PAX Technology
Chinese manufacturer of point of sale hardware and software
From Wikipedia, the free encyclopedia
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) & (CEO) |
| Products | Point of sale, Payment terminals, PIN pads |
| Revenue | US$563M[1] |
Number of employees | 1800 (2018) |
| Website | www |
History
PAX Technology was founded in Shenzhen (China) in 2000. Tiger Nie is currently Group CEO and chairman of the board.[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
In 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
On 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]