Primo® Water Selects Nayax as Exclusive Cashless Payment Solution Provider for Its Refill Business
November 16 2018 - 9:30AM
Nayax’s Virtual Point of Sale (VPOS)
Touch devices will be fitted on all outdoor refill
machines
Primo Water has chosen Nayax, a leading cashless payment solutions
provider, as the cashless payment technology for Primo Water’s
outdoor filtered drinking water or refill machines.
To bring more payment options to consumers along
with real-time telemetry alerting, Primo Water will be installing
Nayax’s VPOS Touch devices on approximately 17,000 outdoor refill
machines. VPOS Touch will allow Primo Water customers to choose
from a wide variety of EMV-certified or chip-card cashless payment
methods, including credit cards, debit cards, and mobile payment
apps (such as Apple Pay, VISA, Mastercard and more). Nayax’s
management system capabilities will provide Primo Water the ability
to remotely monitor its outdoor Refill Machines and ensure its
machines are in continuous operation. The system will deliver
tailored notifications based on Primo Water’s defined thresholds
when a Refill Machine experiences a power outage, or when there is
a machine error based on their specifications. This will allow
field managers to send service technicians to the Refill Machine,
thus reducing downtime. Primo Water anticipates that this
capability will reduce lost revenue from prolonged machine
interruption and will increase end-consumer satisfaction.
Matt Sheehan, CEO of Primo Water said, “As we
have been investing in technology across our refill business, we
are excited to enable cashless payment for our consumers along with
increased visibility into the operations. We looked across the
potential providers and with Nayax we feel we have a partner that
can help us grow and use technology to improve our operations.
We’ve also been impressed by the quality and responsiveness of
Nayax’s support team. We believe that by using Nayax’s management
solution and extensive alert system, our Refill Machines will enjoy
a much higher rate of availability and uptime. In our testing the
last few months, we’ve been pleased with the results from the Nayax
payment system.”
Primo Water chose Nayax because of Nayax’s
dedication to security and because the company is an industry
leader in offering chip-card certified devices. Nayax features full
EMV certification and enablement in their cashless payment devices.
These measures will protect Primo Water and its consumers from
fraudulent transactions.
“We’re thrilled to be partnering with Primo
Water. With such a large network of installations, we believe Primo
Water will benefit from both an increase in sales and decrease in
operational costs by implementing Nayax’s cashless and telemetry
solution on their entire fleet of outdoor Refill Machines. We look
forward to working with them to offer any additional custom
development that can better help Primo Water monitor their Refill
Machines remotely to optimize service and meet their consumers’
needs. We are happy to be chosen as Primo Water’s long-term
cashless technology partner. We are impressed by Primo’s speed,
attention to detail, and how quickly they are installing the
units,” said Carly Furman, Nayax, LLC, CFO/COO.
About Primo WaterPrimo Water
Corporation (NASDAQ: PRMW) is an environmentally and ethically
responsible company with a purpose of inspiring healthier lives
through better water. Primo Water is North America's leading single
source provider of water dispensers, multi-gallon purified bottled
water, and self-service refill water. Primo Water's Dispensers,
Exchange and Refill products are available in over 45,000 retail
locations and online throughout the United States and Canada. For
more information, please visit www.primowater.com.
About NayaxNayax offers
complete cashless solution including telemetry and a management
platform, to unattended automatic machines. Nayax’s features help
operators improve their day-to-day operations and long-term
planning, and their marketing tools assist operators in
transforming unattended machines into 24/7 retail stores with
consumer engagement and IoT activities. As a global company,
Nayax’s goal is to provide all payment methods in each region,
ensuring consumers with their preferred payment method, wherever
they are located. For more information, please visit
www.nayax.com.
