Israeli payments platform Nayax has acquired UPPay for an enterprise value of 32.75m reais ($5.3m).
The consideration is payable with cash reserve and includes an earnout amount of up to 2.75m reais (around $0.47m).
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UPPay offers an “economical, scalable, customisable,” and telemetry solution for automated self-service coffee machines in Brazil.
This move aims to strengthen Nayax’s Brazilian footprint and explore new market opportunities across Latin America.
Nayax forayed into the Brazilian market in 2024 through the acquisition of VMtecnologia, a technology provider for the automated self-service industry.
This earlier acquisition established a presence in Brazil, with reach across all states, 466 cities, and more than 2,400 retailers in diverse industries.
The move will integrate UPPay with VMtecnologia and consolidate the sales, distribution, and technical expertise of both companies.
With the addition, all the entities together will now serve over 25,000 new unattended points of sale in Brazil, the release stated.
Nayax CEO and chairman Yair Nechmad said: “UPPay’s sophisticated yet affordable platform complements our vision of empowering retailers of all sizes with real-time operational insights, streamlined payments, and seamless customer experiences. Uniting with UPPay cements our leadership position in a key growth market and drives our continued expansion.”
UPPay founders stated: “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.”
Last month, Nayax also launched Nova Modu, a handheld modular POS device designed to scale with the needs of any attended retail business.
