Mobile payments and transaction processing company, Mint Payments (ASX:MNW) has partnered with fintech company, Tappr.
Tappr will integrate its point of sale application with Mint’s ‘card present’ payment solution to accept various card payments including Visa, MasterCard and EFTPOS through popular payment methods including Apple Pay, Contactless, Chip &Pin and Magnetic Swipe.
Tappr specifically targets SMEs in providing mobile POS, business analytics and lending.
The initial partnership agreement is for 18 months with 12-month renewal periods thereafter.
The Tappr solution features a reader, app and dashboard analytics and will service SME customers.
Mint will also supply merchant acquiring services to Tappr, which will allow both companies to derive revenues from a share of monthly fees, merchant services and transaction fees.
Under the agreement, Tappr will also be required to purchase a minimum of 500 licenses and hardware from Mint with every order.
“This agreement with Mint will see Tappr accepting payments well in advance of finalising development of its own proprietary card reader that is currently in prototype stage,” Tappr founder and CEO, Brett Hales, said.