Nayax launches cloud-based EV charging payment solution By

HERZLIYA, Israel – Nayax Ltd. (NASDAQ:NYAX; TASE:NYAX), a prominent player in global commerce enablement and payments, has introduced a new cloud-based payment system, Nayax EV CloudPay, aimed at streamlining transactions at electric vehicle (EV) charging stations. This innovation allows EV drivers to use various cashless payment methods at a single on-site kiosk, eliminating the need for individual payment devices at each charger.

The newly launched EV CloudPay kiosk supports over 80 digital and cashless payment methods, including credit and debit cards, as well as mobile wallets, addressing the current inefficiencies within the EV charging payment infrastructure.

The current system often requires drivers to download and use multiple mobile apps, which can be time-consuming. Nayax’s solution simplifies this process by allowing a single kiosk to manage payments for multiple chargers, enhancing the user experience for both customers and charging station operators.

Yair Nechmad, CEO and Chairman of Nayax, highlighted the importance of a seamless payment process in the adoption of EVs, stating that a convenient charging experience is essential. Nayax’s EV CloudPay is designed to contribute to the robustness of EV charging infrastructure, which is vital for encouraging the widespread use of electric vehicles.

The system employs the Open Charge Point Interface (NASDAQ:) (OCPI) protocol to ensure easy integration with existing charging station management systems. Nayax Energy, the company’s energy and mobility division, is responsible for the rollout of EV CloudPay. This division also offers a range of services, including payment devices, software, and EV charging solutions for various locations such as street parking, gas stations, and hotels.

With over seven years of experience in the EV charging sector, Nayax continues to assert its position as a global leader in the field. The launch of EV CloudPay represents the company’s ongoing commitment to improving commerce and payment solutions in line with the growing shift towards electric vehicles.

This announcement is based on a press release statement from Nayax Ltd.

In other recent news, Nayax, a provider of integrated payments and technology solutions, has seen a flurry of activity. Keefe, Bruyette & Woods, Barclays (LON:), and UBS have all initiated coverage of Nayax, with respective ratings of Market Perform, Equal Weight, and Neutral.

Price targets have been set at $27.00 by both Keefe, Bruyette & Woods and Barclays, while UBS has a slightly higher target at $29.00. These ratings and targets are based on projections of Nayax’s future earnings and revenue growth.

Moreover, Nayax has announced a partnership with DKV Mobility to expand payment options in Europe. This collaboration, set to begin in the second half of 2024, will allow DKV’s fuel and service cards to be used across Nayax’s payment terminals, enhancing the payment experience for drivers and expanding Nayax’s reach in the European energy market.

Finally, Nayax has acquired Roseman Engineering Company Ltd., a key player in fuel and electric vehicle management solutions, for approximately $5.7 million USD. This acquisition is expected to strengthen Nayax’s position in the energy sector and increase operational efficiency. These developments highlight Nayax’s ongoing efforts to expand its services and enhance its market presence.

InvestingPro Insights

As Nayax Ltd. (NASDAQ:NYAX; TASE:NYAX) forges ahead with its innovative payment solutions in the EV sector, investors and stakeholders are closely watching the company’s financial health and market performance. Nayax’s recent venture, the Nayax EV CloudPay, underscores its commitment to addressing the evolving needs of the electric vehicle market, but what do the numbers say?

InvestingPro data reveals that Nayay has a market capitalization of $769.88 million, reflecting its position in the market. Despite facing challenges, as indicated by a negative P/E ratio of -52.01, the company’s revenue growth is notable, with a 28.81% increase over the last twelve months as of Q1 2024. This growth trajectory suggests that Nayax is expanding its revenue streams effectively, potentially a positive sign for investors looking at the company’s sales performance.

Moreover, the company’s gross profit margin stands at 39.83%, which demonstrates its ability to maintain profitability on its products and services. This metric is particularly important for investors assessing the company’s operational efficiency. Nayax’s strategic focus on payment solutions for the EV market could further bolster its financial standing if the sector continues to grow as anticipated.

InvestingPro Tips for Nayax include the insight that analysts expect sales growth in the current year, which aligns with the revenue growth metrics observed. Additionally, the Relative Strength Index (RSI) suggests that Nayax’s stock is currently in oversold territory, potentially presenting a buying opportunity for investors who believe in the company’s value proposition and future prospects.

For those interested in a deeper dive into Nayax’s financials and market performance, InvestingPro offers additional tips and tools. There are a total of 8 InvestingPro Tips available for Nayax, which can be accessed by visiting Investors can also take advantage of a special offer using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

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