Nayax OTI PetroSmart Announces Partnership with ai Corporation
HERZLIYA, Israel, Sept. 07, 2023 (GLOBE NEWSWIRE) -- 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 Tolbert
5W PR
ctolbert@5wpr.com
Investor Relations Contact:
Virginea Stuart Gibson
Vice President, Investor Relations
virgineas@nayax.com
