Nayax and SECO announce a strategic partnership to integrate payment solutions in SECO's IoT devices for automated self-service retail.
Quiver AI Summary
Nayax Ltd. and SECO S.p.A. have signed a Memorandum of Understanding to form a strategic partnership aimed at integrating Nayax's payment solutions into SECO’s product offerings, beginning with a smart screen designed for vending machines and automated retail. This collaboration will enable combined IoT solutions that facilitate seamless, secure payments alongside advanced machine management and AI-driven analytics for businesses utilizing self-service points of sale. The partnership will provide OEMs with optimized hardware and payment infrastructure, making it easier to implement these capabilities across various sectors, including vending and electric vehicle supply. Nayax's Chief Commercial Officer Oren Tepper and SECO's Head of IoT & AI Europe Fausto Di Segni emphasized the transformative potential of this partnership at the upcoming Embedded World Trade Show. The integration aims to reduce operational costs and enhance competitive advantages for mutual clients.
Potential Positives
- Nayax and SECO have entered a strategic partnership to embed Nayax-powered payments in SECO's products, expanding Nayax's presence in the automated self-service retail sector.
- The collaboration aims to deliver integrated IoT solutions that combine payments, remote management, and AI-driven analytics, enhancing operational efficiency for enterprises.
- This partnership taps into SECO's extensive OEM network, which could significantly broaden Nayax's commercial reach and accelerate the adoption of its payment platform in high-demand markets.
Potential Negatives
- The press release primarily focuses on a partnership announcement, which may be interpreted as a lack of independent innovation or significant developments within Nayax itself, potentially raising concerns about the company's future growth prospects.
- The dependence on SECO’s technology for the integration of Nayax's payment solutions could limit Nayax’s control over its offerings and its ability to differentiate itself in the market.
- The announcement does not disclose any specific financial terms or expectations from the partnership, which may lead to questions about the potential impact on Nayax’s revenue and profitability.
FAQ
What is the MOU between Nayax and SECO about?
The MOU aims to establish a long-term partnership to integrate Nayax payments into SECO products, enhancing self-service retail solutions.
How will this partnership benefit OEMs?
OEMs will gain access to cost-optimized hardware and integrated payment solutions, streamlining operations and reducing costs for their end customers.
Where can OEMs learn more about Nayax and SECO's solutions?
OEMs can visit SECO at booth 320 in hall 1 at the Embedded World Trade Show in Nuremberg from March 11-13.
What industries will be impacted by this partnership?
This partnership will primarily benefit verticals like vending, coffee, and electric vehicle supply equipment through integrated payment solutions.
What is Nayax's mission?
Nayax's mission is to improve customers' revenue potential and operational efficiency by providing innovative payment and loyalty solutions.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
HERZLIYA, Israel and AREZZO, Italy, Jan. 27, 2025 (GLOBE NEWSWIRE) --
Nayax Ltd.
(Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and
payments platform
designed to help merchants scale their business by simplifying payments and maximizing
loyalty
, and
SECO S.p.A.
(IOT.MI), a leading provider of end-to-end technological solutions for industrial digitalization, today announced the execution of a Memorandum of Understanding, (“MOU”), with the intention to establish a long-term strategic partnership to embed Nayax-powered payments directly within SECO products, starting with a payment-enabled smart screen designed as a convenient all-in-one solution for the next generation of intelligent vending machines,
micro markets
, smart coolers, and automated self-service retail machines.
Together,
Nayax
and SECO plan to deliver comprehensive, fully integrated IoT solutions which combine seamless and secure payments with remote machine management and AI-driven business intelligence for any enterprise with
automated self-service points of sale
. OEMs will gain access to differentiated, cost optimized hardware which contains a combination of SECO’s industry-leading IoT capabilities and Nayax’s versatile payment platform.
Embedding Nayax’s payment infrastructure within SECO’s products will also empower businesses to manage their payment flows and automated self-service points of sale through
Clea
, SECO’s end-to-end IoT-AI software platform that securely collects, analyzes, and manages connected device data in real time to enable intelligent automation and cross-functional business insights. Together, Nayax and SECO will offer an unbeatable joint value proposition of lower operational costs, advanced telematics, and flexible integrated payments, built for easy integration by
OEMs
across their product lineups.
“Our partnership with SECO propels Nayax toward new frontiers in automated self-service retail, harnessing SECO’s extensive OEM network to extend our commercial reach into high-demand markets worldwide and accelerate broader adoption of our embedded payment platform,” said Oren Tepper, Chief Commercial Officer of Nayax. “We’re proud to work with SECO to offer game-changing, fully embedded payment solutions which unify telematics, analytics, and frictionless transactions under one umbrella.”
“Partnering with Nayax allows SECO to embed a versatile and powerful global payment platform directly into our connected screens and devices, bolstering our competitive position and delivering exceptional value for our OEM customers across key verticals like
vending
, coffee, and
electric vehicle supply equipment
,” said Fausto Di Segni, Head of IoT & AI Europe at SECO. “We will unite robust IoT management, engaging displays, and embedded payments to streamline deployment and cut costs for OEMs and their end-customers.”
Nayax invites OEMs to visit SECO at booth 320 (hall 1) at the Embedded World Trade Show in Nuremberg from March 11-13 to learn how Nayax and SECO’s full suite of solutions can transform business operations and provide a competitive edge.
SECO
SECO (IOT.MI) is a high-tech company that develops and manufactures cutting-edge solutions for the digitalization of industrial products and processes. SECO’s hardware and software offerings enable B2B companies to easily introduce edge computing, Internet of Things, data analytics, and artificial intelligence to their businesses. SECO’s technology spans across multiple fields of application, serving more than 450 customers across sectors such as medical, industrial automation, fitness, vending, transportation, and many others. Through live monitoring and smart control of in-the-field devices, SECO solutions contribute to low environmental impact business operations via a more efficient use of resources.
For more information:
http://www.seco.com/
Contacts
SECO S.p.A.
Clarence Nahan
Head of Corporate Development & Investor Relations
Tel. +39 0575 26979
investor.relations@seco.com
Nayax
Nayax is a global commerce enablement, payments and
loyalty platform
designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance,
management suite
, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers' growth across multiple channels. As of September 30, 2024, Nayax has 11 global offices, approximately 1,100 employees, connections to more than 80 merchant acquirers and payment method integrations and globally recognized as a payment facilitator. Nayax's mission is to improve our customers' revenue potential and operational efficiency — effectively and simply. For more information, please visit
www.nayax.com
.
Nayax Public Relations Contact:
Scott Gamm
Strategy Voice Associates
Scott@strategyvoiceassociates.com
Nayax Investor Relations Contact:
Aaron Greenberg
Chief Strategy Officer
IR@nayax.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/3fab6cfe-bda4-4924-9bdb-3919f6e92505
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
