Draft:AXS Pte Ltd - Wikipedia


Article Images
AXS Pte Ltd
Formation2000
FounderJoey Chang, Jeffrey Goh, Eugene Chan
Headquarters61 Mohamed Sultan Rd, Singapore 239001

Group CEO & Executive Director

Jeffrey Goh

CEO, AXS Services

Chin Mun Chung

CEO, AXS Payments

Quah Chun Han
Websitewww.axs.com.sg

AXS Pte Ltd is a Singapore-based company incorporated in 2000, providing payment services through an electronic service delivery network (ESDN).[1]  It started as a joint venture between NETS and Primefield, and was initially named AXS InfoComm Pte Ltd.[1][2]

The company proceeded to set up a network of self-service transactional kiosks, known as AXS Stations, by 2001. These kiosks were designed to let users make phone calls, pay bills and fines, check emails, and access websites, among other functions.[2] Today, AXS-Stations are available across Singapore, located in shopping malls, commercial buildings, and transport hubs.[3]

In 2013, AXS launched two new payment channels – the AXS m-Station (mobile) and AXS e-Station (web).[4] In 2024, AXS launched AXS Drive (mobile app) with the aim of bringing parking convenience to drivers.[5][6]

AXS was a subsidiary of DBS Bank from 2006 – 2023.[7] In August 2023, DBS Bank sold a 77.8% stake in AXS to Tower Capital Asia, a private equity firm, to support AXS's growth and innovation.[8][9] AXS announced plans to transform into a regional provider of cloud-based payment solutions, with support from Tower Capital Asia, by investing in technological advancements and expanding its payment services.[10]

Since the company started its operation, AXS has processed over 650 million transaction count with total payment value exceeding S$210 billion.[11] AXS currently is a Major Payment Institution in Singapore licensed under the Payment Services Act by the Monetary Authority of Singapore (MAS).[12]

References

  1. ^ a b Frances, Joy (March 27, 2001). "New Web Stations". TODAY, Singapore. p. 5. Retrieved July 29, 2024.
  2. ^ a b Ng, Desmond (April 14, 2001). "Smile You're on the Public Phone Camera!". The New Paper. p. 13. Retrieved July 29, 2024.
  3. ^ Tay, Kelly (January 5, 2015). "Building Points of Access". The Business Times. p. 6. Retrieved July 29, 2024.
  4. ^ N.A. (September 10, 2013). "Pay Your Bills via AXS with Phone App or on the Net". The Straits Time. p. 3. Retrieved July 29, 2024.
  5. ^ "AXS launches app for cardless parking at some malls and commercial buildings". CNA. Retrieved 2024-08-26.
  6. ^ Abdullah, Zhaki (2024-07-17). "New mobile app by AXS allows cardless payment at commercial carparks". The Straits Times. ISSN 0585-3923. Retrieved 2024-08-26.
  7. ^ Siow, Li Sen (June 10, 2006). "DBS to Buy Further 54% Stake in AXS". The Business Times. p. 5. Retrieved July 29, 2024.
  8. ^ Zhu, Michelle (2023-07-11). "DBS to sell majority stake in AXS to private equity firm Tower Capital Asia". The Straits Times. ISSN 0585-3923. Retrieved 2024-08-26.
  9. ^ Asmani, Azrin (June 10, 2006). "DBS Will Pay $1 for Majority Stake in Network of AXS Stations". The Straits Times. p. 17. Retrieved July 29, 2024.
  10. ^ "DBS divests majority stake in AXS to Tower Capital Asia". DBS Bank. Retrieved July 29, 2024.
  11. ^ "AXS | Our Story". AXS. Retrieved 2024-08-26.
  12. ^ "Financial Institutions Directory". Monetary Authority of Singapore. Retrieved August 24, 2024.