Sydney, Australia – 3 February, 2025 – Mint Payments is pleased to announce the successful launch of Mint Protect, a specialised chargeback guarantee solution designed to safeguard travel businesses from the financial risks associated with disputed transactions. Officially live from 1 February 2025, Mint Protect is here to transform how travel merchants manage chargeback risks.
What is Mint Protect?
Mint Protect is an innovative solution from Mint Payments Limited, crafted specifically for the travel industry. This service absorbs losses related to chargebacks caused by supplier insolvency, non-delivery, and fraud. By offering this protection, Mint enables merchants to concentrate on growing their businesses without the constant worry of unexpected financial setbacks.
Why Do Travel Agents Need Protection Against Chargebacks?
Travel agents operate in a unique position, often acting as intermediaries between travellers and suppliers. This role exposes them to significant chargeback risks, as credit card protections heavily favour consumers; with up to 77% of chargeback outcomes favouring the cardholder despite strong evidence being provided by the merchant. On average, travel agents are losing 0.89% of their annual revenue to chargebacks and associated fees. With the past year seeing nine airlines globally go insolvent or into administration, and rates of credit card fraud on the rise globally, travel agents have been in dire need of a solution.
A word from Mint Payments CEO, Alex Teoh
“With Mint Protect eliminating the burden of chargeback risks our merchants face every day, we are empowering them to grow with confidence and, provide them with a new standard for merchant support in the travel sector. Our merchants can now focus on growing their travel business through exceptional travel experiences, letting Mint Protect handle the risks.”
Existing Mint merchants and those who haven't yet made the switch to Mint are encouraged to speak to our team and eliminate business risk with Mint Protect.
About Mint Payments: Mint Payments is an Australian fintech simplifying payments for complex businesses. With innovative, end-to-end solutions, Mint empowers merchants to thrive in a fast-changing world.
