Sydney, Australia – 20 August 2013: Mint Wireless Limited (ASX: MNW) (“Mint Wireless”) is pleased to announce that MYOB, a leading provider of business management, accounting, payroll and tax solutions in Australia and New Zealand, has entered into an agreement with Mint Wireless for MYOB to distribute, license and integrate Mint Wireless’ mobile payment solutions with MYOB’s software products.
Under this agreement, Mint Wireless will receive an annual license fee from MYOB and a proportion of the monthly and transaction fees from the users of the mobile payment solution incorporated into MYOB’s software products.
This five year exclusive agreement will cover Australia and New Zealand.
About Mint Wireless Limited
Mint Wireless Limited is a global mobile payments and transactions processing company listed on the Australian Securities Exchange (ASX: MNW). Mint Wireless has a mobile payments technology platform that enables corporate enterprises to accept credit and debit card payments on various mobile phones, tablets and mobile devices. The Company has invested and built bank grade payments technology and infrastructure that has allowed it to become a multi-channel and multi-national payments organisation. Mint Wireless is headquartered in Sydney, Australia with offices and operations in London and Singapore. Mint Wireless has won many hardware and software awards including Microsoft and IBM’s Consensus Awards in 2008. In 2009, Mint Wireless was recognised as one of Australia’s best performing small-to-medium companies, ranking 4th in the BRW Fast 100 awards, and ranking 5th in the SmartCompany.com.au Smart 50 awards.
About MYOB Group
MYOB is a leading provider of business management, accounting, payroll and tax software in Australia and New Zealand, supplying its software, services and support to small and medium sized enterprises (“SMEs”) and public accountants. MYOB’s solutions extend online, delivering innovation through cloud accounting solutions such as LiveAccounts and AccountRight Live. This enables its clients to be more productive, supporting more streamlined connections with their staff, business partners, business advisors and customers. MYOB estimates it currently holds a market share of approximately 60–70% for SMEs and approximately 60–70% for public accountants, by revenue from sales of these products and services in Australia and New Zealand. MYOB believes clients value the ease of use, reliability, integrated nature, ongoing regulatory compliance updates and client support services that it provides. MYOB commenced operations over 20 years ago and now supports well over 1.2 million businesses, predominantly SMEs, and more than 40,000 accountants across Australia and New Zealand. MYOB employs more than 1000 staff and is headquartered in Melbourne, Australia. It has four key business divisions, which are supported by group functions including finance, strategy, marketing, IT, legal and human resources. Funds advised by Bain Capital became the majority owner of the MYOB Group in September 2011. Bain Capital has a significant history of advising on investments in software and business services companies globally.