25 Nov PAX Partners With China UnionPay Merchant Services For Contactless Payment Solution
Shenzhen, China – November 25, 2014
PAX Technology Ltd., a leading global provider of electronic payment terminals, is pleased to deliver a more flexible contactless payment solution in partnership with China UnionPay Merchant Services (“UMS”), the largest bankcard acquiring and standardized services provider nationwide.
UMS will run on PAX’s smart card terminals T60, T610 and T620. All these models feature an advanced contactless readers to accept different kinds of smart card applications, delivering a fast, convenient and secure customer engagement, which highly match the UMS’s development pattern on contactless payments.
UMS is a subsidiary of China UnionPay with business focusing on bankcard acquiring and third-party services, providing quality, efficient and standardized services for card issuers, merchants and cardholders through its far-reaching service network across China. As the end of August 2014, UMS has a network of more than 337 regions in China , with more than 3 million merchants, maintenance of more than 4 million POS terminals and 24,000 ATMs. UMS is the largest bankcard acquiring and standardized services provider, covering multiple industries, such as department stores, supermarkets, hotels, airlines, travel agencies, financial and tax services, e-commerce logistics, manufacturing companies, etc. PAX has been UMS’s preferred partner since 2002.
Mr. Chun Yu, Director of Product Development at PAX, stated:”As the applications of smart cards become a market trend, PAX is always exploring new ways to add value to our customers, as to continuously innovate and enrich our product lines for better adapt to new and evolving types of consumer behaviors.”
About PAX (www.pax.com.cn)
PAX Technology Limited (“PAX”) is an innovative global provider of electronic payment solutions, offering world-class, cost-effective and superior quality products. Building on its service excellence and proven leadership position, PAX is one of the fastest growing payment industry suppliers with state-of-the-art manufacturing facilities, excellent R&D capabilities and a worldwide network of sales and channel partners. PAX is listed on the Hong Kong stock exchange as PAX Global Technology Ltd. (0327.HK).