 | |
| 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 |
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.
PAX 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]
In October 2021, Worldpay, Inc., a subsidiary of FIS, began removing PAX point of sale products due to cybersecurity concerns. [9]
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]
The Octopus card is a reusable contactless stored value smart card for making electronic payments in online or offline systems in Hong Kong. Launched in September 1997 to collect fares for the territory's mass transit system, it has grown into a widely used system for transport and other retail transactions in Hong Kong. It is also used for purposes such as recording school attendance and permitting building access. The cards are used by 98 percent of the population of Hong Kong aged 15 to 64 and the system handles more than 15 million transactions, worth over HK$220 million, every day.
Near-field communication (NFC) is a set of communication protocols that enables communication between two electronic devices over a distance of 4 cm (1.57 in) or less. NFC offers a low-speed connection through a simple setup that can be used to bootstrap more capable wireless connections. Like other "proximity card" technologies, NFC is based on inductive coupling between two so-called antennas present on NFC-enabled devices—for example a smartphone and a printer—communicating in one or both directions, using a frequency of 13.56 MHz in the globally available unlicensed radio frequency ISM band using the ISO/IEC 18000-3 air interface standard at data rates ranging from 106 to 848 kbit/s.
TCL Technology is a Chinese electronics company headquartered in Huizhou, Guangdong Province. It designs, develops, manufactures, and sells consumer products including television sets, mobile phones, air conditioners, washing machines, refrigerators, and small electrical appliances. In 2010, it was the world's 25th-largest consumer electronics producer. It became the second-largest television manufacturer by market share by 2019.
A payment is the voluntary tender of money or its equivalent or of things of value by one party to another in exchange for goods or services provided by them, or to fulfill a legal obligation/philanthropy desire. The party making the payment is commonly called the payer, while the payee is the party receiving the payment.
Network for Electronic Transfers, colloquially known as NETS, is a Singaporean electronic payment service provider. Founded in 1985, by a consortium of local banks, it aims to establish the debit network and drive the adoption of electronic payments in Singapore. It is owned by DBS Bank, OCBC Bank and United Overseas Bank (UOB).
Google Pay Send, previously known as Google Wallet, was a peer-to-peer payments service developed by Google before its merger into Google Pay. It allowed people to send and receive money from a mobile device or desktop computer.
Moneris is a Canadian financial technology company that specializes in payment processing.
Contactless payment systems are credit cards and debit cards, key fobs, smart cards, or other devices, including smartphones and other mobile devices, that use radio-frequency identification (RFID) or near-field communication for making secure payments. The embedded integrated circuit chip and antenna enable consumers to wave their card, fob, or handheld device over a reader at the Point-of-sale terminal. Contactless payments are made in close physical proximity, unlike other types of mobile payments which use broad-area cellular or WiFi networks and do not involve close physical proximity.
Heartland Payment Systems, Inc. is a U.S.-based payment processing and technology provider. Founded in 1997, Heartland Payment Systems' last headquarters were in Princeton, New Jersey. An acquisition by Global Payments, expected to be worth $3.8 billion or $4.3 billion. was finalized on April 25, 2016.
Fidelity National Information Services, Inc. (FIS) is an American multinational corporation which offers a wide range of financial products and services. FIS is most known for its development of Financial Technology, or FinTech, and as of Q2 2020 it offers its solutions in three primary segments: Merchant Solutions, Banking Solutions, and Capital Market Solutions. Annually, FIS facilitates the movement of roughly $9 trillion through the processing of approximately 75 billion transactions in service to more than 20,000 clients around the globe.
A payment terminal, also known as a point of sale (POS) terminal, credit card machine, PIN pad, EFTPOS terminal, is a device which interfaces with payment cards to make electronic funds transfers. The terminal typically consists of a secure keypad for entering PIN, a screen, a means of capturing information from payments cards and a network connection to access the payment network for authorization.
Amazon Pay is an online payments processing service owned by Amazon. Launched in 2007, Amazon Pay uses the consumer base of Amazon.com and focuses on giving users the option to pay with their Amazon accounts on external merchant websites. As of March 2021, the service became available in Austria, Belgium, Cyprus, Denmark, France, Germany, Hungary, India, Republic of Ireland, Italy, Japan, Luxembourg, Netherlands, Portugal, Spain, Sweden, Switzerland, United Kingdom, and the United States.
Worldpay Group plc was a payment processing company. It was acquired by FIS in July 2019 for $43 billion. It was listed on the London Stock Exchange until 16 January 2018 when it was acquired by Vantiv to form Worldpay, Inc.
Cantaloupe, Inc., previously known as USA Technologies Inc., is an American company known for its work with ePort cashless acceptance technology running on its patented ePort Connect service, a PCI compliant, comprehensive suite of services designed for the self-serve, unattended market. ePort Connect wirelessly facilitates electronic payment options to consumers with credit, debit, or NFC enabled electronic wallets like Apple Pay and Google Pay while providing operators with both telemetry and machine-to-machine (M2M) services. ePort technology is primarily found in vending machines, kiosks and point-of-sale (POS) terminals, but the ePort Online and ePort Mobile products have extended the network to accept recurring payments from a PC or retail outlets and the taxi industry through smartphone devices.
Worldpay, Inc. was an American payment processing company and technology provider. In June 2019 it was acquired and merged into Fidelity National Information Services (FIS). Before its acquisition, it was headquartered in the greater Cincinnati, Ohio area. Worldpay, was the largest U.S. merchant acquirer ranked by general-purpose transaction volume.
Payanywhere is a payments platform and app that allows merchants in the United States to accept credit and debit card payments while building customer relationships in-store, online, or on the go. Merchants may accept payments on their smartphone via a Bluetooth card reader or on an in-store “Storefront” solution featuring a tablet and stand, which was introduced on April 8, 2014. PayAnywhere offers credit card readers and apps that are compatible with both Apple and Android devices.
Samsung Pay is a mobile payment and digital wallet service by Samsung Electronics that lets users make payments using compatible phones and other Samsung-produced devices. The service supports contactless payments using near-field communications (NFC), but also supports magnetic strip-only payment terminals by incorporating magnetic secure transmission (MST) in devices released before 2021. In India, it also supports bill payments.
Google Pay is a mobile payment service developed by Google to power in-app, online, and in-person contactless purchases on mobile devices, enabling users to make payments with Android phones, tablets, or watches. Users can authenticate via a PIN, passcode, or biometrics such as 3D face scanning or fingerprint recognition.
NEXGO is a global manufacturer of high-tech payment terminals, PIN pads and point of sale hardware and software. Company is headquartered in Shenzhen (China) and focuses on research and development, production, sale, and leasing of financial point of sale (POS) machine-based electronic payment processing products. Its business includes electronic payment, biometric, intelligent hardware, credit business, audit business, blockchain, and big data services. NEXGO operates worldwide through a network of partners and has over 25 million point of sale terminals deployed in over 50 countries.
Google Wallet is a digital wallet platform developed by Google. It is available for the Android, Wear OS, and Fitbit OS operating systems, and was announced on May 11, 2022, at the 2022 Google I/O keynote. It began rolling out on Android smartphones on July 18 while co-existing with the 2020 Google Pay app.
