HERZLIYA, Israel - Nayax Ltd. (NASDAQ: NYAX; TASE: NYAX), a global commerce enablement and payment platform, has announced a partnership with DKV Mobility, a leading provider of on-the-road payments and solutions. This collaboration is set to broaden the acceptance of DKV's fuel and service cards across Nayax's payment terminals in Europe, starting in the second half of 2024.
The integration will allow DKV Mobility's cards to be used at approximately 10,000 car wash sites throughout Europe that are already equipped with Nayax's VPOS Touch and Onyx Payment terminals. This move is anticipated to enhance the payment experience for drivers and expand Nayax's reach in the European energy market.
Yair Nechmad, CEO of Nayax, emphasized the significance of the partnership, noting that it represents a crucial step for Nayax in growing its services in the energy sector. Sven Mehringer, Managing Director Energy & Vehicle Services at DKV Mobility, highlighted the mutual benefits, as the cooperation enables the inclusion of new partners into DKV's network without the need for additional investments.
DKV Mobility operates the largest energy-agnostic acceptance network in Europe, which includes access to about 66,000 fuel service stations and 666,000 public and semi-public Electric Vehicle (EV) charging stations. The partnership is set to leverage Nayax's existing infrastructure to facilitate seamless transactions for users of DKV's cards.
Nayax has established itself as a global leader in providing cashless payment solutions, management suites, and loyalty tools, with a focus on helping merchants expand their operations. The company has a presence in nine countries, employs approximately 800 people, and is connected to over 80 merchant acquirers and payment methods worldwide.
The information in this article is based on a press release statement from Nayax Ltd.
InvestingPro Insights
As Nayax Ltd. (NASDAQ: NYAX) forges a significant partnership with DKV Mobility to expand its payment solutions across Europe, investors and industry observers are closely monitoring the company's financial health and market performance. Nayax's commitment to enhancing the payment experience in the energy sector is mirrored by the company's robust revenue growth over the last twelve months, registering an impressive 35.72%. This growth trajectory aligns with the InvestingPro Tips that analysts anticipate sales growth in the current year, painting a promising picture for Nayax's expansion efforts.
Despite the company not being profitable over the last twelve months, the InvestingPro Tips also suggest a positive outlook with the expectation that net income will grow this year. Nayax's strategic moves, such as the partnership with DKV Mobility, are likely contributing factors to the analysts' predictions that the company will be profitable this year. Furthermore, Nayax's stock has demonstrated a strong return over the last three months, with a 16.19% price total return, suggesting a positive investor sentiment that could reflect confidence in the company's strategic direction.
With a market capitalization of $909.6 million and a high Price / Book multiple of 9.44, Nayax is trading at a valuation that indicates investor confidence in its assets and future growth potential. While the company operates with a moderate level of debt, this strategic partnership could serve as a catalyst for further growth and expansion in the lucrative European market.
For those interested in a deeper dive into Nayax's financials and market prospects, there are 10 additional InvestingPro Tips available at https://www.investing.com/pro/NYAX. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and gain comprehensive insights that could inform investment decisions.
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