CEO Insights Magazine

Growth, either personal or professional, is never merely by chance; it is facilitated by proactive action on the part of an individual. While a majority will sit back and expect a stroke of luck to hit them, it is the ones who work hard consistently that taste the sweet rapture of success eventually. Living this truth is Latha Priyadarshini, a successful entrepreneur in the FinTech space and Managing Director of PAX Technologies Pvt. Ltd., an international supplier of secure electronic payment terminal and developer of transactional software services.

Fuelled by the objective to deliver multi brand high tech secure payment solutions across the globe, Latha founded PAX in 2013. Since then,the spirited entrepreneur has been riding the waves of the FinTech market and aligning with the requirements of the industry in order to grow consistently. Latha’s keen eye for market trends and commitment to deliver superior quality products & solutions has earned PAX a global footprint in seven countries including India, Nepal, US, Canada, UK, UAE and Australia. In an in depth conversation with CEO Insights, we examine Latha’s journey from being a cog in the corporate wheel to becoming a paragon for aspiring entrepreneurs.

Tell us about your initial years in the industry and how did the idea to establish PAX Technologies come to fruition?
I have earned an MCA and an MBA degree, post which I stepped into the corporate world where I spent over 17 years helming various management positions with industry big wigs. It was during my stint in the industry where I imbibed critical management skills such as focusing on customer relations, quality, sustainability, profitability and controlled growth.

I always had the vision to start a business of my own; however, I was held back owing to the security that a steady paycheck provided. I understood that an ideal situation would never arrive. So when the opportunity knocked at my door, I

grabbed it with both hands and thus established PAX Technologies in 2013 as a sole trading profile. Sinking my feet deeper into the FinTech industry with time, I had to restructure the company into becoming a solutions based POS company.

Since the word go, PAX has promoted Point of Sale devices and subsequently went-on to build software with an aspiring vision to promote High Quality POS/mPOS/Android Mobile/NFC Mobile phone in the India and EMEA market.

Entrepreneurship is often considered as a path replete with challenges galore. What were the challenges you faced? Also, could you take us through the areas of expertise that PAX Technologies possesses?
Initially, we started with application development and trading of POS devices to financial institutions. I was fortunate enough to introduce a reputed brand of POS device to the Indian market. Gradually, we started service centers and invested time in R&D to explore multiple application on a single POS.

Some of the major challenges we faced were competitive pricing, brand establishment, application & support, establishment of service centers and finances. But our capabilities have only grown owing to every challenge, and we have successfully mitigated every roadblock in our path.

Today, we offer complete hardware (POS Devices), payment applications (customized)/ ECR integrations and also complete managed services (hardware/ software POS applications) dependent upon customer requirements. PAX has also come-up with its own Middleware, EFT Switch Services, sales & business support, merchant acquiring and AMC. In the years to come, we envision introducing data analytics and blockchain solutions to our customers as well.

PAX has earned an enviable spot in the Indian and global FinTech market alike. How did PAX acquire such global domination?
We had always envisaged becoming a global leader in providing IT

solutions with an unrivalled commitment to quality, excellence, and responsiveness in each project. We believe that a key part of our international success has been the ability to establish longterm trusted partnerships withreputed Banks, financial institutions, retail and experienced payment system integrators in each local market, on every continent. Our channel partners have years ofexperience in developing secure software application solutions for our customers. PAX supports international customers and partners with large teams of application development, technical support and post-sales repair service.

Our talented team of experts that comprises of professionals from various departments are our pillar of strength. We identify, nurture, and develop talented professionals, and harness their prowess to assist our clients in achieving their objectives within predetermined time and budget. The very culture of merit under pins the endeavors of our expertly skilled team members, who ensure excellence in every single endeavor of the organization.

Please share a few pearls of knowledge with aspiring entrepreneurs regarding the same.
I have always believed that if your project is not aligned with your vision, you must have the courage to say no; being a good listener also helps. Additionally, be through with documenting your projects, it always comes in handy. Last but not the least, do not shy away from your mistakes and always remember that perusal and patience are the keyin delivering any project successfully.

Key Management
Latha Priyadarshini, Managing Director, PAX Technologies
A professional with over 17 years of experience across companies such as VeriFone, Ingenico Group S.A, Telserra India, IBM and Wipro Technologies, Latha is a maverick in managing design, operation and sales activities at PAX. A hands-on leader, her other strong suites include focusing on customer relations, quality, sustainability, profitability and controlled growth.

Offerings: Hardware (POS Devices), Payment Applications (Customized)/ ECR Integrations, Complete Managed Services (Hardware/Software POS applications), Middleware, EFT Switch Services, Sales & Business Support, Merchant Acquiring and AMC

Offices: India, Nepal, US, Canada, UK, UAE and Australia