Israeli fintech Nayax has announced the acquisition of UPPay, a Brazil-based payment and telemetry solutions provider for unattended retail and vending industries. This strategic move strengthens Nayax’s presence in Latin America and accelerates its expansion in the region’s self-service market.
Strategic Acquisition for Market Growth
The deal, valued at approximately $5.3 million (BRL 32.75 million), is an all-cash transaction and includes an additional earnout of up to $470,000 (BRL 2.75 million). This follows Nayax’s recent acquisition of Brazilian fintech VMtecnologia for $27 million, further consolidating its presence in the country.
By integrating UPPay’s operations with VMtecnologia, Nayax aims to enhance its service offerings, leverage combined sales and distribution networks, and drive innovation in unattended payment solutions. The combined platform will now support over 25,000 additional unattended points of sale across Brazil, cementing Nayax’s leadership in the country’s self-service retail sector.
Enhancing Payment and Telemetry Solutions
UPPay specializes in affordable, scalable, and customizable telemetry solutions for automated retail, particularly self-service coffee vending machines. The acquisition allows Nayax to introduce cost-effective and advanced payment and telemetry solutions tailored to the needs of emerging markets, ensuring seamless transactions and real-time operational insights.
With its growing portfolio, Nayax is committed to providing retailers of all sizes with the tools needed to optimize revenue, streamline operations, and improve customer engagement. This expansion aligns with the company’s mission to simplify payments and maximize merchant growth through digital innovation.
Executive Insights on the Acquisition
Yair Nechmad, CEO and Chairman of Nayax, commented: “Bringing UPPay into our ecosystem strengthens our ability to serve the growing unattended retail sector in Brazil and beyond. Their technology perfectly aligns with our vision of delivering seamless, real-time payment solutions to businesses of all sizes.”
Eduardo Muniz, CEO of VMtecnologia, emphasized the synergy between the companies, stating: “With UPPay’s expertise in telemetry and self-service vending solutions, we can now offer an even more robust suite of payment solutions to unattended retailers in Latin America.”
UPPay’s founders also expressed enthusiasm about the partnership, adding: “Joining forces with Nayax gives us the opportunity to scale our technology globally while continuing to innovate for our customers.”
Global Expansion and Future Outlook
Founded in 2005, Nayax operates in over 120 countries, serving 91,000 merchants with integrations to 80+ payment providers. With this acquisition, Nayax is set to capitalize on Brazil’s booming unattended retail sector while reinforcing its role as a global leader in digital payment solutions.
By expanding its reach in Latin America and enhancing its payment and telemetry capabilities, Nayax is well-positioned to drive further growth and innovation in unattended retail, offering businesses greater efficiency and consumers a frictionless purchasing experience.
