KNET certify POS terminals from PAX,continue strategy of direct vendor relationships in Kuwait - PAX Technology Inc.
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KNET certify POS terminals from PAX,continue strategy of direct vendor relationships in Kuwait

KNET certify POS terminals from PAX,continue strategy of direct vendor relationships in Kuwait

Kuwait, November 10, 2010-KNET, the Shared Electronic Banking Services Company (K.S.C.C.) of Kuwait announced the successful certification of PAX Technology’s S80 handover and S90 mobile POS terminals. KNET is the national switch in Kuwait overseeing an install base of some 25,000 POS terminals as well as ATMs and ecommerce gateways for both the private and the government sectors.

Abdulla Al Ajmi, GM at KNET, commented: “We decided a year ago to pursue a strategy of working directly with payment technology suppliers.  PAX has proven itself to be an extremely focused and supportive vendor.  PAX’s S-Series POS terminals are well designed and exceptionally robust, and from a technical viewpoint offer superior EMV transaction performance”.
One of the key elements of PAX’s game-changing strategy in the Middle East is that of offering acquirers & processors the choice to benefit economically and strategically by contracting directly with PAX for the sourcing of POS terminal hardware and software.

Mark O’Flynn, MD at Acquirer Solutions, has been contracted by PAX as regional sales manager and commented: “To date banks in this region have had no choice but to rely on sourcing POS solutions through local distributors.  This new strategy means that acquirers and processors can now choose to save many millions of dollars by dealing directly with the POS manufacturer and, most importantly, will choose to retain control and IP rights over the EMV software application source code”.
Andrew Wu, recently appointed VP of the EMEA region at PAX, added: “PAX is ranked by several independent industry publications as one of the fastest growing and dynamic POS manufacturers”.  He continued: “PAX solutions are increasingly being chosen by customers in the Europe Middle East Africa region, looking to implement new POS supplier strategies”.

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.

About PAX TECHNOLOGY (www.pax.us)
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.

About KNET (www.knet.com,kw)
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