Nayax Ltd., a global commerce enablement and payments platform designed to help merchants scale their business, announced it has established Nayax Financial Services Ltd., a financial entity with authorization from the United Kingdom Financial Conduct Authority (FCA). Nayax Financial Services Ltd. further establishes Nayax as a global financial services company.
Nayax Financial Services Ltd. will be run by Lewis Zimbler, general manager, Nayax UK, and a board of directors that includes Paul Morgan, director of sales at Nayax UK, David Ben Avi, co-founder and CTO of Nayax, and Yair Nechmad, co-founder and CEO of Nayax. Nayax Financial Services Ltd. is supported by a governance committee focused on customer duty, compliance and corporate governance.
Direct authorization as a Payment and Electronic Money Institution enables Nayax in the UK to support its customers and develop services with the re-assurance that those services are designed to meet customer and regulatory standards and protections. Nayax customers in the UK will not experience any change in their business. All funds and processes will be seamlessly transferred from Nayax UAB’s office in Lithuania to Nayax Financial Services Ltd., and Nayax customers will be notified directly of such changes as they apply.
“Becoming fully FCA compliant secures Nayax’s UK operations in the long term,” Lewis Zimbler, general manager of Nayax UK and CEO of Nayax Financial Services Ltd., said in the announcement. “The establishment of Nayax Financial Services Ltd. helps further establish Nayax as a global financial institution that acts as a fully compliant payment facilitator, simplifying processes for its customers while ensuring that they stay ahead of the curve.”
