Sydney, 10 December 2015: Payments processing technology provider, Mint Payments (ASX: MNW) (Mint or the Company) has signed three landmark agreements with First Data, an international NYSE-listed payment technology provider, bolstering the distribution and capabilities of Mint’s payment solutions.
The new partner provides secure and innovative payment technology and services to more than five million financial institutions and merchants worldwide, spanning large corporations through to small businesses. The multi-billion dollar NYSE-listed partner will provide Mint with an outstanding opportunity to strengthen its position in the Australian and Asia-Pacific payments market.
The agreements cover:
Distribution by the partner of Mint’s card present mobile point of sale (mPOS) solution to its resellers and merchants
Mint’s new partner is an independent licensed acquirer in the Australian market and in the next two years it is aiming to double its 11,000 merchant customers through the promotion and use of physical payment and online payment solutions.
This Distribution agreement will allow the partners’ merchants to accept Visa, MasterCard, AMEX and EFTPOS payments on iOS or Android devices. Mint will supply these merchants with the M010 Bluetooth device, Mint’s EMV level I and II certified payment device supporting Chip & PIN payments. The device is also contactless ready, giving merchants the functionality to accept PayWave, PayPass or token-based wallet payments such as Apple Pay.
Mint will receive a share of transaction fees as well as a monthly fee charged to each merchant.
Mint new acquiring partnership in Australia for its omni-channel payments solution
The acquiring agreement between the parties provides Mint and its distribution partners with new acquiring and transaction pricing options. In addition Mint will have the ability to provide a complete omni-channel (card present and card not present) acquiring solution for its partners and merchants on the Mint Payments platform.
Mint to use the partner as a transaction-switching provider, thereby allowing Mint to provide its solutions to any financial institution or enterprise merchant connected to the partners’ extensive payment processing network
This will provide Mint with access to financial institutions connected to the partners’ network throughout Australia, with an additional pathway to its network in the Asia Pacific region. This is a significant milestone for Mint to support its merchants and provide its omni-channel payment solutions to partners and customers regardless of their financial institution. This significantly opens up the opportunity for Mint to work with these financial institutions and for merchants in the enterprise market.
Alex Teoh, CEO of Mint Payments said: “This is an extremely exciting time for us as these agreements place Mint in a great position where we can offer an even better and more agile payment and acquiring solution to our customers than ever before.
“Having being chosen as a supplier of our mPOS solution by an international payments organisation with a strong and successful track record in the industry is great validation of the Mint Payments technology. We are looking forward to working closely with them to provide Australian businesses with more innovative and flexible mobile and online payment solutions.”
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Alex Teoh | Co-Founder & CEO | email@example.com | +61 2 8752 7888