Nayax Increases Footprint in Brazil With Acquisition of UPPay
Nayax said Friday (Feb. 28) that it has acquired UPPay to increase its footprint in Brazil and unlock new opportunities across Latin America.
Nayax is a global commerce enablement and payments platform with 11 global offices and connections to more than 80 merchant acquirers and payment method integrations, while UPPay is a digital payment and telemetry provider for automated self-service coffee machines in Brazil, the companies said in a Friday press release.
The acquisition of UPPay will add 25,000 new unattended points of sale in Brazil to those already served by Nayax and VMtecnologia, a technology provider for the automated self-service industry in Brazil that Nayax acquired in 2024, according to the release.
It will also provide Nayax with a technology platform that has “global relevance,” the release said.
Nayax entered the Brazilian market with its purchase of VMtecnologia and now has a presence that includes more than 2,400 retailers in a variety of industries and 466 cities spanning all Brazilian states, per the release.
UPPay will be integrated with VMtecnologia, with the companies’ sales, distribution and technical expertise being consolidated, according to the release.
“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,” Nayax CEO and Chairman Yair Nechmad said in the release. “Uniting with UPPay cements our leadership position in a key growth market and drives our continued expansion.”
When Nayax announced its acquisition of VMtecnologia in March, it said the move would help Nayax enhance its global footprint by extending its offerings in Latin America and enabling it to enter the region “with a strong and immediate market presence.”
The acquisition also offered VMtecnologia a chance to leapfrog into a wider customer base with an enriched portfolio and expertise in payments.
In October 2023, Nayax announced its agreement to acquire retail point of sale (POS) software firm Retail Pro International, saying it would significantly expand Nayax’s global reach in attended retail and enhance its distribution network by tripling the number of POS lanes to 150,000.
Nayax said the acquisition of Retail Pro aligned with its growth strategy to scale its retail business and expand its global footprint.
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