PAX Announces the Appointment of Andy Chau as President and CEO of U.S. Operations

PAX, the leading global provider of innovative electronic payment terminal products, today announced the appointment of Andy Chau as President and Chief Executive Officer of PAX’s United States operations, effective immediately. Mr. Chau is responsible for directing and driving business activities in the United States for PAX, one of the fastest growing point-of-sale (POS) solution providers in China. He replaces Michael Mulcahy, who has left PAX to pursue other opportunities.

"The North America market is a key component of PAX’s recent announced initiative to increase global market share when the Company went IPO on the Hong Kong Stock Exchange," said Mr. Tiger Nie, Chairman of PAX.

"With Mr. Chau’s appointment, PAX has shown its commitment to the operations in the United States of America and Canada. The Company will retain and build channel sales and technical resources in North America to provide excellent products and enhanced services to partners and customers of PAX in this region."

Mr. Chau has over 15 years of industry experience. Prior to joining PAX, Mr. Chau co-founded and served as the CTO for SoundPOS which was acquired by a private investment firm in 2010. Prior to SoundPOS, Mr. Chau was the Vice President of technology at Hypercom, a provider of electronic payment solutions and services. Previously, Mr. Chau co-founded TPI Software in 2001 and served as the CTO until TPI Software was acquired by Hypercom in 2006. Mr. Chau holds a Master's Degree in Information Technology from Harvard University, a Master's Degree in Electrical Engineering from the University of Wisconsin at Madison and a Bachelor's Degree in Computer Science from the State University of New York at Buffalo.

About PAX Global Technology Limited

PAX has been serving the global retail marketplace for over ten years and has distribution in over thirty countries. In a recent Nilson Report, PAX was listed as the fastest growing of the Top 10 terminal manufacturers with a 54% increase in global sales in 2008. PAX is the dominant supplier in China and has established its North American headquarters in Melville, New York.

PAX offers a complete line of products and services supported by extensive R&D capabilities with a growing staff of more than 100 engineers. In addition to a most competitive pricing model, quality assurance is the company’s top priority which enables PAX to have a strong advantage in the marketplace.

www.pax.us