SafeCharge ups investment in cashless payment solutions provider Nayax to $24.5 million

Cashless payment solutions provider Nayax establishes Europe operations in Lithuania

Payments services and technologies provider SafeCharge International Group Ltd (LON:SCH) has announced that it has invested further in Nayax Ltd., a leading global cashless payment solutions provider for the unattended machine industry.

SafeCharge made its initial investment in Nayax in December 2016 and today’s follow-on investment takes the total investment by SafeCharge to approximately USD $24.5 million, in order to support Nayax’s strong growth and international expansion in cashless payment solutions.

The investment in Israel-based Nayax is a cornerstone of SafeCharge’s omni-channel strategy. SafeCharge, which is one of the leaders in online payments, has a strategy to expand within the offline market by focusing on the high growth “cashless” sub-segment and cashless payments for the unattended machine industry in which Nayax specialises. SafeCharge’s investment will support Nayax’s growth and will strengthen the operational collaboration between the two companies, with expected processing of more than €500 million of Nayax transactions through the SafeCharge Acquiring platform over the next four years.

Safecharge CEO results

David Avgi, SafeCharge

Commenting on the transaction SafeCharge’s chief executive, David Avgi, said:

We are excited to play a key role in the enablement of contactless payments through our card acquiring platform. This investment follows a successful processing of Nayax through our platform in 2017. Nayax technology is helping unattended commerce to grow globally, helping consumers on-the-go to pay for low ticket items quickly and securely thanks to their unique cashless and telemetry technology.

Yair Nechmad,CEO Nayax

Yair Nechmad, CEO, Nayax

Commenting on the transaction Nayax’s chief executive, Yair Nechmad, said:

We selected SafeCharge as our preferred card acquirer and strategic investor. Safecharge’s unparalleled conversion rate, service quality, superior analytics and fully transparent financial reporting are key for the optimised operation of our business. Our unique partnership has enabled us to accelerate our growth and we look forward to continuing to collaborate closely with Safecharge.

Read Also: