Bank of Communications in China Selects PAX Technology as Preferred Terminal Vendor

· Press releases

PAX Global Technology Limited ("PAX," HKSE stock code: 00327.HK), one of the world's leading Electronic Funds Transfer Point-of-Sale Terminal ("E-payment Terminal") Solutions Services Providers, has been appointed the preferred payment terminal supplier to Bank of Communications ("BoCom") in China.

BoCom is amongst the top 5 leading Chinese commercial banks, with an extensive network of over 2,800 branches covering over 80 major Chinese cities, as well as Hong Kong.

As China continues to evolve toward an increasingly cashless society, major acquirers are focusing on bringing electronic payments into China's tier 3 and tier 4 cities which have traditionally been under-terminalized.

PAX Technology is the preferred supplier to BoCom, with a wide range of PAX terminals being deployed to their merchants, including countertop models S60, S78, S80, the mobile terminals S90 and D210, and the innovative D180 mPOS device.

Mr. Yongqiang Qi, Vice President at PAX, stated: "PAX terminals have passed rigorous testing procedures and been granted a special cryptographic certification from China's State Encryption Administration Commission". He concluded: "We are very grateful for BoCom's long-term trust and PAX will continue to keep innovating to better serve clients with superior, convenient and secure solutions and services."