuously applies its knowledge and deep expertise to innovate and meet the specific needs of the company’s customers, while freeing them from legacy and complex processes and technologies. For the company’s customers, key benefits of the company’s solutions include:
Single, integrated end-to-end platform. The company provides its customers with a comprehensive, end-to-end platform, substantially reducing the need to work with and manage multiple, disparate vendors and systems. The company’s omni-channel, 360-degree platform helps customers track operations across multiple channels and access enhanced reporting in one centralized location.
Global solution, local support. The company has a broad international footprint, and the company is able to offer its solutions in multiple worldwide locations, which saves the company’s global enterprise customers the need to look for local technology providers to serve their consumers globally. Additionally, with the company’s large original equipment manufacturers (‘OEM’) network, the company’s customers are able to receive their machine with the company’s devices pre-installed and begin operating easily almost anywhere in the world.
Increased sales. The company’s solutions offer a wide variety of payment options, an improved consumer experience and enhanced dynamic pricing capabilities, which help the company’s customers improve their sales. The company’s solutions also streamline its customers’ operations with 24/7 monitoring and management of connected devices, employees and other business activities. The company’s technology minimizes downtime by optimizing various processes such as automating issue detection and resolution.
Reduced Costs. The company’s solutions optimize operating costs for the company’s customers by enabling them to reduce overhead and better manage their employees. In addition, the company’s technology enables remote device diagnostic and software updates, which save the company’s customers the need to contact third-party providers for device troubleshooting and upgrades. Given constantly evolving regulations and technical standards, the company’s capital-efficient customer service platform results in enhanced customer experience and optimized cost of ownership and maintenance for the company’s customers.
Enhanced Consumer Engagement. The company helps its customers attract consumers through marketing, branded loyalty programs and mobile solutions, using consumer data. Through the company’s platform, retailers gain access to consumer insights and advanced analytics they can use to build direct relationships with consumers and drive increased loyalty and higher sales. These capabilities have become critical as retailers engage with consumers across multiple channels. Leveraging the company’s omni-channel marketing engine, the company helps customers tailor recommendations and deals for consumers. The company’s loyalty programs include every transaction, allowing consumers to start earning loyalty funds from each purchase.
White-glove customer service. Customer success is a key focus for the company through a combination of tailored onboarding services, customer support and intuitive product design and customer experience. The company strives to foster long-term relationships with its customers by having short sales cycles, adopting a consultative approach and providing multiple support channels in extended hours. Moreover, the company’s ownership of the end-to-end solution provides major advantages in all aspects related to product integration, technical support and customer service. As a result, the company is able to tackle its customers’ questions and concerns efficiently, and the company maintains high-quality support levels that save the company’s customers valuable time and effort, generating higher customer satisfaction.
Benefits of the company’s Platform to Consumers
The company’s digital consumer experience is designed to simplify the process of retail purchasing. For consumers, key benefits of the company’s solutions include:
Diverse and Local Payment Options. The company provides a frictionless experience for consumers as part of a streamlined digital payment experience. The company makes it possible to accept payments in more than 120 countries and more than 50 currencies, so consumers can pay in their preferred local payment methods.
Loyalty Features (Discounts, Gifts, Coupons, and Special Offers). Consumers are able to benefit from discounts at the point of sale, as well as gifts, coupons and special offers.
Enhanced Consumer Experience. The company’s solutions ensure consumers have an enhanced experience shopping with the company’s customers. For example, consumers can use the company’s mobile app to provide various feedback points and ratings. In addition, the company’s integrated solutions enable features such as instant refunds, which simplify multiple customer processes that were traditionally complex to handle.
Growth Strategies
The company is focused on growing and scaling its business in a rapid yet sustainable and disciplined fashion. The company’s key strategies are to retain and grow with the company’s existing customers; win new large enterprise and SME customers globally; continue to innovate and develop new solutions; continue to expand into new markets internationally; enter emerging, high-growth verticals; cross sell; and pursue targeted and strategic M&A.
