Nayax Expands in Brazil with UPPay Acquisition, Taps into New Payment Points

Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform, has announced a strategic acquisition that will significantly enhance its presence in the Brazilian market and open up new opportunities across Latin America. The company has acquired UPPay, a leading digital payment and telemetry provider for automated self-service coffee machines in Brazil, for an enterprise value of R$ 32.75 million BRL (~$5.3 million USD).

This acquisition follows Nayax's entry into the Brazilian market in 2024 through the acquisition of VMtecnologia, a leading technology provider for the automated self-service industry. With the integration of UPPay, Nayax and VMtecnologia will serve more than 25,000 new unattended points of sale in Brazil, achieving a prominent position in the Brazilian self-service coffee market and acquiring a technology platform with global relevance.

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.

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). Nayax entered the Brazilian market in 2024 when it acquired VMtecnologia, 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.

The founders of UPPay expressed their enthusiasm about joining forces with Nayax, stating, "Our success in the Brazilian coffee vending market has proven that businesses and operators are hungry for affordable, fully integrated payment and telemetry solutions. 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."

Eduardo Muniz, CEO of VMtecnologia, also welcomed the acquisition, noting that it empowers VMtecnologia to serve a broader spectrum of automated self-service retailers with a wider, more flexible set of payment, telemetry, and operational solutions. Yair Nechmad, CEO and Chairman of Nayax, emphasized that uniting with UPPay cements the company's leadership position in a key growth market and drives continued expansion.



The strategic acquisition of UPPay by Nayax aligns with the company's long-term growth strategy, expanding its presence in the Brazilian market and opening up new opportunities in Latin America. By integrating UPPay's advanced, cost-effective telemetry solutions with its existing offerings, Nayax can expand its services to over 25,000 new unattended points of sale and strengthen its competitive position in the growing Brazilian coffee vending market. However, Nayax may face potential challenges in integrating UPPay's operations and technology, such as operational integration, cultural integration, technological integration, and market adaptation.

In conclusion, Nayax's acquisition of UPPay is a strategic move that will significantly enhance the company's competitive position in the Brazilian market and open up new opportunities across Latin America. By integrating UPPay's advanced, cost-effective telemetry solutions with its existing offerings, Nayax can expand its services to over 25,000 new unattended points of sale and strengthen its competitive position in the growing Brazilian coffee vending market. However, the company must address potential challenges in integrating UPPay's operations and technology to ensure a successful acquisition and continued growth.