Nayax partners with OTI PetroSmart to implement EasyFuelPlus fuel management system across Tesco's UK fleet for improved efficiency.
Quiver AI Summary
Nayax Ltd. has announced the deployment of its EasyFuelPlus fuel management system in collaboration with OTI PetroSmart and OTS Group for Tesco across the UK. This system aims to enhance the efficiency, cost-effectiveness, and sustainability of fleet operations by enabling precise, automatic fuel dispensing using RFID technology. The implementation will begin in early 2026 at 14 Tesco distribution centers, supporting over 5,000 vehicles by optimizing fuel usage and tracking performance data through the OTI-PetroSmartby Nayax cloud-based platform. The initiative promises to reduce costs, eliminate human error, and promote sustainability while maintaining driver satisfaction. Nayax, which acquired OTI PetroSmart in 2022, continues to expand its comprehensive payment and loyalty solutions across various sectors.
Potential Positives
- Nayax is partnering with Tesco, a major multinational retailer, to deploy its EasyFuelPlus system, indicating strong market validation and potential for growth in the UK fuel management sector.
- The EasyFuelPlus system enhances fleet efficiency and sustainability for Tesco, positioning Nayax as a leader in innovative fuel management solutions.
- This deployment is expected to cover 14 Tesco distribution centers and over 5,000 vehicles, significantly expanding Nayax's operational footprint and influence.
- Utilizing advanced RFID technology, Nayax's EasyFuelPlus provides real-time insights and optimizes resource use, aligning with increasing demands for sustainable business practices.
Potential Negatives
- The announcement emphasizes Nayax's reliance on partnerships, such as OTI PetroSmart and OTS Group, which may suggest a lack of sufficient in-house capabilities to independently execute large projects.
- The deployment of EasyFuelPlus is primarily associated with Tesco's operations, which could raise concerns about Nayax's ability to diversify its client base and reduce dependence on a single major customer.
- The press release did not provide detailed financial projections or expected revenues from the deployment, potentially leading to skepticism about the project's profitability and the company's future financial performance.
FAQ
What is EasyFuelPlus by Nayax?
EasyFuelPlus is a fuel management system designed to make fleet operations more efficient with automatic fuel dispensing and real-time insights.
How will Tesco benefit from EasyFuelPlus?
Tesco will achieve cost savings, enhanced fuel transaction security, and improved sustainability by implementing EasyFuelPlus across its UK fleet.
When will EasyFuelPlus be installed at Tesco?
EasyFuelPlus is expected to be installed across 14 Tesco distribution centers and more than 5000 vehicles by early 2026.
What technology does EasyFuelPlus utilize?
EasyFuelPlus uses RFID technology to dispense the exact fuel grade and volume needed for each vehicle accurately.
Who is OTI PetroSmart?
OTI PetroSmart is a leading provider of integrated fuel management solutions, acquired by Nayax in 2022 to enhance fuel management capabilities.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
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Full Release
HERZLIYA, Israel, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and
payments platform
designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will deploy its EasyFuelPlus, a fuel management system, by
OTI
PetroSmart
, a leading provider of integrated, end-to-end fuel management and payment solutions, across the UK alongside its local partner, OTS Group for Tesco, a leading multinational groceries and general merchandise retailer.
EasyFuelPlus
makes fleet operations more efficient, cost-effective, and sustainable with precise, automatic fuel dispensing, which eliminates human error, reduces waste, and optimizes resource use for better environmental outcomes. Using Radio Frequency Identification (RFID) technology, EasyFuelPlus dispenses the exact fuel grade and volume needed for each vehicle, collects odometer and engine hour data to track fuel efficiency, and delivers comprehensive, real-time insights for operators via OTI- PetroSmartby Nayax cloud-based FuelReporter platform.
OTS Group expects to install EasyFuelPlus across 14 Tesco distribution centers in the UK and more than 5000 vehicles by early 2026. The technology will be implemented across Tesco’s sprawling UK fleet of tractor units, refrigerated trailers, box trucks, delivery vans, lorries, and diverse industrial vehicles, taking advantage of EasyFuelPlus’ ability to integrate seamlessly with existing
fleet management solutions
.
EasyFuelPlus has transformed fuel operations by enhancing fuel transaction speed and security which achieved meaningful cost savings, reduced unauthorized usage, and advanced the companies sustainability goals—all while maintaining high driver satisfaction.
“We’re proud to see EasyFuelPlus driving real change at Tesco,” said Charlotte Hambly-Nuss, Managing Director of OTI PetroSmart. “Our technology is cutting costs, automating essential processes, and supporting a more sustainable fuel strategy for Tesco’s diverse fleet thanks to our innovative solutions that are enriched by Nayax’s decades of experience in the payments management space.”
About Nayax
Nayax
is a global commerce enablement, payments and
loyalty platform
designed to help merchants scale their business. Nayax offers a complete solution including localized cashless payment acceptance,
management suite
, and loyalty tools, enabling merchants to conduct commerce anywhere, at any time. With foundations and global leadership in serving unattended retail, Nayax has transformed into a comprehensive solution focused on our customers' growth across multiple channels. As of Sep 30, 2024, Nayax has 11 global offices, approximately 1,100 employees, connections to more than 80 merchant acquirers and payment method integrations and globally recognized as a payment facilitator. Nayax's mission is to improve our customers' revenue potential and operational efficiency. For more information, please visit
www.nayax.com
.
About Nayax OTI
PetroSmart
Established in 2000, OTI PetroSmart is a leading provider of fuel management solutions that include configurable hardware, software applications and support services. OTI PetroSmart combines AVI with
cashless and contactless technologies
. Our solutions streamline and expedite the refueling process while reducing operational expenditures by eliminating manual processes. Nayax acquired OTI petro Smart in 2022, establishing Nayax’s footprint in the Petrol, Forecourt and Fleet management. Nayax is developing an innovative solution for the above markets to increase revenue and consumer loyalty around the globe. For more information, please visit
www.otipetrosmart.com
.
About Tesco
Tesco is a multinational grocery and general merchandise retailer with headquarters in Welwyn Garden City, Hertfordshire, England, United Kingdom. It is the third-largest retailer in the world measured by gross revenues and the ninth-largest retailer in the world measured by revenues. It has shops in seven countries across Asia and Europe and is a market leader of groceries in the United Kingdom, Ireland, Hungary and Thailand.
Public Relations Contact
Scott Gamm
Strategy Voice Associate
Scott@strategyvoiceassociates.com
Investor Relations Contact:
Aaron Greenberg
Chief Strategy Officer
IR@nayax.com
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