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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.[2][3]

The company planned to set up a network of self-service kiosks, known as AXS Stations, by the end of 2000. These kiosks were designed to let users make phone calls, pay bills and fines, check emails, and access websites, among other functions.[4][5] Today, AXS-Stations are available across entire Singapore, locating in shopping malls, commercial buildings, and transport hubs.[6]

In 2013, AXS launched two new payment channels – the AXS m-Station (mobile) and AXS e-Station (web). Through partnerships with government agencies, financial institutions, and businesses.[7][8] According to The Straits Times, DBS Bank mentioned AXS plays a significant role in Singapore's transition to a cashless society. [9][10][7]

In 2006, AXS became a subsidiary of DBS Bank.[11][12] Later, in 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.[11][13] 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.[1]

Since the company started its operation, AXS has processed over 650 million transaction count with total payment value exceeding S$210 billion.[14] AXS currently is a Major Payment Institution in Singapore licensed under Payment Services Act by Monetary Authority of Singapore, MAS.[15]

References

  1. ^ a b "DBS divests majority stake in AXS to Tower Capital Asia". DBS Bank. Retrieved July 29, 2024.
  2. ^ Buenas, Daniel (September 25, 2000). "IT Takes - Primefield, Nets Form AXS." The Business Times Singapore, September 25, 2000, 5. Accessed from July 25, 2024, National Library Board". The Business Times Singapore. p. 5. Retrieved July 25, 2024.
  3. ^ Koh, Edna (September 15, 2000). "Web Enabled Nets Kiosks by Year-End". The Straits Times. pp. 8–9. Retrieved July 29, 2024.
  4. ^ Ng, Desmond (April 14, 2001). "Smile You're on the Public Phone Camera!". The New Paper. p. 13. Retrieved July 29, 2024.
  5. ^ Frances, Joy (March 27, 200). "New Web Stations". TODAY, Singapore. p. 5. Retrieved July 29, 2024.
  6. ^ Tay, Kelly (January 5, 2015). "Building Points of Access". The Business Times. p. 6. Retrieved July 29, 2024.
  7. ^ a b 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.
  8. ^ "AXS Adds New Top Up Category, More Fines Payment Services Into AXS m-Station & e-Station". Yahoo News. 2014-01-27. Retrieved 2024-08-26.
  9. ^ "DBS, AXS team up to offer digital and mobile payment for condo fees". The Straits Times. 2017-01-19. ISSN 0585-3923. Retrieved 2024-08-26.
  10. ^ Nande, Khin (November 1, 2005). "Potential Payoffs in Home AXS Machines". The Business Times. p. 8. Retrieved July 29, 2024.
  11. ^ a b 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.
  12. ^ Siow, Li Sen (June 10, 2006). "DBS to Buy Further 54% Stake in AXS". The Business Times. p. 5. Retrieved July 29, 2024.
  13. ^ 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.
  14. ^ "AXS | Our Story". AXS. Retrieved 2024-08-26.
  15. ^ "Index to Islamic Banks and Financial Institutions", Directory of Islamic Financial Institutions (RLE: Banking & Finance), Routledge, pp. 113–224, 2012-05-31, ISBN 978-0-203-11663-0, retrieved 2024-08-26
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