Products
The company’s end-to-end technology platform offers an extensive portfolio of products and solutions for both the automated self-service and attended retail markets. The company’s portfolio spans three key categories: Telemetry and Management Software Suite, Loyalty and Marketing Suite and integrated POS and cashless payment solutions. The solutions offered by the company’s comprehensive Payments Suite are embedded within the company’s integrated POS solutions.
Management Suite
Nayax Core: Management and monitoring software for vending machines and other automated self-service machines.
Nayax Core helps automated self-service retailers remotely manage their business by using the company’s real-time data telemetry solution. The software covers all aspects of operations and helps the company’s customers make decisions based on actionable data, which improves operational costs and efforts. The management suite includes multiple modules, such as cashless and cash payment tracking, prepaid card management, customizable events and alerts, business intelligence and operational reports, employee management, inventory management, insights on consumer behavior, marketing tools and loyalty programs, and instant refund option for Monyx Wallet users. In the U.S., the company offers remote management solutions under the VendSys brand, which provides robust CRM and ERP solutions, helping large-scale operators monitor and manage a sizeable footprint of multiple machines.
MoMa: Mobile app for automated self-service machine operators to manage and monitor their operations on-the-go.
The MoMa app utilizes the back-office capabilities of Nayax Core Management to help tracking profit and performance for automated self-service machines from any mobile device. The app offers a global map view of all machines with QR identification, provides reporting dashboards, and allows advanced monitoring and real-time push notifications for alerts and events. In addition, MoMa allows operators to enable the company’s Monyx Wallet capabilities on their automated self-service machines.
Tigapo back-office software suite: Cloud-based platform that helps Family Entertainment Center (‘FEC’) operators streamline their operational cost.
The software allows the company’s FEC customers to monitor their automated self-service machines, receive alerts, manage inventory, generate sales reports and insights and create smart incentive programs. The Tigapo back-office software suite is tailored for FECs, helping them manage employees, games and consumers using one centralized platform.
EV Core: Smart, cloud-based management platform for both large and small EV charging networks.
The EV Core offers a myriad of tools that help EV charging station operators automate, optimize and control their EV charging networks. This management suite allows operators to remotely monitor EV charging infrastructure, and includes features such as energy consumption optimization using subsidized tariff hours, flexible price setting, automated multi-currency billing system and real-time reporting.
Attended Retail Market
Retail Management Cloud: Comprehensive attended retail management platform to streamline omni-channel operations and integrate with ERP software.
The company’s cloud platform helps its attended retail customers manage their head-office and store omni-channel operations for products, consumers, employees, loyalty and memberships. In addition, Retail Management Cloud seamlessly streamlines all data and information flows from the company’s customers’ Enterprise Software to their POS devices. The platform provides AI-based personalized product recommendations at the POS and targeted online campaigns for in-store consumers. It allows the company’s customers to manage multiple loyalty programs, as well as employee roles, permissions and sales targets. Other features include customizable product catalogs and dynamic pricing tools.
Retail Pro’s comprehensive solution offers large global retailers a complete software POS system, including management and ERP capabilities, that helps these retailers manage their business from inventory to employee shift scheduling. Retail Pro’s solution also connects to an omni-channel shopping experience, helping such retailers improve operations, streamline reporting, optimize inventory and manage global pricing, discounts and more. Retail Pro is a well-known brand in the fashion industry, in particular, having built a special customizable software POS flow over several years to answer different retailer needs.
Loyalty and Marketing Suite: Proprietary consumer engagement marketing and loyalty platform providing comprehensive tools to the company’s customers that allow them to drive engagement with consumers across multiple channels.
Monyx Wallet: Digital wallet app enabling cashless payments with mobile phones at the company’s integrated POS devices.
Monyx Wallet enables cashless payments using a digital wallet app installed on consumers’ mobile phones. Consumers or their companies can preload the digital Monyx Wallet with a balance that can be used with any Nayax POS device. The mobile app allows the company’s customers to increase engagement with consumers through marketing campaigns, discounts and promotions. Other features of the company’s Monyx Wallet include punch cards, bonus credit when consumers add money to their wallet and gamified cashback rewards. Consumers can also use the Monyx Wallet app to rank different machines, alert the company’s customers of issues in real-time and receive digital refunds when a machine is facing a problem.
Weezmo: Consumer engagement and marketing platform that connects consumers online and offers in-store activities to boost revenue by maximizing conversions and increasing the number of repeat consumers.
Weezmo uses proprietary technology to integrate with POS devices from Nayax and other vendors. The company’s customers use Weezmo to issue branded digital receipts that are sent to consumers via SMS or email. Weezmo gathers smart data from both in-store and online behavior to target consumers with the right offers. By combining Facebook and Google connectors with the company’s research online, purchase offline (‘ROPO’) analysis, the company helps its customers monitor and accelerate the complete consumer journey.
Weezmo also offers the company’s customers other tools to interact with consumers, such as personal product recommendations, surveys, social media pages, feedback and ratings.
Weezmo also offers marketing tools to help increase revenue, such as email and SMS campaigns.
Tigapo app: An associated Nayax’s company mobile app the company utilizes to help FEC businesses increase consumers’ spending and engagement by providing an interactive and personalized experience.
Tigapo uses predictive algorithms to provide consumers with customized incentives and challenges at appropriate times to increase their engagement and time spent at the FEC. Consumers are also able to use the app to redeem prizes and to complete payments using their smartphone as a digital wallet. Other app features include ticket management, billing history and bundles and packages status updates.
Integrated POS and cashless payment solutions: Devices that enable the acceptance of digital payments for the company’s customers.
Automated Self-Service Retail Market
VPOS Touch: Flagship product for automated self-service points of sale, an all-in-one cashless payment and telemetry device.
VPOS Touch transforms any automated self-service point of sale into a smart IoT point of sale that enables acceptance of cashless payments using swipe, contact, contactless, mobile and NFC payments. The company’s plug and play devices can be easily installed on automated self-service machines and also offer remote software updates. VPOS Touch devices enhance consumer engagement through voice interaction and multi-language display capability. The company’s devices are seamlessly integrated with its NayaxVend management software suite and help the company’s customers monitor their automated self-service machines in real-time with continuously updated information. VPOS Touch and Onyx devices also offer a technical manager module that facilitates machine maintenance and parameters updates.
Onyx: Contactless card reader and telemetry device featuring NFC and QR payments using a compact design to fit smaller machines.
Onyx provides a solution that is essentially similar to VPOS Touch. Onyx devices include features such as remote management and a technical manager module. Other device characteristics include plug and play installation, telemetric data and alerts and contactless, mobile and NFC payments using credit, debit and prepaid cards. The device also offers an intuitive user interface, which enhances consumer engagement.
EV Meter: Fully functional EV charging station equipped for commercial and residential sites.
The company offers operators convenient and user-friendly EV charging stations that include an AC charger and a built-in telemetry system providing state-of-the-art efficient energy management, data analysis and reporting capabilities. The station can be equipped with a VPOS Touch device that allows cashless payments in open environments (credit and debit cards, digital wallets and QR scans) or closed environments (prepaid cards). Operators can remotely manage operations, users and power consumption for their EV charging stations. Through the company’s iOS and Android apps, EV drivers can remotely start, stop or schedule their charging from anywhere, monitor energy consumption, limit charging by KW and track multiple authorized users.
DOT: Smart QR and barcode reader.
DOT offers a smart, compact card reader that recognizes QR codes to support flexible payments from paper, smartphones and tablets. It smoothly integrates with the company’s VPOS Touch, Onyx and AMIT devices to enable a seamless omni-channel user experience and fast and speedy checkout. The DOT has improved scanning performance due to its internal LED illumination, wide-angle scanning and light and dark modes that adjust to the surrounding environment.
OTI Solutions
UNO Plus: EMV NFC and FeliCa Contactless Reader with Display.
The UNO-PLUS EMV and FeliCa Contactless (NFC) reader with display designed exclusively for automated self-service retail environments supporting an extensive range of applications.
