Nayax
Key Data
- Trading Name: Nayax
- Legal Entity: NAYAX Ltd/Nayax LLC/Nayax Europe UAB
- Activities: Payment Platform
- Location: Israel/USA
- Regulations: regulated by the Bank of Lithunia
- Key People: Yair Nechmad (CEO)/David Ben Avi (CTO)
- Latest news: Nayax
- Latest update: September , 2024
Nayax is a global fintech company providing a operating system and payment platform for multiple retailers.
Nayax went public on the Nasdaq in 2022 and has offices across the globe, including the U.S., China, and Germany.
Offering
Nayax offers a variety of fintech solutions centered around cashless payments and unattended retail management. Their main offerings include:
- Cashless Payment Solutions: Nayax provides hardware and software solutions that allow businesses to accept multiple forms of cashless payments, including credit cards, mobile payments (like Apple Pay and Google Pay), and contactless options. This includes VPOS Touch and Onyx, which are devices used for cashless transactions.
- Telemetry & Monitoring: Nayax’s platform includes a comprehensive telemetry system that allows businesses to monitor the performance of their machines (vending, kiosks, etc.) in real-time, ensuring efficient management and reducing downtime.
- Consumer Engagement Tools: Nayax helps retailers engage consumers through loyalty programs, promotions, and rewards via its Monyx Wallet. This mobile wallet app allows for digital payments and offers customized engagement opportunities.
- Business Intelligence (BI) Solutions: Their system provides detailed analytics and reporting, helping businesses to optimize their operations through insights on sales, inventory, and consumer.
- Electric Vehicle (EV) Charging Payments: They offer a cloud-based payment solution for EV charging stations, making them a player in the growing electric vehicle infrastructure space.
- Self-Service Retail Solutions: Nayax has also entered the self-service retail market with smart kiosks and partnered with companies like A2Z Cust2Mate to offer smart shopping carts that integrate payment solutions.
Serving Industries
Nayax serves a diverse range of industries, mainly focusing on unattended retail and cashless payment systems. These industries include:
- Vending Machines: They offer cashless payment and monitoring systems, enabling real-time tracking and various payment options.
- Kiosks: Their solutions allow self-service kiosks to accept cashless payments and provide management capabilities.
- Laundromats: Nayax provides solutions that support cashless payments and machine monitoring for laundromats.
- Automated Car Washes: They help automate payments and monitor systems for unattended car wash businesses.
- Amusement & Gaming: Nayax enables cashless payments for amusement parks, arcades, and other entertainment venues.
- Office Coffee Services (OCS): Their systems support cashless payments for coffee vending machines and similar office-based services.
- Electric Vehicle (EV) Charging Stations: Nayax offers cloud-based payment systems for EV charging stations, streamlining transactions in this growing sector.
Regulation
Nayax has obtained a Payment Institution (PI) license through its European subsidiary, Nayax Europe UAB, authorized by the Bank of Lithuania. This license allows Nayax to broaden its financial services across the European Economic Area (EEA), providing payment services like card processing and issuing. The license enables the company to directly manage and expand its payment solutions, ensuring compliance with the region’s strict financial regulations. This milestone reinforces Nayax’s commitment to providing secure, efficient, and regulated financial services in the European market.
Customer Reviews
Trustpilot: 3,9 Stars with 300+ Reviews
Key People
- Yair Nechmad (CEO)
- David Ben Avi (CTO)
Conclusion and Rating
Since Nayax has met all the necessary criteria, we classify the company as “Green.” This indicates full compliance with relevant regulatory requirements, particularly in the realm of payment services and financial security. The granting of the Payment Institution license by the Bank of Lithuania confirms their adherence to strict standards and their commitment to providing top-quality, secure services across the European Economic Area.
