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Nayax has acquired UPPay, a Brazilian digital payment and telemetry provider for self-service coffee machines, in a deal valued at BRL 32.75 million (approx. $5.3 million).
The acquisition strengthens Nayax’s presence in Brazil and opens new market opportunities across Latin America.
The deal will enable Nayax and VMtecnologia to serve over 25,000 new unattended points of sale in Brazil and strengthen their position in the Brazilian self-service coffee market. The BRL 32.75 million purchase will be paid in cash and includes an earnout of up to BRL 2.75 million (approx. $0.47 million).
Nayax entered the Brazilian market in 2024 through its acquisition of VMtecnologia, a technology provider for Brazil's automated self-service industry. This move established a strong presence across all Brazilian states, 466 cities and over 2,400 retailers. UPPay will integrate with VMtecnologia, combining the companies' sales, distribution and technical expertise to drive innovation, expand their solution offerings, target new sectors like coffee vending, and improve margins through efficiencies.
UPPay's founders said: “Our success in the Brazilian coffee vending market has proven that businesses and operators are hungry for affordable, fully integrated payment and telemetry solutions. We see Nayax as a global leader in automated self-service retail and joining forces with them positions us to replicate this success worldwide, leveraging their powerful distribution network, comprehensive payments ecosystem, and extensive operational expertise.”
Eduardo Muniz, CEO of VMtecnologia, commented: “Welcoming UPPay empowers VMtecnologia to serve a broader spectrum of automated self-service retailers with a wider, more flexible set of payment, telemetry and operational solutions".
Yair Nechmad, CEO and chairman of Nayax, added: “UPPay’s sophisticated yet affordable platform complements our vision of empowering retailers of all sizes with real-time operational insights, streamlined payments and seamless customer experiences. Uniting with UPPay cements our leadership position in a key growth market and drives our continued expansion.”
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