Nayax Ltd, a global commerce enablement, payments, and loyalty platform, has officially completed its acquisition of VMtecnologia, the Brazil-based technology provider for the automated self-service industry.
This strategic acquisition, first announced in March, signals Nayax’s expansion into the Latin American market; leveraging VMtecnologia’s long-established position in the region. As of February 2024, VMtecnologia served over 2,400 retailers across all 27 states in Brazil and over 466 cities.
Established in 2011, VMtecnologia delivers ‘plug-and-play’ solutions for self-service points of sale, delivering its end-to-end solution for small and medium-sized retailers.
Following this expansion, Nayax will now serve over 18,300 additional unattended points of sale, including vending machines, micro markets, autonomous laundromats, and the electronic entertainment sector. The deal could cost Nayax approximately $27million (R$137.5million BR) in total.
Yair Nechmad, CEO and chairman of the board at Nayax, commented: “Leveraging our nearly two decades of expertise in the payments industry, we are committed to enhancing the Brazilian market with innovative solutions and are excited about further deepening our presence in this key region over the coming years. Under VMtecnologia CEO Eduardo Muniz‘s seasoned leadership, we are poised to make substantial advancements in the automated self-service payments space in Latin America.”
Established in 2005, Nayax started as a cashless payment, IoT service and management solution provider for unattended retail, but quickly expanded to the likes of China, the UK, Japan and Germany in the decade that followed, and now serves merchants across the globe.
Eduardo Muniz, CEO of VMtecnologia, also said: “Joining forces with Nayax represents a transformative step for our growth. With today’s strategic partnership, we transition into a new era where we are firmly backed by the global leader in automated self-service payments.
“Nayax’s cutting-edge technology and expertise in payments will propel us into the next phase of our expansion. We are eager to introduce our customers to a broader range of products, diversified payment options, and enhanced consumer loyalty programmes.”
