Australian-based buy now pay later (BNPL) provider specialising in higher-value purchases, Payright Limited (ASX: PYR) (‘Payright’ or ‘the Company’), has entered into a partnership with Mint Payments Limited (‘Mint Payments’) to integrate Payright’s BNPL solution into its online payments processing system.
Under the agreement, Mint Payment’s 7,000+ merchants will have access to Payright’s BNPL solution for eCommerce and in store transactions. The partnership will present opportunities for Payright to partner with accredited Mint Payment merchants who will be able to switch on Payright’s solution in the merchant platform.
Mint Payments is an Australian fintech specialising in a wide range of end-to-end payment solutions for business across Australia, New Zealand and Singapore, and its merchants include well-known brands such as Nutrimetics, Tupperware, Fuji Film, Nestle, Helloworld and Jim’s Financial Services. It enables organisations and businesses of all sizes to accept, process and manage payments online and through various EFTPOS, mPOS, mobile and tablet devices, aligning with Payright’s strategy to build out its payment ecosystem.
Co-CEO Piers Redward said: “Our partnership with Mint Payments will play an important role in the evolution of our payment ecosystem. Mint Payment services a reputable and extensive network of more than 7,000 merchants across travel and accommodation, online retail and hospitality, trade and professional services, making it a strategic fit for our BNPL product tailored to higher-value purchases.”
Co-CEO, Myles Redward, added: “The Mint Payments integration represents a significant opportunity for Payright to partner with several thousand new merchants across our key target verticals. We look forward to working with Mint Payments and extending our footprint via its merchants to drive further value for our shareholders.”
Co-Founder and Group CEO of Mint Payments, Alex Teoh, said: “We are always looking to improve the way our merchants are able to transact online, and the addition of Payright’s BNPL solution allows us to elevate the flexibility available for their customers and suppliers through our online payments system. BNPL continues to rise in popularity as a payment method and Payright’s seamless user experience and focus on bigger ticket items made it an attractive partner for our business. Together with Payright, we look forward to continuing to make e-commerce less complicated for Australian consumers.”