Shenzhen (China), 31 August 2016
PAX Technology (HKEx: 00327 – PAX GLOBAL), a global leader in the provision of secure electronic payment terminal solutions, announces the launch of an innovative payment service by Airpay and Bank of Maharashtra (BOM) in India.
Since the Reserve Bank of India (RBI) announced plans to increase the number of payment terminals in the country from around 1.5 million to over 20 million in coming years, as part of a drive toward creating a cashless economy, PAX has experienced a surge of demand for the innovative MPOS D180 and D200.
Airpay has partnered with BOM to enter the card acceptance business and will deploy a couple of thousand units of the GPRS enabled D200 to enable a wider merchant acceptance network, including universities, schools, hospitals, hotels and retail merchants, to drive transaction volumes with Airpay’s solution.
Mr. Amit Kapoor, Co-Founder at Airpay, commented: “This collaboration, will enable us to provide omni-channel payment solutions to BOM’s existing & new customers”.
Ms. Latha Priyadarshini, General Manager for Pax Technologies Pvt Ltd (India), added: “Part of RBI’s wider strategy to deploy more terminals involved the granting of payment licenses to non-bank organizations, and we are seeing one of the first moves here”.
Ms. Heidi Hoo, Vice GM for the APAC region at PAX, concluded: “As happened in Brazil where PAX has over 1.3 million MPOS terminals deployed, our D180 and D200 devices are extremely popular in India due to a combination of cost-effectiveness, superior technical reliability, and full NFC Contactless offering”.
The D180 and D200 are also helping the environment in that no physical paper receipt is generated for each transaction, instead the cardholder can opt to have a receipt sent via email or SMS.
About PAX (www.pax.com.cn)
PAX Technology is an innovative global provider of electronic payment solutions, offering world-class, cost-effective and superior quality products. Building on its service excellence and proven leadership position, PAX is one of the fastest growing payment industry suppliers with state-of-the-art manufacturing facilities, excellent R&D capabilities and a worldwide network of sales and channel partners. PAX is listed on the Hong Kong stock exchange as PAX Global Technology Ltd. (0327.HK).