PAX Appointed Leading Payment Vendor at Russia's Sberbank

Nov 09, 2015, 09:00 ET from PAX Technology Limited

SHENZHEN, China, Nov. 9, 2015 /PRNewswire/ -- PAX Technology (HKEx: 0327 - PAX GLOBAL), a global leader in the provision of secure electronic payment terminal solutions, has become the major payment terminal supplier to Sberbank, the largest bank in Russia. This partnership will further reinforce PAX's presence and drive further revenue opportunities in the financial year 2016.

PAX and regional channel partner INPAS hosted a media briefing in Moscow on October 25th  during which the full range of  E-payment Terminals selected by Sberbank were showcased, including the S80 countertop, D210 mobile terminal and the integrated retails PinpadS200 and S300.

Mr. Jack Lu, CEO of PAX, said, "INPAS has proven to be an excellent strategic partner and with PAX having already gained significant market share, Russia has become a key market for us". He added: "The alliance with Sberbank will allow both companies to exploit new revenue opportunities in the growing Russian market, and we will continue to invest in the local market in delivering a faster, more convenient and increasingly reliable set of services to consumers."

Mr. llya Korobov, General Manager of INPAS, concluded, "Through years of diligent effort, PAX has captured an increasing share of the local market and as a main supplier to Sberbank, we are now even more confident of taking a greater slice of the Russian payments business."

About PAX (www.pax.com.cn)

PAX Technology is an innovative global provider of electronic payment solutions, offering world-class, cost-effective and superior quality products. Building on its service excellence and proven leadership position, PAX is one of the fastest growing payment industry suppliers with state-of-the-art manufacturing facilities, excellent R&D capabilities and a worldwide network of sales and channel partners. PAX is listed on the Hong Kong stock exchange as PAX Global Technology Ltd. (0327.HK).

About Sberbank of Russia (www.sberbank.ru)

Founded in 1841, Sberbank of Russia is the largest stated-owned commercial bank in Russia. Sberbank has over 20,000 branches throughout the country. Sberbank serves over 1,300,000 corporate customers in Russia and more than 250 million merchants enjoy Sberbank's services, capturing 60% of POS installed base in the local market.

About INPAS (www.Inpas.ru)

INPAS Company (Innovative Payment Solutions) is a leading integrator of payment solutions, with over 500 clients in the banking and retail sector. INPAS supplies POS-terminal equipment, software applications, including multivendor UNIPOS software, cards and mobile business applications, acquiring management systems and cash handling equipment.

SOURCE PAX Technology Limited



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