US-based Payment Solution Provider Nayax Raises $60 Million

US-based Payment Solution Provider Nayax Raises $60 Million

Robert Brinson

Fintech firm Nayax has raised $60 million in its latest investment round, bringing its valuation to $400 million.

Since its inception in 2015, US-based Nayax has raised $30 million. Previously it had $24.5 million in February 2018.

Nayax is a service provider of cashless payment devices, telemetry, remote management, and Business Intelligence (BI) solutions. Nayax’s devices are sold in over 50 countries. It has formed a partnership with payment processors across the world, which helps it cashless services at low rates.

It provides a complete package of services including SIM cards, ensuring connectivity, carrying out credit card transactions as well as software for running a network of vending machines.

Nayax solutions permit a range of payment methods so that no customer is left disappointed. Payments are allowed in both credit and debit cards, through contact, swipe, and contactless modes of payment, through mobile apps, and also QR codes.

Nayax’s solutions provide real-time status updates and alert customers to any unusual event such as vending machine breakdown, damage, tampering, etc.

Nayax employs analytics tools to analyze the history of sales to point out any inventory issues that may arise. Analytics tools also help to correlate product price and cost, which helps the company in making better decisions regarding the pricing of products. Updates after every transaction save repeated trips to the vending machines.

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