Mobile Commerce

Mint Payments And eWAY Freshen Up The mPOS

Mint Payments has collaborated with eWAY, an online payments provider, on a new initiative that will enable Mint to license its “card present” features with eWAY’s mPOS solution.

The partnership between the two is just one way that eWAY’s more than 20,000 merchants can expand their payment acceptance to include traditional cards — like Visa and MasterCard — but also newer mobile payment options like contactless payments, chip and PIN and mag stripe cards.

“We are very pleased to have the opportunity to partner with eWAY, not only in Australia and New Zealand but in Asia as well. To be part of eWAY’s launch of its mPOS solution is incredibly exciting and we are looking forward to working with eWAY to deliver an innovative and cost effective solution that will allow SMEs to accept more payments,” Alex Teoh, CEO of Mint, said in a news release.

The partnership between the two companies will enable SMEs to have an omnichannel payments solution on an international scale — including the markets of Australia, New Zealand, Singapore, Hong Kong and Malaysia.

eWAY’s upgraded mPOS will integrate Mint’s software and the Mint card reader hardware to enable a multitude of payment options. Because eWAY’s mPOS solution is already designed to help SMBs enhance cash flow, this new partnership will help the payment provider enable SMEs with better transaction options in order to better operate their businesses.

“Forty-two percent of all face-to-face transactions are processed using EFTPOS cards, and by using our mPOS solution, SMEs will be able to sell up to 42 percent more,” said Matt Bullock, CEO of eWAY, in a news release. “Today’s announcement marks eWAY’s expansion into the lucrative omnichannel space by allowing our 20,000-plus merchants to accept card present payments using Mint’s unique, agile and cost-effective mPOS solution.”

As part of the launch of its mPOS solution to enable businesses to accept cashless payments, Bullock said eWAY has realized that businesses expect more of their payment terminals. This means having the ability to provide data collection, inventory updates and more.

That’s why eWAY partnered with Mint Payments and other companies like Quest Payments Systems.

“If you look at those three things, a merchant really wants to know about an invoice whether it’s paid or not; they want to know about inventory and updating stock levels when they sell something; and they also want to tie their customers into it,” Bullock said in another interview.

To check out what else is HOT in the world of payments, click here.

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New PYMNTS Report: Preventing Financial Crimes Playbook – July 2020 

Call it the great tug-of-war. Fraudsters are teaming up to form elaborate rings that work in sync to launch account takeovers. Chris Tremont, EVP at Radius Bank, tells PYMNTS that financial institutions (FIs) can beat such highly organized fraudsters at their own game. In the July 2020 Preventing Financial Crimes Playbook, Tremont lays out how.

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