Nayax announces strategic acquisition of Brazil-based UPPay, strengthening its position in the Latin American market
Nayax Ltd, a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, announced the acquisition of UPPay, a leading digital payment and telemetry provider for automated self-service coffee machines in Brazil. This strategic acquisition will significantly increase Nayax’s Brazilian footprint and unlock new market opportunities across Latin America with a sophisticated suite of affordable solutions.
UPPay offers an economical, scalable, customizable, and comprehensive telemetry solution for automated self-service machines, making it ideal for businesses seeking affordable yet modern technology. Acquiring UPPay enables Nayax to accelerate growth throughout Latin America with an accessible solution tailored to emerging, digitizing economies, enhancing its competitive edge as a leading retail innovator in Brazil and beyond.
UPPay is a leader within Brazil’s lucrative and growing automated self-service coffee market. With the acquisition of UPPay, Nayax and VMtecnologia will serve more than 25,000 new unattended points of sale in Brazil, achieve a prominent position in Brazilian self-service coffee, and acquire a technology platform with global relevance. The purchase price, equating to an enterprise value of R$ 32.75 million BRL (~$5.3 million USD), will be paid with cash on hand and includes the earnout amount of up to $2.75 million (~$0.47 million USD).
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Nayax entered the Brazilian market in 2024 when it acquired VMtecnologia, a leading technology provider for the automated self-service industry in Brazil, consolidating a strong and immediate presence spanning all Brazilian states, 466 cities, and more than 2,400 retailers in diverse industries. UPPay will integrate operationally with VMtecnologia, consolidating both companies’ sales, distributional, and technical expertise to catalyze innovation, offer a wider combined range of solutions, target new verticals like coffee vending, and improve margins with synergies.
“Our success in the Brazilian coffee vending market has proven that businesses and operators are hungry for affordable, fully integrated payment and telemetry solutions,” said the founders of UPPay. “We see Nayax as a global leader in automated self-service retail, and joining forces with them positions us to replicate this success worldwide, leveraging their powerful distribution network, comprehensive payments ecosystem, and extensive operational expertise.”
“Welcoming UPPay empowers VMtecnologia to serve a broader spectrum of automated self-service retailers with a wider, more flexible set of payment, telemetry, and operational solutions,” said Eduardo Muniz, CEO of VMtecnologia.
“UPPay’s sophisticated yet affordable platform complements our vision of empowering retailers of all sizes with real-time operational insights, streamlined payments, and seamless customer experiences,” said Yair Nechmad, CEO and Chairman of Nayax. “Uniting with UPPay cements our leadership position in a key growth market and drives our continued expansion.”
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 December 31, 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.
UPPay offers an economical scalable, customizable, comprehensive telemetry solution for unattended machines. Designed to cater to the diverse needs of unattended retail environments, mainly coffee machines, UPPay provides seamless and cost-effective services that enhance operational efficiency and customer satisfaction. UPPay’s platform adapts effortlessly from small-scale operations to extensive vending networks, ensuring optimal performance and cost-efficiency. UPPay’s flagship hardware, the UPBox, unlocks intelligent analytics, offering valuable insights into consumer behavior and machine performance.
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