The UNO-PLUS reader includes a text display and is compatible with EVA and JVMA mounting standards making it ideal for vending machines, ticketing, toll roads, gaming, kiosks, access control, mass transit ticketing validations and more. Equipped with a 2X16 character visual graphic display and a powerful speaker, it can suit any retail environment.
UNO 8: The World’s Smallest EMV NFC and FeliCa Contactless Reader.
The UNO-8 has a unique form factor which makes it the world’s smallest and a cost-effective EMVCo modular certified reader, supporting other NFC contactless payments like FeliCa, Mifare and P2P. With complete contactless connectivity and multiple mounting options, the UNO-8 is designed for automated self-service retail environments with self-service payment stations, including ATMs, toll roads, access control and mass transit validators.
This extremely compact and robust device is a perfect match for all the toughest indoor and outdoor needs of any operator.
EMV SOM: Small & cost-effective PCI-PTS ready contactless EMV reader module, designed for large OEM Terminal Manufactures.
Accept cashless payments:?Contactless?EMV & Closed loop (Mifare).
Supported protocols:?Kiosk API, Reader low level API.
Physical interface:?USB 2.0 FS, UART TTL.
Integrated with Kiosk CORE (Android, Windows, Linux).
Interface pins to Touch, Speaker, LEDs, SAM slots, QR scanner, Magstripe, Contact.
Remote software updates and?small form factor?design.
Nova Market: Cashless micro market solution and self-checkout solution.
Nova Market is a self-checkout kiosk that lets consumers purchase products independently while reducing their waiting time and increasing the company’s customers’ operational efficiency. Nova Market is used by micro markets and other self-served businesses to support all cashless payment options and provide a fast and intuitive checkout process for any number of products and services. Combined with Nayax Core management platform and marketing tools, Nova Market allows the company’s customers to manage inventory, consumers and employees on one platform.
Attended Retail Market
Nova Kiosk
Nova Kiosk is a highly customizable, large standing kiosk or countertop kiosk system that allows merchants to customize the look and feel of the kiosk system, easily upload products and manage pricing in the Nayax Core system. Nova Kiosk allows retailers to easily manage their self-checkout, self-purchase systems in their location.
Nova 156: The company’s flagship Electronic Cash Register (‘ECR’) for the attended retail market.
Nova 156 is a dual interface combining a 15.6 inch touchscreen register with a handheld Smart POS Device equipped with a printer and a barcode scanner. The detachable POS is an Android-based platform that accepts credit and debit cards and supports a variety of payment capabilities, including swipe, QR, contactless and contact payment methods, in addition to alternative payment methods such as digital wallets and Tap on Pay. Nova 156 features multiple business management capabilities, such as logistics and employee management.
Nova 55: An all-in-one flexible payment solution.
Nova 55 is a handheld Smart POS Device with a 5.5 inch screen, a printer, a camera and a barcode scanner, allowing further comfort and convenience in accepting payments. Nova 55 is an Android-based POS that provides a variety of payment capabilities, including swipe, QR, contactless and contact payment methods, in addition to alternative payment methods such as digital wallets and Tap on Pay.
Nova 45: Mobile POS allowing ultimate customer focus and flexibility.
Nova 45 is a smaller version of the Nova 55, offering similar capabilities and replacing the printer by digital receipts. Nova 45 also features wireless push-to-talk local communication between similar products, enabling regular communication between staff members.
Retail One: Universal and feature-rich retail POS that integrates with SAP Business one.
Retail One provides an advanced, universal, easy to use and customizable retail solution that is fully integrated with SAP Business One, enabling retailers to manage all retail functions out of SAP. It accepts all major payment methods, including EMV, contactless (NFC), QR codes and cash, and enables consumers to choose between printed receipts or branded digital receipts via SMS or email.
