Nayax Strengthens Brazil’s Presence With UPPay

Nayax Ltd., a company that helps businesses with payments and customer loyalty, has bought UPPay. UPPay is a digital payment and telemetry provider for self-service coffee machines in Brazil. The company said this deal would help it grow in Brazil and reach more markets in Latin America.

UPPay offers a smart and low-cost way for businesses to handle payments and track vending machines. The company said its technology is easy to use and can fit many different types of machines. Nayax revealed that buying UPPay would help businesses in Latin America switch to digital payments more easily.

Nayax Aims To Support More Than 25,000 New Vending Machines In Brazil

UPPay is well-known in Brazil’s self-service coffee industry. With this deal, Nayax will support more than 25,000 new vending machines across the country. The deal is worth 32.75 million Brazilian reals, which is about 5.3 million U.S. dollars. Nayax said it would complete the purchase using cash.

Nayax entered the Brazilian market last year when it bought VMtecnologia, another company that works with self-service machines. Since then, Nayax has reached all Brazilian states, covering 466 cities and working with over 2,400 retailers. UPPay will now work with VMtecnologia to improve services and reach more businesses.

The founders of UPPay said the company has helped many businesses grow in the coffee vending industry. They stated that Nayax is a strong player in the self-service market, and working together would help both companies expand worldwide. According to the founders, Nayax’s large network and experience would be useful in bringing UPPay’s solutions to more businesses.

Eduardo Muniz, the leader of VMtecnologia, said UPPay’s technology would help the company offer more payment and tracking tools to vending businesses. He stated that this deal would allow VMtecnologia to support a larger number of retailers and provide more flexible services.

Nayax Plans To Offer Retailers Easy Tools For Payments, Sales, And Support

Yair Nechmad, the leader of Nayax, noted that UPPay’s platform fits well with Nayax’s goal of helping businesses. He said the company wants to give retailers better tools for tracking sales, handling payments, and improving customer service. He added that this deal strengthens Nayax’s presence in Brazil and expands its business.

According to the update, Nayax focuses on expanding in Latin America, where more businesses are moving to digital payments. The company said UPPay’s technology would help retailers who want to improve their vending operations.

Nayax said this acquisition would allow more businesses to use advanced payment solutions without high costs. The company stated that it remains committed to offering modern tools that support business growth in different industries.