14 Aug Interview: PAX Technology CEO outlines future growth prospects
Shenzhen, China, 14th August 2013
The CEO of leading secure payment terminal provider PAX Technology, Mr. Jack Lu, recently shared his vision and strategic development plans in an interview with the Hong Kong Apple Daily.
Mr. Lu believes that PAX annual shipments can grow 40% year-on-year, having already achieved turnover increase of 19% until the end of June and with a very positive outlook for the second half of the year. The Chinese market accounted for a 68% share of PAX’s business, where the company is market leader, and international markets accounted for a 32% share.
He commented that PAX’s international growth is set to increase steadily, as the company recently began manufacturing a portfolio of Apple MFi certified (‘Manufactured for Apple’) MPOS mobile payment devices, and is beginning mass production of an innovative range of colour touch-screen POS terminals in the second half of Q4, primarily aimed at international markets.
Mr. Lu concluded by commenting that Chinese expansion will continue as a result of the growing popularity of credit cards and online shopping with local consumers, with PAX in a firmly entrenched position as the preferred POS provider to third party payment service organizations in China.
About PAX (www.pax.com.cn)
PAX Technology Limited is a wholly owned subsidiary of PAX Global Technology Ltd., listed on the Hong Kong Stock Exchange under stock code HKEx 00327. Founded in 2001, PAX is an innovative global provider of secure electronic payment terminals offering world-class, cost effective and superior quality payment solutions. Building on its service excellence and proven leadership position, PAX is today considered one of the fastest growing payment industry companies with state-of-the-art manufacturing and R&D capabilities and a growing channel partner network across the globe.