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Bank of Maharashtra, Airpay launch PAX Technology’s D200 in India

· Press Releases

(Hong Kong, PRC, 29 Aug 2016) 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, is pleased to launch its innovative payment service through Airpay and Bank of Maharashtra (BOM) in India.

The Reserve Bank of India (RBI) announced plans to increase the number of payment terminals in the country from around 1.5 million to over 20 million in coming years, as part of a drive toward creating a cashless economy. As one of the participating parties, PAX has experienced a surge of demand for the innovative mPOS D180 and D200.

Airpay has partnered with BOM to enter the card acceptance business and will deploy a couple of thousand units of the GPRS enabled D200 to be used in a wider merchant acceptance network, including universities, schools, hospitals, hotels and retail merchants, and drive transaction volumes with Airpay’s solution.

Mr. Amit Kapoor, Co-Founder at Airpay, commented: “This collaboration, will enable us to provide omni-channel payment solutions to BOM’s existing and new customers.”

Mr. Mark O'Flynn, Sales Director for PAX in India, added: “Part of RBI’s wider strategy to deploy more terminals involves the granting of payment licenses to non-bank organizations, and we are seeing one of the first moves here.”

Ms. Heidi Hoo, Vice General Manager for the APAC regional of PAX, concluded: “As happened in Brazil where PAX has over 1.3 million MPOS terminals deployed, our D180 and D200 devices are extremely popular in India due to a combination of cost-effectiveness, superior technical reliability, and full NFC Contactless offering.”

The D180 and D200 are also helping the environment in that no physical paper receipt is generated for each transaction, instead, the cardholder can opt to have a receipt sent via email or SMS.

Ms. Heidi Hoo, Vice General Manager for the APAC regional of PAX, concluded: “As happened in Brazil where PAX has over 1.3 million MPOS terminals deployed, our D180 and D200 devices are extremely popular in India due to a combination of cost-effectiveness, superior technical reliability, and full NFC Contactless offering.”

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