Nayax
| Company type | Public |
|---|---|
| Industry | Fintech, Payment systems, Business intelligence |
| Founded | 2005 |
| Founder | Yair Nechmad, David Ben Avi |
| Headquarters | Herzliya , Israel |
Area served | International (including United States, United Kingdom, Germany, Japan, China, Australia, New Zealand, Turkey) |
Key people | Yair Nechmad (CEO), David Ben Avi (CTO) |
| Products | POS terminals, telemetry, operational management solutions, business intelligence solutions, EV charging solutions (EV Meter), Monyx Wallet, Coinbridge, PayMarket Kiosk, VPOS Fusion |
| Website | www |
Nayax Ltd is an international fintech enterprise specializing in cashless payment systems, telemetry, operational management, and business intelligence (BI) solutions tailored for vending machines, unattended retail environments, and associated sectors.
The company’s primary offerings encompass point of sale (POS) terminals that facilitate payments via swipe cards, contactless cards, and mobile NFC technology.
Overview
Established in 2005 in Tel Aviv by founders Yair Nechmad (CEO) and David Ben Avi (CTO), Nayax is headquartered in Herzliya, Israel. It maintains subsidiaries in key markets including the United States, United Kingdom, Germany, Japan, China, Australia, and New Zealand.
By 2015, Nayax had distributed 43,000 POS terminals worldwide, earning the 36th position in The Nilson Report’s global POS terminal shipment rankings. The company obtained a Payment Institution license from the Bank of Lithuania in 2018 and secured the Mastercard European Issuer License in 2022.
Initially concentrating on vending and unattended retail services, Nayax has broadened its product range and market focus to incorporate electric vehicle (EV) charging solutions through EV Meter; mobile payment applications via the 2020 launch of Monyx Wallet; retail marketing capabilities following the acquisition of Weezmo in 2021; and financial services introduced with Coinbridge in 2022.
In 2021, Nayax completed the largest technology initial public offering (IPO) ever recorded on the Tel Aviv Stock Exchange (TASE), followed by a dual listing on Nasdaq under the ticker symbol NYAX in 2022.
Awards
In 2015, Nayax shipped 43,000 POS devices, ranking it 36th globally according to The Nilson Report's 2016 survey.
Nayax’s VPOS solution was honored as Best Payment System in the UK at the Vendies awards hosted by Vending International in August 2016.
At the u’vend and coffeena Exhibition in Cologne, Germany, May 2017 saw Nayax receive the Best Concept accolade during the Vending Star awards.
The company earned the Best Payment System of the Year award again in June 2017 at the UK Vendies for its VPOS device.
In November 2017, Nayax’s VPOS Touch was recognized as Best Payment System of the Year at EVEX 2017.
October 2018 brought another Vendies Award for Best Payment System of the Year in the UK for Nayax’s VPOS Touch device.
At EVEX 2018 in November, Nayax won Best Payment System of the Year for its Onyx device.
The VPOS Touch secured Best Payment System of the Year again at the Vendies awards held in April 2021.
In 2022, Nayax received the Self-Service Innovation Award for Best COVID-19 Solution for its Monyx Wallet application.
Acquisitions, Expansion, and IPO
Nayax expanded its footprint by acquiring InOne Technologies LLC in April 2014, which led to establishing its US branch as Nayax LLC. The company extended its capabilities further by purchasing vending software provider VendSys in July 2016. That year also saw its product VPOS gain recognition as Best Payment System at the UK Vendies awards. In December 2016, SafeCharge International Group Ltd. invested as a minority stakeholder to support Nayax’s growth initiatives.
In early 2017, Nayax acquired VendCheck and launched its Australian subsidiary named Nayax Australia. The years 2020 and 2021 marked additional growth via acquisitions of Tel Aviv-based digital payment startup Modularity and Israeli technology firm Weezmo—both moves enhancing product diversity and expanding market reach.
The company’s public offering on TASE in 2021 was notable as the largest IPO within Israel’s high-tech sector to date, raising $210 million with a valuation of $1 billion. This offering attracted predominantly foreign investors (75%) and was led by US investment bank Jefferies alongside Israeli firms Oppenheimer and Leader Capital Markets. That same year included a partnership with Tigapo to deploy cashless payment solutions at amusement venues.
In 2022, Nayax acquired On Track Innovations (OTI) and launched CoinBridge—a financial service enabling conversion of virtual assets into fiat currency—supported by a Mastercard European Issuer License. Additionally, the company debuted on Nasdaq stock exchange that year, marking a major milestone for its international operations.
By 2023, Nayax forged a strategic alliance with Düzey of Koç Holding to strengthen its presence within Turkey. Later that year it finalized acquisition of Retail Pro International—a global leader providing retail POS software to Tier 1 clients worldwide.
These calculated acquisitions and partnerships have played a pivotal role in advancing Nayax’s strategic objectives by bolstering competitive positioning and broadening its global presence across fintech and retail technology sectors.
Product Info
In 2017, Nayax broadened its range of offerings by introducing the PayMarket Kiosk, a self-service checkout system designed to improve unattended retail experiences.
By 2019, the company unveiled VPOS Fusion, a sophisticated payment processing solution tailored for various vending and retail settings.
In 2022, Nayax launched Coinbridge, an innovative platform that facilitates the conversion of virtual assets into tangible cash transactions on a global scale, enhancing its portfolio in financial technology.
Also in 2022, Nayax Capital was established to provide customized financial solutions aimed at fostering business expansion, marking a strategic move toward diversification within the company’s operations.