Nayax, an Israel-based cashless payment solutions provider for unattended retailers, has secured a Payment Institution (PI) licence from the central bank of Lithuania.

The licence results in the launch of a new payment intuition called Nayax Europe in Lithuania.

Complying with GDPR and PSD2 rules, the new entity will offer remittance services to more than 23 million enterprises in the European Economic Area (EEA) zone.

Nayax CEO Yair Nechmad said: “Nayax has long been situated as a global leader in cashless payments and management system for the unattended retail market.

“The receipt of this Payment Institution license is a great milestone in our payment service roadmap; we’ll be in an even stronger position to offer our customers the services they are looking for to grow their businesses.”

Nayax offers cashless payment devices and management system for unattended retail industries as well as develops new associated software and hardware such as POS card readers, machine and inventory management and consumer engagement tools. Its open platform enables integration with other companies’ solutions and ERP software.

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The company operates in more than 65 countries through nearly 250,000 devices. It performs transactions in 26 currencies.