SafeCharge Increases its Stake in Israeli Tech Company Nayax

Payment service provider SafeCharge (LSE: SCH) is making good ‎progress with its strategy to win Tier 1 customers within new target verticals ‎and markets. Today the AIM-listed company announced its follow-on investment in ‎Nayax Ltd, an Israeli technology company that specializes in providing ‎credit card payment systems for vending machines.‎

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According to a company statement, SafeCharge raised its bet on Nayax’s cashless payment solutions and its total ‎investment now stands at $24.5 million.‎

The new infusion of funds will accelerate Nayax’s fast growth. Since taking ‎an initial investment from SafeCharge ‎one year ago, Nayax solutions ‎have been integrated with SafeCharge’s cards acquiring and Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term ‎platform to deliver a scalable solution for unattended payments in over ‎‎200,000 devices worldwide, operating in more than 50 countries and 26 ‎currencies.‎

The Tel Aviv-based company was founded in 2005 and its headquarters are ‎located in Hunt Valley, USA, while its main client base is in Europe. The ‎company has R&D and manufacturing bases in Israel and beyond, including ‎the US, UK, China, Italy and Germany.‎

Nayax’s main business line is development, manufacturing and sales of ‎cashless payment and telemetry systems, as well as relevant equipment. ‎

SafeCharge CEO David Avgi comments on the new investment: "We ‎are excited to play a key role in the enablement of contactless payments ‎through our card acquiring platform. This investment follows a successful ‎processing of Nayax through our platform in 2017. Nayax technology is ‎helping unattended commerce to grow globally, helping consumers on-the-‎go to pay for low ticket items quickly and securely thanks to their unique ‎cashless and telemetry technology‏."

Nayax's CEO Yair Nechmad, ‎adds‏: “We selected SafeCharge as our preferred card acquirer and strategic ‎investor. Safecharge's unparalleled conversion rate, service quality, ‎superior Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term and fully transparent financial reporting are key for the ‎optimised operation of our business. Our unique partnership has enabled us ‎to accelerate our growth and we look forward to continuing to collaborate ‎closely with Safecharge."‎