Digital Transactions Authoritative, insightful and timely information for payments professionals
Two point-of-sale companies have separately taken steps to boost their competitiveness, one with an acquisition and the other in a marketing expansion.
Payments platform Nayax Ltd. says it will acquire Folsom, Calif.-based Retail Pro International in a $36.5-million deal. Expected to close in the fourth quarter, the deal will expand Nayax’s offerings to more than 9,000 retailers with approximately 150,000 POS lanes in 100 countries. Retail Pro produces POS software for general and specialty retail and is available for iOS, Android, and Windows devices.
Israel-based Nayax says the deal also will include access to more than 80 distributors. Among other expected benefits are a boost to embedded payments for Nayax and the ability to cross-sell Nayax’s payment platform into Retail Pro’s distributor and customer base. Retail Pro generated approximately $14 million in revenue in fiscal 2022.
“Our combined businesses, together with Retail Pro’s 80 distributors, will triple our access to the global attended retail market and create a powerful and complete solution with Nayax’s payment and loyalty platform,” Yair Nechmad, Nayax chief executive and chairman of the board, says in a statement.
In related news, Lightspeed Commerce Inc. expanded its price matching program globally. The program had been available in North America only.
Montreal-based Lightspeed said it will match or beat a merchant’s existing third-party payment-processing rate if the merchant migrates to Lightspeed. Other stipulations are to process a minimum of $25,000 in card volume over the life of the relationship and provide at least three months of the most recent card-processing statements.
The campaign aligns with the launch earlier this year of Lightspeed’s Payments & POS platform, which provides embedded payments in the POS system. It launched in North America earlier this year and is being sold in Europe, Australia, and New Zealand now.
