Nayax OTI PetroSmart Announces Partnership with ai Corporation
07 September 2023 - 9:00PM
Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement
and payments platform designed to help merchants scale their
business, today announced that its subsidiary OTI PetroSmart, a
leading provider of integrated, end-to-end fuel management and
payment solutions, have partnered with ai Corporation to provide
its sophisticated fleet card issuing and fuel payments platform
aiEazyFuel
® to manage payment devices, including
fraud management and provide transaction processing and repricing
services for commercial fleet customers.
aiEazyFuel® will be integrated
with OTI PetroSmart’s Automated Vehicle Identification (AVI)
solution, EasyFuel Plus, which provides customers with an entirely
frictionless refueling experience. EasyFuel Plus ensures that the
right grade and volume of fuel is dispensed into the right vehicle
by supporting nozzle to tank identification and ensuring that fuel
is only dispensed while RF communication is maintained between the
nozzle reader and vehicle mounted tag. As EasyFuel Plus supports
inputs to automate the capturing of odometer and/or engine
operating hours, customers can effectively manage fuel consumption
while preventing fraud.
“OTI PetroSmart is working closely with ai
Corporation to ensure support for existing business processes used
by Petroleum Retailers who have licensed EasyFuel Plus, such as
Masana Petroleum (BP Southern Africa’s Commercial Division). The ai
Corporation platform offers significant opportunities for future
innovation. OTI PetroSmart’s scalable EasyFuel Plus solution
addresses the needs of heavy fleet, light fleet as well as
consumers and with the ai Corporation partnership, we can support
both open and closed loop programs,” said Charlotte Hambly-Nuss,
Managing Director of OTI PetroSmart.
Piers Horak, Chief Commercial Officer of ai
Corporation states, "Our core fuel card suite has been built in
partnership with leading international issuers and retailers. By
ensuring support for online authorization, EMVCo open loop scheme
rules and IFSF forecourt standards, Petroleum Retailers in Southern
Africa and beyond can benefit from industry best practices and
extend their B2B offers to address the requirements of additional
customer segments and verticals. The ai platform combined with the
drive in, fill up and drive out simplicity of OTI PetroSmart’s
solution is a winning combination.”
Forward-Looking Statements
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
of 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
over the world; 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; the success of
operating initiatives, including advertising and promotional
efforts and new product and concept development by us and our
competitors; 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.
About Nayax
Nayax is a global commerce enablement and
payments platform designed to help merchants scale their business.
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.
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.
For more information, please visit www.otipetrosmart.com
About ai Corporation
The ai Corporation is a leading provider of
fraud prevention and payments solutions. Operating for over 20
years, ai has provided solutions around the world to some of the
largest financial institutions, international merchants, and major
payment service providers across a broad spectrum of industries.
For more information, please visit www.aicorporation.com
Public Relations Contact:Courtney Tolbert5W
PRctolbert@5wpr.com
Investor Relations Contact:Virginea Stuart
GibsonVice President, Investor Relationsvirgineas@nayax.com
NAYAX (NASDAQ:NYAX)
Historical Stock Chart
From Apr 2024 to May 2024
NAYAX (NASDAQ:NYAX)
Historical Stock Chart
From May 2023 to May 2024