Nayax Enables Discover® Global Network Cardholders to Use Their Preferred Payment Method Across EMEA

Rhea-AI Summary

Nayax (Nasdaq: NYAX; TASE: NYAX) has expanded its collaboration with Discover® Global Network to accept Discover®, Diners Club International® and network alliance cards at Nayax payment devices across EMEA. This partnership gives access to 345 million Discover Global Network Cardholders, representing over $589 billion in global spend in 2023.

The collaboration enables Discover Global Network, which is accepted at more than 70 million merchant locations worldwide across 200+ countries, to gain access to automated self-service payment devices. This expansion aims to provide consumers with more payment options while creating growth opportunities for both companies.

Positive

• Access to 345 million Discover Global Network cardholders
• Exposure to $589 billion in global spend (2023)
• Expansion into EMEA markets through Discover's network of 70+ million merchant locations

Negative

• None.

Insights

Financial Analyst

The expanded partnership with Discover Global Network represents a significant growth opportunity for Nayax in the EMEA region. With access to $589 billion in global spend and 345 million cardholders, this collaboration could substantially increase Nayax's transaction volume and revenue potential. The integration into automated self-service payment devices opens up a new market segment for Discover while providing Nayax merchants with expanded payment options.

The strategic value lies in Nayax's positioning as a comprehensive payment solution provider. By adding Discover, Diners Club International and network alliance cards to their acceptance network, they're strengthening their competitive advantage in the unattended retail space. This move aligns with the growing trend toward contactless and automated payments, particularly in the post-pandemic environment.

Market Research Analyst

The timing of this expansion is strategically sound, capitalizing on the rapid growth of unattended retail and self-service payment solutions in EMEA. The collaboration addresses a important market need by bridging the gap between traditional card networks and automated retail environments. With Discover's presence in 200+ countries and acceptance at 70 million merchant locations, this partnership significantly enhances Nayax's value proposition to merchants looking to maximize payment acceptance.

The focus on EMEA is particularly noteworthy as this region shows strong growth potential in automated retail solutions. This move could help Nayax capture a larger share of the expanding self-service market while providing Discover with strategic entry points into new merchant categories.

HERZLIYA, Israel, Dec. 10, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement payments and loyalty platform designed to help merchants scale their business, today announced an expanded collaboration with Discover^® Global Network, to accept Discover^®, Diners Club International^® and network alliance cards at Nayax payment devices across EMEA.

This collaboration unlocks potential growth opportunities for both Nayax and Discover Global Network. Nayax enhances its customers’ ability to serve 345 million Discover Global Network Cardholders¹,with more than $589 billion in global spend in 2023. Discover Global Network is accepted at more than 70 million global merchant locations worldwide and millions of additional micro-merchants connected to marketplace and payment facilitators² across 200+ countries and territories. Through this collaboration, they now gain access to automated self-service payment devices worldwide.

“This is very exciting news for consumers across EMEA,” says Oren Tepper, Chief Commercial Officer at Nayax. “Our expanded collaboration with Discover is just one of many steps Nayax is taking to ensure consumers can use their preferred payment method at our locations.”

“Our expanded acceptance with Nayax allows cardholders access to the automated self-service industry across EMEA,” said Rajiv Gupta, Head of International Markets (EMEA) at Discover. “Discover Global Network is committed to expanding global acceptance for customers around the world and this collaboration with Nayax is a further important step in giving our global cardholders greater choice when they use their cards.”

^{1 Based on data provided to Discover by Network Alliances participants and other third-party sources as of December 31, 2023
2 Based on data provided to Discover by merchants, acquiring institutions and other third parties as of December 31, 2023.}

About Nayax

Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers' growth across multiple channels. As of June 30, 2024, Nayax has 11 global offices, approximately 1,100 employees, connections to more than 80 merchant acquirers and payment method integrations and globally recognized as a payment facilitator. Nayax's mission is to improve our customers' revenue potential and operational efficiency. For more information, please visit www.nayax.com

Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to of various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID-19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including the ongoing war in Israel that began on October 7, 2023 and global perspectives regarding that conflict; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; and other risk factors discussed under “Risk Factors” in our annual report on Form 20-F filed with the SEC on February 28, 2024 (our “Annual Report”). The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under “Risk Factors” in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.

Public Relations Contact:
Scott Gamm
Strategy Voice Associates
Scott@strategyvoiceassociates.com

Investor Relations Contact:
Aaron Greenberg
Chief Strategy Officer
IR@nayax.com

FAQ

What is the impact of Nayax's (NYAX) partnership with Discover Global Network?

The partnership enables Nayax to access 345 million Discover Global Network cardholders and $589 billion in global spend, while expanding payment acceptance across EMEA regions.

How many merchant locations does the Discover Global Network cover for Nayax (NYAX)?

Discover Global Network is accepted at more than 70 million global merchant locations across 200+ countries and territories.

What payment cards will be accepted at Nayax (NYAX) devices through this collaboration?

Nayax devices will accept Discover®, Diners Club International® and network alliance cards across EMEA regions.