Mint Payments raises AU$4m and enters into a new partnership with eWay

Mint Payments Limited, a non-bank, omni-channel payments provider, has completed a placement to a strategic investor, Vix at the same time as it signed an agreement with payments provider eWay.

Vix Investments Limited is a global Fintech investor specialising in the payments sector.

The placement will be made pursuant to s708 (11) of the Corporations Act 2001, to raise AU$4,000,000.

In addition to the Placement the Company will offer eligible shareholders the right to participate in a Share Purchase Plan (SPP) at the same price as the Placement.

The amount raised by the SPP will be capped at AU$1,000,000. The SPP will be subject to the Board’s discretion and scale back may apply to applications under the SPP.

“Vix’s experience in the payments sector has already highlighted several growth opportunities for Mint, both in Australia and various South East Asian countries, and we look forward to executing these over the next 24 months,” said Mint CEO Alex Teoh.

On Mint Payments new partnership with eWay, their agreement will see eWAY will licence Mint’s “card present” capability to distribute their own mobile point of sale (“mPOS”) solution.

eWAY’s 20,000+ merchants will now be able to accept the full spectrum of card payments, including Visa and MasterCard, as well as EFTPOS through popular payment methods such as Apple Pay, Contactless, Chip & Pin, and Magnetic Swipe.

Mint will derive ongoing revenues from monthly fees, merchant service fees, transaction fees and hardware fees.

The partnership will provide an omni-channel payments solution across markets in Australia, New Zealand, Singapore, Hong Kong and Malaysia.

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