Australian mobile payment transaction processing software provider, Mint Wireless, has signed its first NZ-based customer through a new contract with the Bank of New Zealand (BNZ).
The agreement will see Mint supply a white-labelled mobile payments solution through which BNZ’s PayClip software will be delivered, making the Bank the first NZ company utilising Minterprise.
The new PayClip promises simplified integration of card payments across mobile devices (including iOS, Android, and Windows Mobile devices), turning them into fully-featured credit and debit systems. The technology is based on a card present, online, real-time mobile solution that enables EMV-based chip and sign transactions.
In layman’s terms, the platform allows customers to take PCI-compliant, card present mobile payments through smartphones and tablets, with both Mint and BNZ will receiving a portion of the monthly transaction fees.
According to a statement, BNZ said the Minterprise platform will give its small business customers access to an affordable payment solution to enable them to receive payments as soon as the next business day.
“Using Mint technology we are able to address one of the biggest pain points for small and medium businesses: managing cash flow while waiting for payment,” BNZ head of small business, Harry Ferreira, said.
Ferreira also said receiving payments earlier will help partners reduce the cost associated with debt funding the shortfall between delivering a product or service and receiving payment for it.
All BNZ customers are now able to pre-register for the new solution, with PayClip expected to be available from next month.
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