Israel-based payments company Nayax has applied for a US bank charter, that would let it offer business cards, loans, and cash advances directly through its own platform instead of leaning on outside banks. The company filed the application with the Connecticut Department of Banking to create Nayax America Bank, which would be headquartered in Fairfield County, Connecticut.
Nayax runs point-of-sale and payment technology for vending machines, self-checkout kiosks, and other unattended retail equipment worldwide. It already processes payments for merchants; this filing is about adding banking services on top of that.
The charter Nayax is pursuing is called an innovation bank charter, a Connecticut-specific license for financial technology firms that do not take deposits from individual customers. Because it skips retail deposits, the bank would not need FDIC insurance, but it would still follow standard bank rules on safety and soundness. It is meant for companies that want to run banking functions like card issuing or business lending without becoming a full consumer bank.
If approved, the new bank would offer corporate cards, spending controls, and working-capital tools such as merchant cash advances and equipment financing to Nayax’s US customers, on top of the payment processing they already use. The bank would not take deposits, serve individual consumers, or open branches.
Nayax also announced a separate product launching now: Yellow Account, a business account and debit card service for its US merchants. Yellow Account works differently from the proposed bank. It runs through Nayax’s partner Adyen, which acts as the “sponsoring bank.” In practice, that means Adyen holds the actual funds and satisfies the licensing rules, while Nayax provides the customer-facing product. This setup is common in fintech and is usually called embedded banking or banking-as-a-service, since it lets a non-bank company offer banking features by plugging into a licensed bank’s infrastructure.
“Payments are how we built our relationship with customers. This represents a larger opportunity to become the financial platform our customers rely on to run their businesses,” said Aaron Greenberg, Chief Strategy Officer of Nayax.
The proposed bank’s leadership would come from within Nayax: Carly Furman, CEO of Nayax North America, is named as the bank’s proposed CEO, alongside Sagit Manor as CFO and Haim Pinto as CTO.
North America already accounts for roughly 40% of Nayax’s global revenue, the company’s largest market. Nayax also holds payment and card-issuing licenses in the European Union, the United Kingdom, and Israel. A US bank charter would extend that same direct control to its biggest market instead of relying on partners like Adyen for every service.
The Connecticut Department of Banking will review the application over roughly six months, including a feasibility study and public hearing. Approval is not guaranteed.
Nayax’s application follows a broader trend of payments companies, including those in blockchain payments, applying for their own bank charters rather than routing services through partner banks. That milestone potentially gives them more control over pricing, product design, and customer data, though it also brings direct regulatory oversight that partner-bank arrangements previously absorbed.
