PAX Technology, Inc. Builds Their U.S. Technology Team

Andrey Tikhonov Appointed as Vice President of Engineering

Atlanta, Georgia And Shenzhen, China — April 14, 2010 — PAX Technology, Inc. the leading global provider of innovative electronic payment terminal products, today announced the appointment of Andrey Tikhonov, as Vice President of Engineering. Mr. Tikhonov will be responsible for leading our technology growth and development in the North American market.

"Andrey Tikhonov’s extensive experience in the point of sale arena along with his knowledge of both hardware and software development is unparallel. He has guided successful terminal start ups through his knowledge of working in the industry for over 10 years. " said Michael Mulcahy, PAX President & CEO. "His strong leadership abilities will be critical in building our U.S. development team."

Andrey joined PAX with over 10 years of technology experience within the payment card industry, having spent over 8 years with leading point-of-sale terminal manufacturers, including Lipman and VeriFone, followed by 3 years with ExaDigm.

Andrey held a range of key engineering positions at Lipman USA including Senior Software Engineer, Manager of R&D, and was appointed a member of Lipman's Executive Management Team as Director of R&D. At ExaDigm Andrey served as CTO, a member of the Executive Management Team and was responsible for technological development, providing vision, strategy and direction and for the full product development cycle from inception to introduction to the market.

Andrey holds both a Masters and Bachelors degree in Information Technology and Computer Science, from Novosibirsk Technical University in Russia.

About PAX Technology Limited
PAX is a global leader in providing secure electronic payment systems. The company has been serving the global payments marketplace since 2001 and is now one of the largest POS manufacturers in the world. In 2008, PAX ranked 8th in terms of annual shipments for POS vendors, according to The Nilson Report. With shipments over 264,000 units in 2008, PAX is the fastest growing POS terminal manufacturer of the top 25 worldwide. In 2009, PAX opened their North American office and offers a complete range of POS solutions including PIN pads, countertop, mobile handheld and multi-lane terminals and contactless readers.
www.pax.us

Contact Information
PAX Technology, Inc.
Wendy Lund
VP, Product Marketing
marketing@pax.us

# # #