June 6, 2014

Nayax and Telit to Expand Cashless Payment Services into Hundreds of Vending Machines in Scandinavia

Scandinavia Latest Country to Install Machine-to-Machine (M2M) Cashless Vending Machines with Thousands More in Use throughout Europe, the US and Africa

Tel Aviv, Israel, September 19, 2012 Nayax’s Nayaxvend Cashless Payment solution, which integrates Telit’s GC-864 Quad V2 compact module, provides vending machine operators with wireless cashless payment services. As a solution installed in each vending machine, Nayaxvend is compatible with all forms of credit, debit, prepaid and postpaid cards, and can be used in contact, swipe and contactless transactions. The Nayaxvend Cashless Payment solution provides a wide array of alerts and notifications that can be sent by SMS or email.

Selecta Nordic operates vending machines in Sweden, Norway, Denmark and Finland. The combined Nayaxvend-Telit solution has already been installed in 200 vending machines in Scandinavia, with additional machines slated to be equipped with it in the coming months.

"Using the cashless solution helps us increase revenues and decrease operational costs," said Catherine Sahlgren, Managing Director, Selecta Nordic. "The cashless payment system eliminates sales barriers, such as the lack of coins and change, and provides us with better control of the vending machines."

The Telit GC864 product family is one of the smallest GSM/GPRS quad-band ¬modules with industrial connectors on the market. With its ultra-compact design and extended temperature range, the GC864-QUAD V2 is the perfect platform for medium-volume M2M applications and mobile data devices. Additional features, such as an integrated TCP/IP protocol stack and a serial multiplexer, provide extended application functionality at no additional cost.

"The installation of Nayaxvend with Telit’s modules in Selecta Nordic’s vending machines is another example of how M2M communications can help people make better use of machines in public places, while also bringing business benefits to equipment operators," said Dominikus Hierl, CMO at Telit. "This latest vertical M2M application proves once again the societal benefits of having real-time information delivered wirelessly to decision-makers, providing them comprehensive understanding of specific situations so they can productively move forward with confidence."

"We chose Telit’s modules due to their very high performance and reliability, enabling us to provide our customers with best-in-class solutions at the forefront of technology," said Yair Nechmad, Nayax’s founder. "By applying our high data security standards, we assure the strongest protection for the data transferred from the vending machine."

According to Nayax, the US vending machines market comprises 5 million machines with annual sales totalling $22 billion. The number of vending machines in Europe is 4 million, generating annual sales of $10 billion.

Nayax solutions have been installed in thousands of vending machines scattered throughout Europe, the US, UK, Africa and Scandinavia.

As the industry’s only technology company dedicated solely to M2M, with its wireless module technology and newly launched value-added services, Telit enables solution providers to easily create and manage their M2M applications reducing total-cost-of-ownership (TCO) necessary to operate and support user-applications while ensuring highest quality and reliability.

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