Nayax acquires UPPay in Brazil for around $5.3m
Israeli fintech Nayax has acquired UPPay, a Brazil-based fintech specialising in payment and telemetry solutions for the unattended retail and vending industry.
Nayax announces acquisition of UPPay for around $5.3m
The all-cash deal will see Nayax pay BRL 32.75 million (around $5.3 million) for UPPay, and includes an earnout amount of up to BRL 2.75 million (around $470,000).
Nayax says the acquisition will enable the firm to “accelerate growth throughout Latin America”, with an initial focus on the Brazilian self-service market.
The deal complements Nayax’s acquisition of Brazilian fintech VMtecnologia – a Curitiba-based payment technology provider specialising in self-service retail – for $27 million back in May.
Nayax says UPPay will now “integrate operationally with VMtecnologia, consolidating both companies’ sales, distributional, and technical expertise to catalyze innovation”.
The integration is expected to support over 25,000 additional unattended points of sale in Brazil, further strengthening Nayax’s market position in the region.
Founded in 2005, Nayax’s global commerce enablement, payments, and loyalty platform is currently used in over 120 countries worldwide, serving 91,000 merchants with connections to more than 80 merchant acquirers and payment method integrations.
