Pax Global Technology : and Bank of Communication Team up Again for E-Payment Terminals

[For Immediate Release]

PAX and Bank of Communication Team Up Again For E-payment Terminals

(HongKong, PRC, 1st December 2017) 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 announced a renewal of the contractual agreement to supply China's Bank of Communications ("BoCom") with payment terminal solutions as part of a major upgrade to their domestic payment acceptance infrastructure.

The selected models include Countertop Payment Terminal S80/S78, Mobile Terminal S90 and Hand-over Payment Terminal S60-S/S60-T. All these products possess excellent performance and reputable market recognition will enable BoCom to provide merchants of all sizes across China with preferred payment experience.

Mr. Yongqiang Qi, Vice President at PAX, said: "BoCom has been a long-standing customer of PAX since 2004 and we are delighted that they have renewed their trust in our company. Long-term we are working closely with the bank to develop cutting-edge innovative technologies to provide better overall solutions and services to Chinese merchants and cardholders alike."

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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 Bank of Communications (www.bankcomm.com)

Established in 1908, BoCom is among the top five leading commercial banks in China, with its business scope covering commercial banking, securities, trusts, financial leasing, fund management, insurance and offshore financial services among others. BoCom has a nationwide and internationally oriented business network, with branches and outlets in developed regions, central cities and international financial centers.

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