PAX Global Technology Limited (“PAX” or the “Company”, together with its subsidiaries collectively known as the “Group”, HKSE stock code: 00327.HK), one of the world’s leading electronic payment terminals solutions providers, has been granted Mir certification on its payment terminal range in Russia.
The Mir card payment system is operated by the National Card Payment System (NSPK), a wholly owned subsidiary of the Central Bank of the Russian Federation (Bank of Russia).
Today, over 19 million Mir cards have been issued and NSPK plans to have them acquired outside Russia through co-badging deals with MasterCard, Japan’s JCB, American Express and China’s Union Pay.
The Mir certification granted to PAX covers the SP30 model, with the mobile wireless terminals S920 and S900, and multilane S300 smart PINpad due to follow suit shortly.
Mr. Larry Sun, VP at PAX said, “As the importance of the Mir card payment system grows, PAX is proud to be the first POS terminal vendor to obtain this certification in Russia, a sign of our commitment to the Russian market through our local channel partner, the Inpas Group.”
Mr. Jack Lu, CEO at PAX concluded, “Usage of the Mir card payment system is expected to grow, with proposed Russian legislation mandating that all welfare payments be processed through the system by January 2018, and as such PAX and Inpas will continue to focus on delivering payment terminal solutions tailored to Russian market requirements”.