The companies agreed to a MOU with the intention to establish a long-term collaboration and embed Nayax-powered payments within the SECCO products.
The companies plan to deliver fully integrated IoT solutions which include secure payments, remote machine management, and AI-driven business intelligence for any enterprise with automated self-service POS. OEMs will gain access to cost-optimised hardware with SECO’s IoT capabilities and Nayax’s payment platform.
The new products powered by this collaboration are a payment-enabled smart screen designed as a convenient solution for the next generation of intelligent vending machines, micro markets, smart coolers, and automated self-service retail machines.
Integrating Nayax’s payment infrastructure within SECO’s products will also empower businesses to manage their payment flows and automated self-service POS through Clea. Clea is SECO’s IoT-AI software platform that securely collects, analyses, and manages connected device data in real time to enable intelligent automation and cross-functional business insights.
The two companies share the vision of extending their commercial reach into high-demand markets worldwide and accelerate broader adoption of their embedded payment platform. They also aim to offer products that unify telematics, analytics, and frictionless transactions.
SECO benefits from this partnership as it can now embed a global payment platform directly into its connected screens and devices, delivering better products for its OEM customers across verticals such as vending, coffee, and electric vehicle supply equipment.
The IoT integration market is expected to grow from USD 3.2 billion in 2023 to USD 12,1 billion by 2028. This is a CAGR of 30.8% during the forecasted period.
A major driver of the market is the proliferation of IoT devices across various industries as businesses look to harness the data generated by these devices to improve operations and make informed decisions. Additionally, the need to optimise operational efficiency, reduce downtime, predictive maintenance, and energy savings will drive the market.
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