Cashless payments provider Nayax Ltd. announced today the acquisition of Weezmo, a technology startup focused on in-store purchases. Terms were not disclosed.
Weezmo technology enables companies to link their online marketing efforts to physical purchases at points of sale. It tracks the complete purchasing process, while measuring the impact of digital advertising on all online and offline sales.
Using artificial intelligence, Weezmo customers gain a better understanding of consumers and campaign effectiveness, leading to increasing sales. This all results in significant increases in ROI, Nayax said, thanks to the ability to link all the information from the store to consumer behavior online and translate business insights into practical execution. The digital receipt itself is an engaging experience for the consumer, containing customized sales offers, games, feedback, video and more.
Weezmo's customers are worldwide,and include such well-known brands as Super-Pharm, Office Depot, McDonald's, IKEA, H&O, Mahsanei Hashmal, Factory 54, Pizza Hut and H&M.
With Nayax established and selling in over 65 countries, the goal is to continue expanding Weezmo activity into markets around the globe.
"As part of our strategic process aimed at creating a personal and relevant customer experience, and in line with H&M's sustainability agenda, we chose to implement the Weezmo platform in the H&M Group's brands in Israel," said H&M Group marketing vice president Ronit Gottfried-Nissani.
Weezmo was founded in 2015 by programmers Shai Raiten and Sasha Glazman. While the initial idea for Weezmo was to address the problem of paper receipts and their impact on the environment, over time, the concept grew into its current experiential incarnation.
"As Nayax expands into other markets and provides solutions to attended and semi-attended markets, we see the acquisition of Weezmo as an exciting technology solution to offer retailers, which dovetails perfectly with our existing portfolio of products and solutions," said Nayax chief executive Yair Nechmad.
Nayax has 10 global offices and more than 400 employees.