Customers
As of December 31, 2023, the company served approximately 72,000 customers, that, as of December 31, 2023, operated approximately 1,044,000 managed and connected devices in more than 120 countries across all continents, including in Australia, Canada, China, Czech Republic, Denmark, France, Germany, Israel, Italy, Japan, Mexico, the Netherlands, New Zealand, Spain, Sweden, Switzerland, the United Kingdom and the United States. The company has a significant presence in markets where the company has identified a high level of immediate potential, including Australia, Canada, China, Germany, Israel, Japan, the United Kingdom and the United States. For the fiscal year ended December 31, 2023, approximately 35%, 31%, 11%, 10%, 6% and 7% of the company’s revenue was derived from customers in the United States, Europe (excluding the United Kingdom), the United Kingdom, Australia, Israel and the rest of the world, respectively.
The company’s platform enables payment in more than 50 currencies, accepting more than 80 payment methods, including credit, debit and prepaid cards and alternative methods of payment such as Apple Pay, Google Pay, Ali Pay and others, and provides support in 34 languages. The company market the company’s products to a diverse group of customers, and the company’s products are suitable both for small, local customers with just a few POS devices, as well as large, global customers with as many as tens of thousands of POS devices. As such, the company is not dependent on any one customer.
Sales & Marketing
The company sells its products directly, through subsidiaries located in twelve different countries, and through resellers and distributors. The company also engages with various manufacturers that integrate the company’s products into the products they manufacture and sell. In addition, the company has established an e-commerce website in the U.S., Canada, the U.K., Australia and Netherlands where new and existing customers can purchase the company’s products independently and will be introducing such sites in additional countries and territories in the near future. Similarly, the company operates advertising channels, search engine optimization and audience-targeted marketing campaigns for small and medium businesses. The company is active on social media, conduct webinars and events and distribute promotional materials and automated email marketing and articles to target audiences. The company actively tracks and analyzes the interactions on its advertising channels. The company works to perfect its go-to-market channels and onboarding customer journey to ensure brand excellence and positive customer satisfaction from all the company’s interactions.
Components and Manufacturing
The company designs and develops the integrated POS devices and software that the company sells to its automated self-service customers. The company engages two subcontractors that supply the POS devices as a finished product and purchase the components necessary for manufacturing the company’s POS devices, with the exception of certain items. The company does not have written agreements with these subcontractors. Rather, the company’s manufacture order volumes are determined according to the company’s needs, based on sale orders the company receives from its customers.
Research and Development
The company has made significant investments in the company’s platform, spending $21.9 million on research and development in 2023.
Competition
The company has a large number of competitors, including Cantaloupe, Inc., CPI, Ingenico, and many others, including traditional cash payment vendors.
Intellectual Property
As of December 31, 2023, the company owned four issued U.S. patents, four issued international patents, five issued patents in Israel and two issued European patents. The company also has several patent applications in other jurisdictions. In addition, the company owns and uses trademarks and service marks on or in connection with the company’s proprietary technology and related services, including both unregistered common law marks and issued trademark registrations. As of December 31, 2023, the company owned several trademarks as specified below. The company’s trademarks are registered in Israel, the United States, Japan, Australia, the European Union, the United Kingdom, China and Mexico (among other jurisdictions). The company also has other trademarks and trademark applications related to CoinBridge in Israel, the United States, Japan, Australia, Canada, the European Union, the United Kingdom, China and India (among other jurisdictions). The company’s EV Meter mark is also registered in the United States. Finally, as of December 31, 2023, the company had eight registered domain names for websites that the company uses in its business.
Regulation
The company provides payment processing services in the EEA through Nayax Europe UAB (‘Nayax Europe’). Nayax Europe is incorporated in Lithuania and, as such, is subject to the local implementation of the EU’s second Electronic Money Directive and the second Payment Services Directive 2.
Nayax Europe holds a license through the Bank of Lithuania to operate as an Electronic Money Institution (the ‘EU EMI License’) across the EEA on the basis of a single market passport. Pursuant to the EU EMI License, the company is able to provide services to business customers and end-users that enable the company to charge and manage monetary values online.
