PAX Technology partners with Verisoft to deliver POS solutions to Banks in Turkey

Istanbul, Turkey and Shenzen, China, October 27, 2010-PAX Technology, the world’s combined leading and fastest growing provider of Point-of-Sale (POS) terminals has appointed payment system integrator Verisoft as the partner of choice to deliver POS solutions to Turkish Banks.

Andrew Wu, Vice President of the EMEA region at PAX commented: “Turkey is known to have some of the most innovative banks in the world, with very high levels of electronic payment penetration, and therefore a key market for our growing company”.

According to Onur Alver, Managing Director at Verisoft: “At the beginning of this decade Verisoft had a market share of around 40% of the Turkish POS market, through our distributorship of a POS brand which has now effectively disappeared due to acquisitions in the POS industry.  We finally see in PAX a POS manufacturer combining 3 key traits – financially solid, globally present and with a complete end-to-end range of superior POS devices.”

Mark O’Flynn, Managing Director of Acquirer Solutions, who brought the two companies together added: “In recent years Turkish Banks have been losing purchasing power – there used to be around 6 POS manufacturers bidding for their business, today the market has been effectively reduced to a duopoly.  Most Banks in Turkey understand the risks of ongoing consolidation in an already consolidated supplier industry and we hope to address their concerns through this partnership”.

PAX manufactures a complete range of superior quality PCI PED  & EMV compliant devices, as well as a suite of other POS terminals suitable for the non-financial vertical markets such as mobile airtime etopup and loyalty.

In recent years PAX has sold over 1,000,000 POS terminals.

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.  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 cell +86 1 360 0050 466.

Verisoft are a leading payments system integrator, founded in Turkey in 1985, providing turnkey solutions for Card based projects across Europe, the Middle East and Africa.  Onur Alver can be contacted at [email protected] and cell +90 532 212 5417.

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 cell +968 95 21 94 95.