Forward-Looking
StatementsCertain statements contained herein are not
based on historical fact and are “forward-looking statements”
within the meaning of the applicable securities laws and
regulations. These statements include Primo’s expectation
that Nayax’s solutions will be installed at all of its outdoor coin
Refill locations; statements that Nayax’s technology will allow
Primo’s customers to choose from a wide variety of EMV-certified
cashless payment methods; statements regarding the belief that
Primo will benefit from an increase in sales and a decrease in
operational costs by implementing Nayax’s solutions; statements
regarding Primo’s beliefs that Nayax’s management system
capabilities will give Primo the ability to monitor its outdoor
Refill locations remotely and ensure continuous operations of
Refill machines; statements that Nayax’s solutions will deliver
tailored alert notifications allowing field managers to send
service technicians to the site; Primo’s anticipation that the
alert notifications will reduce lost revenue from prolonged machine
interruption and will increase end-consumer satisfaction; Primo’s
belief that certain Nayax features will protect Primo and its
consumers from fraudulent transactions; statements regarding
Primo’s expectations that Nayax can customize its devices, software
and management platform for Primo’s specific needs; and Primo’s
belief that utilization of Nayax’s solutions will result in a much
higher rate of availability and uptime in Refill machines. These
statements can otherwise be identified by the use of words such as
"anticipate," "believe," "could," "estimate," "expect," "feel,"
"forecast," "intend," "may," "plan," "potential," “predict,”
"project," “seek,” "should," "would,” “will,” and similar
expressions intended to identify forward-looking statements,
although not all forward-looking statements contain these
identifying words. Owing to the uncertainties inherent in
forward-looking statements, actual results could differ materially
from those stated herein. Factors that could cause actual results
to differ materially from those in the forward-looking statements
include, but are not limited to, the loss of major retail customers
of the Company or the reduction in volume or change in timing of
purchases by major retail customers; the consolidation of retail
customers and disruption of the retail business model; lower than
anticipated consumer and retailer acceptance of and demand for the
Company's products and services; difficulties realizing the
anticipated benefits and synergies from the Glacier Water
acquisition and managing our expanded operations following the
acquisition; the highly competitive environment in which we operate
and the entry of a competitor with greater resources into the
marketplace; competition and other business conditions in the water
and water dispenser industries in general; adverse changes in the
Company's relationships with its independent bottlers, distributors
and suppliers in its Exchange business; the loss of key Company
personnel; risks associated with the Company’s potential expansion
into international markets, particularly with China, that could be
harmful to our business and operations; recently imposed tariffs
that cover certain of our products, the potential for increases in
existing tariffs or new tariffs, which may materially adversely
affect our business, and other potential changes in international
trade relations implemented by the U.S. presidential
administration; the Company’s experiencing product liability,
product recall or higher than anticipated rates of sales returns
associated with product quality or safety issues; dependence on key
management information systems; the Company's inability to
efficiently expand operations and capacity to meet growth; the
Company's inability to develop, introduce and produce new product
offerings within the anticipated timeframe or at all; general
economic conditions; the possible adverse effects that decreased
discretionary consumer spending may have on the Company’s business;
changes in the regulatory framework governing the Company's
business; significant liabilities or costs associated with
litigation or other legal proceedings; the possibility that our
ability to use our net operating loss carryforwards in the United
States may be limited; the restrictions imposed upon our business
as a result of the restrictive covenants contained in our credit
agreements; the Company’s inability to comply with its covenants in
its credit facility; the possibility that we may fail to generate
sufficient cash flow to service our debt obligations; the negative
effects that global capital and credit market issues may have on
our liquidity; the costs of borrowing on our operations as well as
other risks described more fully in the Company's filings with the
Securities and Exchange Commission, including its Annual Report on
Form 10-K filed on March 7, 2018 and its subsequent filings under
the Securities Exchange Act of 1934. Forward-looking statements
reflect management's analysis as of the date of this press release.
The Company does not undertake to revise these statements to
reflect subsequent developments, other than in its regular,
quarterly earnings releases or as otherwise required by applicable
securities laws.
Contact:Primo Water
CorporationDavid Mills, Chief Financial Officer(336) 331-4000
ICR Inc.Katie Turner(646) 277-1228
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