PAX Technology is a Chinese manufacturer of payment terminals, PIN pads, and point of sale hardware and software.[2] The company is headquartered in Shenzhen, listed on the Hong Kong Stock Exchange and sells its products globally.
 | |
| Company type | Public |
|---|---|
| SEHK: 327 | |
| Industry | Financial services |
| Founded | 2000 |
| Headquarters | , |
Key people | Nie Guoming (Chairman), Jack Lu (CEO) |
| Products | Point of sale, Payment terminals, PIN pads |
| Revenue | US$563M[1] |
Number of employees | 1800 (2018) |
| Website | www |
History
editPAX Technology was founded in Shenzhen (China) in 2000. Jack Lu and Tiger Nie are currently Group CEO and chairman of the Board respectively.[citation needed]
In 2002, PAX was selected as supplier of EFTPOS terminals for China UnionPay Merchant Services and supplier for Bank of China & Bank of Communications in 2004.[3] In 2010, PAX was listed on the Hong Kong Stock Exchange.[4]
In 2013, PAX was listed in Forbes Asia 200 Best Under A Billion Companies.[5] In 2016, PAX announced a strategic partnership with Samsung to implement the Samsung Pay payment method in PAX payment terminals.[6] Later same year, PAX unveiled its first Android smart terminal.[7]
As of October 2022[update], according to Nilson Report, PAX has become the second-largest global payment terminal provider.[8]
Cybersecurity concerns
editIn October 2021, Worldpay, Inc., a subsidiary of FIS, began removing PAX point of sale products due to cybersecurity concerns.[9]
Federal raid of U.S. offices
editOn October 26, 2021, it was reported that agents from the U.S. Federal Bureau of Investigation, Department of Homeland Security, and other federal officials raided the Jacksonville, Florida offices of PAX Technology.[10] KrebsOnSecurity reported the raid was tied to reports that PAX's systems may have been involved in cyberattacks on U.S. and E.U. organizations.[11][9] Following the raid, a senior executive in charge of PAX Technology's security resigned.[12]
See also
editReferences
edit- ^ "PAX 2018 Financial Results: 10 million terminals shipped worldwide & international sales surge 43%". Archived from the original on 21 September 2020. Retrieved 7 March 2019.
- ^ "Is PAX GLOBAL TECHNOLOGY LTD ORDINARY SHARE (OTCMKTS:PXGYF)'s Short Interest Revealing Something?". Thorold News. 27 December 2018.
- ^ "PAX Technology reports China UnionPay Merchant Services deal". Finextra. 3 January 2017.
- ^ "PAX Global - HKEX".
- ^ "Forbes Asia's 200 Best Under a Billion 2013". 13 January 2014. Archived from the original on 1 March 2021. Retrieved 7 June 2022.
- ^ "Samsung Pay Partners with Global POS Providers to Accelerate Mobile Payments Adoption". CIO. 22 April 2016.
- ^ "PAX Impresses at TRUSTECH 2016 with Android Payment Solutions". Market Screener. 12 December 2016. Archived from the original on 28 October 2018. Retrieved 27 October 2018.
- ^ "Card and Mobile Payment Industry News | Nilson Report Newsletter Archive". nilsonreport.com. Retrieved 16 June 2023.
- ^ a b Gallagher, Ryan (27 October 2021). "FIS's Worldpay Replaces PAX Terminals Over Security Concerns". Bloomberg News. Retrieved 30 October 2021.
- ^ "FBI Jacksonville, Homeland Security and other agencies investigating Southside business". WOKV-FM. 27 October 2021. Retrieved 27 October 2021.
- ^ "FBI Raids Chinese Point-of-Sale Giant PAX Technology". Krebs on Security. Retrieved 27 October 2021.
- ^ Turton, William (28 October 2021). "PAX Security Executive Resigns a Day After FBI Raids on Offices". Bloomberg News. Retrieved 30 October 2021.
External links
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