Nayax Launches Automated Self-Service in El Salvador, Accelerating Expansion into Latin American Market

Rhea-AI Summary

Nayax (Nasdaq: NYAX; TASE: NYAX) announced the launch of its automated self-service payment solution in El Salvador, marking its expansion into the Latin American market. The company will deploy hundreds of VPOS Touch™ devices across various locations including shopping malls, office buildings, universities, hospitals, and transportation hubs. The initiative aims to enable Salvadoran operators to join Nayax's global community of over 90,000 customers, offering cashless payments and advanced loyalty programs. The company has invested in Spanish-language commercial and technical support to enhance client experience in the region.

Positive

• Expansion into new market (El Salvador) strengthening Latin American presence
• Initial deployment of hundreds of VPOS Touch™ devices across strategic locations
• Access to existing customer base of 90,000 global customers
• Investment in Spanish-language support infrastructure

Negative

• None.

Insights

Market Research Analyst

The expansion into El Salvador represents a modest market opportunity given the country's relatively small economy. While the initial deployment of hundreds of VPOS Touch devices indicates controlled market entry, the strategic value lies in establishing a foothold for broader Latin American expansion. The region's growing adoption of digital payments and large unbanked population presents significant growth potential.

The move aligns with increasing demand for cashless payment solutions in emerging markets, though revenue impact will likely be minimal in the short term. Key success factors include the company's investment in Spanish-language support and partnerships with local entities. The expansion follows Nayax's pattern of targeting underserved markets to establish early market leadership in automated retail payments.

HERZLIYA, Israel, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will launch its end-to-end automated self-service payment solution across El Salvador, enabling consumers to make secure cashless payments at automated machines with VPOS Touch™ devices.

Nayax will work with trusted local partners to enable Salvadoran operators to join our global community of more than 90,000 customers, improving their customer experience with flexible, cashless payments and advanced loyalty programs.

As an initial stage, Nayax will install hundreds of VPOS Touch™ devices in diverse locations across El Salvador, including shopping malls, office buildings, universities, hospitals, and transportation hubs.

Expansion to El Salvador is part of Nayax’s strategy to accelerate growth across the Latin American region, delivering innovative payment solutions to the rapidly growing and underserved network of automated self-service merchants. Nayax has invested deeply in full Spanish-language commercial and technical support across every line of business to streamline operations and provide the best possible client experience.

“We are proud to offer our automated self-service solutions to the Salvadoran market, marking a major milestone in our planned expansion across Latin America,” said Oren Tepper, Chief Commercial Officer of Nayax.

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 Sep 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 Nayax's (NYAX) expansion plan in El Salvador?

Nayax is launching its automated self-service payment solution in El Salvador, installing hundreds of VPOS Touch™ devices across various locations including shopping malls, offices, universities, hospitals, and transportation hubs.

How many customers does Nayax (NYAX) currently serve globally?

Nayax serves more than 90,000 customers globally according to the announcement.

What type of payment solution is Nayax (NYAX) implementing in El Salvador?

Nayax is implementing its end-to-end automated self-service payment solution using VPOS Touch™ devices, enabling secure cashless payments at automated machines.