CASE STUDY Nuvei powers Cashless
Payments for Nayax
“10 years ago, selling card readers was difficult. Most people were happy using cash for micro transactions. Today, especially during the COVID-19 pandemic, demand for cashless payment options is at an all-time high. Nuvei allows us to provide world-class payment processing solutions to our clients, setting us apart from the competition.”
ABOUT NAYAX
Nayax is a leading global provider of cashless payment solutions, with telemetry and a management suite for unattended automatic machines. Nayax’s features help operators improve their day-to-day operations and long-term planning, while their marketing tools assist operators in transforming unattended machines into 24/7 retail stores with consumer engagement and IoT activities. As a global company, Nayax’s goal is to provide all payment methods in each region, ensuring consumers can pay with their preferred payment method, wherever they are located.
THE CHALLENGE
With their previous processor, Nayax managed many of the backend processes related to risk management and account maintenance including: Terminal ID management, Anti-money Laundering (AML) and Know Your Customer (KYC) checks, plus customer due diligence. Nayax needed a simpler, automated process. Plus, their clients also wanted autonomy over their financials and the flexibility to negotiate better rates. Nayax’s challenge was finding a partner who could integrate payments into their solutions seamlessly, and onboard clients quickly and autonomously.
Key considerations included:
• Ability to quickly integrate with Nayax solutions
• Simplified merchant-boarding process
THE RESULTS
• Support for multiple payment options
• Quick funding cycles
• Business development and support
• Robust reporting capabilities
• Outstanding customer service
Nuvei was able to provide an integrated payment solution for Nayax cashless vending and give each client their own merchant account. Nuvei took over all the payment processing responsibilities, freeing up Nayax resources to focus on building other aspects of their business.
Since partnering with Nuvei, Nayax’s cashless transactions have grown by 60% and are expected to soar beyond that, given the current demand for safer, reliable digital payment options.
— Alex Vaserman, Technical Sales Director at Nayax
“The convenience afforded to our clients is indisputable. They no longer need to send a driver to get cash out of the machine, nor do they need to visit the bank to make a deposit. Nuvei does it for them automatically. Our clients are very happy and so are we!”
— Alex Vaserman, Nayax
HOW NUVEI MADE IT HAPPEN
Integrated Payments
Nuvei makes payment integration simple, secure, and straightforward. Our integration specialists worked with the Nayax team to ensure seamless integration via API for the Nayax card readers.
Simplified Merchant Boarding
Nuvei’s merchant boarding process makes it easy for Nayax customers to get their merchant accounts set up quickly. The automated underwriting process enables faster approvals and ensures Nayax merchants can begin processing payments as soon as they receive their card reader(s).
Multiple Payment Options
There is a growing demand for cashless vending solutions, from laundromats and car washes, to arcade games in malls where parents do not want their children handling cash. Nuvei’s ability to process multiple forms of payments has been a big plus for Nayax merchants. Even during a pandemic, they have been able to offer safer payment options to their customers including credit cards, debit cards and mobile wallets.
Express Funding
Express funding has been a game changer. It provides multiple funding cycles within the same day, meaning merchants can get their money within minutes of batching out. Previously, Nayax merchants would batch out weekly. Express Funding has improved cash flow and helped them grow their business.
Business Development
Nuvei provides various forms of support to Nayax to ensure a successful partnership. From marketing resources and tools to generate maximum referrals, to coach-based business support to capitalize on every opportunity.
Customer Service
Businesses today need more than technology to find success. They need a strong, capable, and experienced team behind them. Nuvei’s specialized technical support teams are expertly trained to provide the best service possible and are available to Nayax and their clients 24 hours a day, 7 days a week.
Reporting and Business Intelligence Tools
Relevant insights within Nuvei’s robust reporting platform helps Nayax merchants with their accounting and reconciliation needs. The ability to quickly pull reports and view transactions via the online merchant reporting dashboard, enables each merchant to stay on top of their business anytime, anywhere.
LOOKING AHEAD
Businesses thrive when they focus on what they do best. Nayax has more time to focus on growing their unattended vending business, while Nuvei takes care of their payment processing needs. They were strategic in choosing a global payment partner who could ensure their success both locally and globally. With plans to venture into new industries and new markets on the horizon, Nayax hopes to continue working with Nuvei, ensuring consumers can pay with their preferred payment method, wherever they are in the world.
Meet Nuvei: Our future-proof technology allows businesses to accept cutting-edge payment options, optimize new revenue streams, and get the most out of your existing stack—all on one platform.