KNET appointed exclusive agent for PAX to deploy POS solutions in Kuwait

Paris, December 16,2010 — KNET, the Shared Electronic Banking Services Company (K.S.C.C.) of Kuwait, and PAX Technology, a leading point of sale manufacturer, formalized their strategic partnership at Cartes in Paris by signing an agency agreement appointing KNET as the sole and exclusive provider of PAX solutions to the banking and value added market in Kuwait.

Present at the signing in Paris were Abdulla Al-Ajmi and Abdulaziz Al-Bader, respectively GM and Chairman at KNET, as well as Andrew Wu, VP for the EMEA region at PAX, and Mark O’Flynn, MD of Acquirer Solutions and Sales Director for PAX.

Mr. Al-Ajmi commented: “All KNET personnel have been extremely impressed with the superior quality, performance, and level of technical support provided by PAX around their S-Series range of terminals”.  He added: “Here at Cartes our impressions have been validated by a surprising number of other European POS integrators and acquiring banks”.

Mr. Wu said: “We are grateful to KNET for placing their trust in PAX and believing in our brand.  PAX are fully committed to growing globally, especially in the key EMEA markets, through the provision of superior quality POS terminals and outstanding technical support”.

Mr. Al-Bader added: “KNET’s mission is to efficiently serve Kuwaiti banks as a state of the art payments services organization, providing the highest standards of international security”.  He concluded by saying: “Our recent strategy has been to strengthen our national core competency by working directly with payment industry suppliers such as PAX”.

PAX Technology are a global leader in the provision of secure electronic payment systems and Point-of-Sale (POS) software. PAX was founded in 2000 and are one of the fastest growing POS suppliers globally, having shipped over 1 million terminals in recent years.  The company’s goal is to provide superior product quality and the highest levels of professional service and support to clients.  Andrew Wu can be contacted at [email protected] and +86 1 360 0050 466

About KNET (
The Shared Electronic Banking Services Company (K.S.C.C.) was established in 1992. KNET has connected all the local banks in the State of Kuwait through an advanced network (and throughout the GCC region via GCC-NET) and prides itself in maintaining the highest international standards of security and efficiency.

Acquirer Solutions are payment industry advisors, providing sales representation and customer account management services to payment industry vendors.  Mark O’Flynn can be contacted at [email protected] and +968 95 21 94 95