PAX Won Significant Market Share in Nigeria

Lagos, Nigeria, October 7, 2011 – PAX Technology Limited, a leading manufacturer of Point-of-Sale (POS) terminals has further strengthened its leadership in providing secure point-of-sale terminal solutions in emerging markets by securing orders from Nigeria in recent weeks which will give the company a market share of around 35%, disrupting the quasi-monopoly previously held by another competitor.

PAX scored first ahead of three other competing POS terminal suppliers during an official tender process by the Central Bank of Nigeria (CBN) to procure POS terminals.  The CBN has been the key driver in recent months behind an innovative initiative to develop a cashless payment infrastructure throughout Africa’s most populous country, beginning with the ‘Cashless Lagos’ project.

Mark O’Flynn, Sales Director at PAX, commented: “We are delighted to demonstrate in yet another market that PAX payment terminals offer better value in terms of transactional performance, in-the-field reliability, and price”.

Andrew Wu, VP for the EMEA Region, added: “We are grateful to the CBN, as well as our Nigerian channel partners and banking customers, for giving PAX the opportunity to contribute to the Cashless Lagos project”.


PAX is a global leader in the provision of secure electronic payment systems and Point-of-Sale (POS) software. PAX was founded in 2000 and is 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.  Enquiries to [email protected]