Nayax and Telit to expand cashless payment services into vending machines

Telit Wireless Solutions, a global provider of machine-to-machine (M2M) modules and value-added services, announced that its M2M cellular modules used by Nayax, a cashless and telemetry systems developer, are to enable cashless services for vending machines operated in Scandinavia by Selecta Nordic.

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.

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.

Once 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. It also provides a wide array of alerts and notifications that can be sent by SMS or email.

“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 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.”

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.

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