Australian-listed mobile payments and transactions processing company, Mint Wireless, has sealed a deal to deliver its PayClip mobile payments solution to the Bank of New Zealand.
Under the agreement with Mint Wireless, BNZ is Mints first New Zealand customer utilising its custom mobile payments platform, Minterprise. Mint will supply BNZ with a white labelled mobile payments solution allowing BNZ customers to take card payments through smartphones and tablets.
The agreement will see BNZ and Mint each receive a proportion of the monthly transaction fees from users of the mobile payment solution. Alex Teoh, Mint Wireless CEO, says the PayClip solution, utilising Mint technology, simplified the integration of card payments across multiple mobile devices, including iOS, Android and Windows Mobile devices, turning them into fully-featured credit and debit card payment systems. The technology is based on a card present, online, real-time mobile solution that enables EMV-based chip and sign transactions – all through standard smartphone devices.
According to Teoh, BNZ is the first Australasian bank to offer technology of this kind and he said the platform would give its small business customers access to an affordable mobile payment solution which will enable them to receive payments as soon as the next business day.