Araxi chief executive Bradley Sacks said the company was on a really good footing going into its 2027 financial year, after its Halo Dot offering enabled the May 2026 launch of Apple’s Tap to Pay on iPhone in South Africa.
STRATEGIC LAUNCH AND BUSINESS POSITION
Halo Dot, an Apple Gateway Service Provider, enabled the launch through a partnership with a major retailer and Paycorp, ITWeb reported.
Araxi said Halo Dot has also been approved as an Apple Gateway Service Provider to enable the launch of Tap to Pay on iPhone solutions in other markets.
RESULTS
Araxi, formerly Capital Appreciation, said the number of point-of-sale terminals in customers’ hands rose 5.4% to 447,000 at the end of the financial year.
In May 2026 Araxi completed the R1 billion acquisition of an 80% stake in Pay@ Group, a provider of business-to-business integrated payments solutions.
The comments followed Araxi's results for the year to 31 March 2026, in which revenue fell 6.8% to R1.166 billion and EBITDA fell 16.4% to R279.3 million as a worldwide shortage of microchips delayed the delivery of terminals.
Sources: Moneyweb, ITWeb, Business Report