HERZLIYA, Israel, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement, payments and loyalty platform designed to help merchants scale their business, today announced that EV Meter, its electric vehicle charging subsidiary, has been rebranded and will now be known as Nayax Energy. This change represents a strategic evolution that aligns with Nayax's commitment to its partners and customers to simplify payments and energy management, and to maximize loyalty for the electric energy industry.
Before this change, EV Meter mainly focused on energy and charging station management and hardware (AC Level 2 charging stations), while Nayax was mainly focused on card present payments for charging stations. The Nayax Energy line of business will combine all these offerings under one business and sales will be executed by Nayax sales representatives.
"We believe that this change will enable us to better focus on our customers' needs in terms of our product offering and support," says Omer Bubis, General Manager of Nayax Energy. "It's important to note that while our name is changing, our core values and dedication to excellence and the quality of our products and services remain unwavering."
Nayax Energy is looking ahead to 2030, when, according to the International Energy Agency, 230 million EVs are expected to be on the road, and over 250 million charging stations will be needed to address this growth. This rapidly expanding market offers an opportunity for Nayax Energy to achieve its mission of simplifying payments and energy management to maximize loyalty for the energy industry.
In 2030, energy will need to be intelligently managed using bidirectional dynamic tariffs wrapped in loyalty programs and AI to provide EV drivers with a seamless experience when they consume energy. Nayax Energy’s unique offering, which includes global payment solutions for any local market, white label energy management, a driver app, hardware agnostic solutions, loyalty and marketing capabilities, and support of common industry protocols. This places Nayax Energy in an excellent position to address these needs and alignment of the company's vision with these goals will help achieve this seamlessness.
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “estimate” and “potential,” among others. Forward-looking statements include, but are not limited to, statements regarding our intent, belief or current expectations. Forward-looking statements are based on our management’s beliefs and assumptions and on information currently available to our management. Such statements are subject to risks and uncertainties, and actual results may differ materially from those expressed or implied in the forward-looking statements due to various factors, including, but not limited to: our expectations regarding general market conditions, including as a result of the COVID 19 pandemic and other global economic trends; changes in consumer tastes and preferences; fluctuations in inflation, interest rate and exchange rates in the global economic environment; the availability of qualified personnel and the ability to retain such personnel; changes in commodity costs, labor, distribution and other operating costs; our ability to implement our growth strategy; changes in government regulation and tax matters; other factors that may affect our financial condition, liquidity and results of operations; general economic, political, demographic and business conditions in Israel, including the ongoing war in Israel that began on October 7, 2023 and global perspectives regarding that conflict; the success of operating initiatives, including advertising and promotional efforts and new product and concept development by us and our competitors; Moshe Shmaryahu's success as the Company's new Chief Information Officer; and other risk factors discussed under “Risk Factors” in our annual report on Form 20-F filed with the SEC on March 1, 2023 (our "Annual Report"). The preceding list is not intended to be an exhaustive list of all of our forward-looking statements. The forward-looking statements are based on our beliefs, assumptions and expectations of future performance, taking into account the information currently available to us. These statements are only estimates based upon our current expectations and projections about future events. There are important factors that could cause our actual results, levels of activity, performance or achievements to differ materially from the results, levels of activity, performance or achievements expressed or implied by the forward-looking statements. In particular, you should consider the risks provided under “Risk Factors” in our Annual Report. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Each forward-looking statement speaks only as of the date of the particular statement. Except as required by law, we undertake no obligation to update publicly any forward-looking statements for any reason, to conform these statements to actual results or to changes in our expectations.
Nayax is a global commerce enablement, payments and loyalty platform designed to help merchants increase their revenue while decreasing their operational cost. Nayax offers a complete solution including localized cashless payment acceptance, management suite, and consumer engagement 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. Today, Nayax has 9 global offices, approximately 800 employees, connections to more than 80 merchant acquirers and payment method integrations and is a recognized payment facilitator worldwide. Nayax's mission is to improve our customers' revenue potential and operational efficiency. For more information, please visit www.nayax.com
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Investor Relations Contact:Virginea Stuart GibsonVice President, Investor Relationsvirgineas@nayax.comNayax Ltd.