PG Electroplast Signs Pact With PAX India to Manufacture POS Devices in India

21 Aug 2025 , 01:00 PM

PG Electroplast shares gained 3.6% on August 21, 2025 as the company announced that it has signed a definitive agreement with PAX India, a subsidiary of PAX Global Technology, to manufacture Point-of-Sale (POS) devices in India. Under the agreement, PG Electroplast will produce PAX-branded POS devices at its existing facilities, with manufacturing expected to begin by the end of 2025. The deal marks PG Electroplast’s entry into the fintech hardware segment, expanding beyond consumer electronics into high-growth digital infrastructure solutions.

POS (Point-of-Sale) devices are electronic systems used by businesses to process customer transactions. They have evolved from basic cash registers into integrated systems capable of handling multiple payment methods, inventory management, and business analytics.

PAX Global Technology, listed on the Hong Kong Stock Exchange, is a global leader in electronic payment terminal solutions. Its portfolio includes Android smart POS, unattended payment devices, classic POS terminals, and SaaS-based cloud platforms. The company has a presence in over 100 countries through local offices, partners, and integrators.

PAX India, established in 2018, has become a market leader in the Indian POS industry, working with top banks, acquirers, and technology providers to deliver tailored digital payment solutions.

PG Electroplast is among India’s leading Electronic Manufacturing Services (EMS) and contract manufacturing providers. The company has one of the largest plastic injection moulding capacities in India and offers end-to-end solutions in OEM and ODM across products like washing machines, room air-conditioners, air coolers, and LED TVs.

With this partnership, the company expands into fintech hardware manufacturing, diversifying its portfolio beyond consumer durables.

For feedback and suggestions, write to us at [e-mail]