Source: Mint Payments
Mint Payments (ASX: MNW) (“Mint” or “the Company”) is pleased to announce that its partnership with Bank of New Zealand (“BNZ”) has resulted in the successful deployment and enhancement of BNZ’s “PayClip” payments product, which now enables business owners in New Zealand to accept the full spectrum of card payments, including Visa, MasterCard and EFTPOS through methods such as NFC Contactless, Chip & Pin and Magnetic Swipe.
The new PayClip product is a significant milestone for BNZ as it looks to position itself to take advantage of the New Zealand electronic payments market which is growing at a rapid pace: 125 million electronic card transactions were processed in New Zealand during January 2015, with a total of $6.2 billion spent across all transactions; and smartphone penetration in New Zealand is forecast to rise to 90% by 2018, which will make PayClip accessible to even more businesses.
In addition, Mint will continue to supply its fully branded iOS and Android mPOS apps and the new M10 Bluetooth card reader to BNZ, enabling small business owners to effectively utilise their smartphones or tablets as EFTPOS machines. The new PayClip card reader is one of the smallest and most powerful mobile card readers on the market which features innovative Plug & Play technologies for quick installation. The enhanced hardware readily supports contactless payments - including Apple Pay and other digital wallets using NFC technologies.
To further cement Mint’s presence in the New Zealand payments space, Mint has entered into an aggregation agreement with Paymark. Paymark is New Zealand’s leading electronic payments provider with more than 75,000 merchants and over 110,000 EFTPOS terminals connected to its network. It is estimated that approximately two-thirds of total spending in New Zealand is done electronically using EFTPOS and credit cards, with 75% of New Zealand’s electronic transactions processed by Paymark