Turkish Officials Visit PAX Headquarters, Encourage PAX’s Market Entry

Shenzhen, China, May 9, 2011 – A delegation from Turkey’s official investment agency, ISPAT, headed by Mr. Ilker Ayci, paid a visit to PAX corporate headquarters.

PAX entered the Turkish market during the last quarter of 2010 through the appointment of Verisoft, a reputable local payment system integrator.

Mr Ilker Ayci commented: “With close to 80 million people, Turkey is one of the largest countries in the region; there are 37 local Banks, 44 million credit card users, and over 1.5 million POS terminals”.  He spoke about Turkey’s positive investment environment, the preferential conditions offered to high-tech enterprises such as PAX, and the importance of Turkey as a bridge between Europe and Asia.

PAX Vice President Mr Chen Zhi Yuan said: “The goal of PAX is to become a global POS terminal solution supplier, and PAX is very interested in providing more supplier choice in the Turkish market”.

Turkey’s Banks and other users of POS terminals have seen a massive breakdown in purchasing power.  Just a couple of years ago there were more than 7 suppliers of POS solutions in Turkey.  Due to industry consolidation only 2 are left today in Turkey and many are concerned that more competition and supplier offering is needed, a gap PAX aims to help fill.

About PAX TECHNOLOGY (www.pax-emea.com)

PAX Technology 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.  Mark O’Flynn is EMEA Region Sales Manager: [email protected] or +968 9521 9495.

About VERISOFT (www.verisoft.com)

Verisoft is 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 is Managing Director: [email protected] or +90 532 212 5417.

About ISPAT (www.invest.gov.tr)

The Republic of Turkey Prime Ministry Investment Support and Promotion Agency (ISPAT) is the official organization for promoting Turkey’s investment opportunities to the global business community and providing assistance to investors before, during and after their entry into Turkey.