Nayax operates in Israel as a payment aggregator and, as such, is considered a service provider in financial assets according to the Control of Financial Services (Regulated Financial Services) Law, 5776-2016 (the “Control Law”). Pursuant to the Control Law, the company must have a license to provide services in financial assets, as well as a license to provide credit from the Capital Market, Insurance and Savings Authority in Israel (the “CMISA”).
The company is also subject to anti-money laundering laws and regulations set out by the jurisdictions in which it operates, and the company engages in standard “know-your-customer” diligence prior to initiating a customer relationship that screens customers against sanctions lists including the Israeli Ministry of Defense Terror list, the U.S. Specially Designated Nationals and Blocked Persons list, the U.K. Consolidated List of Designated Persons and a consolidated list of people, groups, and entities who are subject to EU financial sanctions. This process must be completed before any payment relationship is established with a customer. In Israel, because the company is licensed as a financial services provider, it is subject to Israel’s Prohibition of Money Laundering Law, 5760-2000 (the “Prohibition of Money Laundering Law”) and to the Anti-Money Laundering Order (Duties of Identification, Reporting and Record-Keeping of Money Service Businesses and Credit Service Providers for the Prevention of Money Laundering and Terror Financing) 5778-2018 promulgated thereunder (the “Order”).
The company is also subject to obligations under the Prohibition of Money Laundering Law and Order. First, under the Order the company is subject to various “know your customer” requirements, including identification and verification of clients, as well as certain reporting, record-keeping and sanctions list screening requirements. Second, the company is required to have a dedicated officer who is responsible for fulfilling the requirements of the Prohibition of Money Laundering Law and Order.
The company is also subject to anti-money laundering laws and regulations set out by the jurisdictions in which the company operates, and the company engages in standard “know-your-customer” diligence prior to initiating a customer relationship that screens customers against sanctions lists including the Israeli Ministry of Defense Terror list, the U.S. Specially Designated Nationals and Blocked Persons list, the U.K. Consolidated List of Designated Persons and a consolidated list of people, groups, and entities who are subject to EU financial sanctions. This process must be completed before any payment relationship is established with a customer. In Israel, because Dually is considered a financial services provider, it is subject to Israel’s Prohibition of Money Laundering Law, 5760-2000 (the “Prohibition of Money Laundering Law”). Dually has two main obligations under the Prohibition of Money Laundering Law. First, it is subject to various “know your customer” requirements as well as certain reporting requirements. Second, Dually is required to have a dedicated officer who is responsible for fulfilling the requirements of the Prohibition of Money Laundering Law.
Because the company collects, processes, stores, shares, discloses, transfers and uses consumer information and other data and engages in marketing and advertising activities to deliver its services to its customers and its customers’ end users (consumers), the company is also subject to laws, rules, regulations and industry standards that address privacy and data protection, including Section 5(c) of the Federal Trade Commission Act, the California Online Privacy Protection Act, the California Consumer Privacy Act, as amended by the California Privacy Rights Act (collectively, the “CCPA”), the Personal Information Protection and Electronic Documents Act, the CAN-SPAM Act, the Gramm Leach Biley Act, the Payment Card Industry Data Security Standard (“PCI DSS”), Section 30a of the Israeli Telecommunications (Telecommunications and Broadcasts) Law, 5742-1982, Australia’s Privacy Act and Canada’s Anti-Spam Law.
In the EEA, the company is subject to GDPR 2016/679, and in the United Kingdom, the company is subject to the United Kingdom data protection regime primarily consisting of the U.K. General Data Protection Regulation and the U.K. Data Protection Act 2018, in each case in relation to its collection, control, processing, sharing, disclosure and other use of data relating to an identifiable living individual (personal data).
The company is subject to European Union and the United Kingdom rules with respect to cross-border transfers of personal data out of the EEA and the United Kingdom, respectively.
The company is also subject to evolving EU and the U.K. privacy laws on cookies, tracking technologies and e-marketing.
In addition, the company is subject to the PPL and the regulations promulgated thereunder, which impose obligations with respect to the manner certain personal data is processed, maintained, transferred, disclosed, accessed and secured.
History
Nayax Ltd. was founded in 2005. The company was incorporated in Israel in 2005.
