PAX GLOBAL Sets Major Milestone In US

PAX GLOBAL Technology Ltd (HK: 327), China’s top Electronic Funds Transfer Point of Sale (EFT-POS) terminal solutions provider, said wholly-owned unit PAX Technology (Shenzhen) Ltd received a key certification in the US and can now take a major step forward in boosting its market share in the world’s biggest economy.

PAX Shenzhen received the completion of Class A certifications for the PAX S90 and SP20 products from Heartland Payment Systems (NYSE: HPY), the fifth largest payment processor in the US.

PAX also secured major POS terminal orders in the Middle East, a key market for the Hong Kong-listed firm.

Cashless Society: PAX Global is China’s No. 1 player in EFT-POS (electronic fund transfer point of sale) terminal solutions products.     Photos: PAX Global

“We’re excited to showcase PAX products with Heartland Payment Systems,” said PAX Technology President and CEO Andy Chau.

“The PAX S90 and SP20 will provide Heartland’s customers with the reliability and security for which they are accustomed. Overall, PAX worked with Heartland to provide a feature-rich solution at an affordable price for their customers.”

The PAX S90 is a low cost wireless solution offered with either GPRS or CDMA while the PAX SP20 is a secure PIN Pad that surpasses the reliability of any other peripheral in the market.

“Heartland can offer these PAX terminals at reasonable prices while still providing a superior product with highly advanced security features,” said Heartland Executive Director Michael English.

“As long-term partners, Heartland and PAX will continue collaborating on products and features that benefit Heartland’s merchant clients and consumers,” he added.

PAX's shares began 2013 strong.     Source: Yahoo FinanceStrong growth in Egypt, North Africa

PAX Shenzhen also announced the appointment of the Egyptian Bureau for Engineering (EBE) as an official PAX channel partner to deploy point of sale terminal solutions for acquiring banks, mobile airtime providers and government agencies in Egypt and nearby countries such as Sudan and Libya.

PAX has secured orders from EBE for over 3,000 countertop S80 terminals enabled with GPRS communication, further growing the company’s market share in the region.

Dr. Ibrahim Sanad, CEO at EBE, said: “We have been deploying thousands of POS terminals from another vendor, and successfully so. But in PAX we recognized a supplier with a larger portfolio of devices, a truly global presence, and the financial solidity to keep up to date with the latest international payment industry compliances.”

PAX Sales Director Mark O’Flynn added: “We are delighted that EBE has chosen PAX. This is another in a long line of experienced payment system integrators in the EMEA region who appreciate PAX’s credibility as a highly focused and reliable point of sale terminal supplier to partner with.”

PAX Global Tech Ltd is an electronic funds transfer point-of-sale (EFT-POS) terminal solutions services developer and provider. PAX Global was listed on Hong Kong’s main board in December 2010. The Group currently collaborates with over 35 partners worldwide on EFT-POS solutions with its products sold to over 70 countries and regions.

See also:

PAX GLOBAL: 2012 Revenue Up 19%, POSitive On POS