Australian fintech Mint Payments launches Mint Protect, a new layer of financial protection for the travel industry
Australian fintech Mint Payments has gone live with a new offering called Mint Protect designed to protect travel businesses from the financial risks associated with disputed credit card transactions. Previously announced in December 2024, Mint Protect uniquely addresses the challenges travel merchants face when accepting card payments.
Travel agents lose an average of $24,000 per annum to these disputed transactions known as chargebacks, which occur due to instances of fraud, supplier insolvency and service non-delivery.
Chargebacks represent a major operational burden and financial risk for travel businesses which Mint Protect now provides a safeguard for by absorbing the losses related to these claims – reinforcing Mint’s commitment to supporting the travel industry.
According to Mint Payments CEO Alex Teoh (pictured), Mint Protect is designed to address key pain points for travel agents, with the core objective of allowing them to concentrate on growing their businesses without the constant worry of unexpected financial setbacks.
“This product was designed with the travel industry’s unique challenges in mind,” said Teoh.
“Mint Protect will support travel agencies across Australia and New Zealand against credit card chargebacks, with an emphasis on supplier insolvencies, and fraud,” added Teoh. “We believe this solution will redefine how agents mitigate financial risks in a sector prone to unforeseen disruptions.”
Since its inception in 2007 as one of Australia’s first fintech’s, Mint Payments has built its reputation via its end-to-end offering built with the travel industry’s unique challenges in mind.
From its Sydney headquarters, Mint Payments services over 2000 customers primarily within the travel-sector across the Asia-Pacific region.
Its end-to-end payment solutions provides both direct to consumer and B2B options for travel companies and by consolidating payments through one provider that integrates into key travel booking and administrative systems, it streamlines business processes and eliminates a major pain point in that it reduces the requirement of staffing resources – a sector-wide issue since COVID.
For Alex, Mint Protect is the first of many exciting announcements for the travel fintech in 2025, as it builds on the growth of the previous year where it was featured on The Australian Financial Review’s Fast 100 list for 2024.
“After witnessing travel spending return to pre-pandemic levels last year, we see a large opportunity for Mint at a global level and we’re especially enthusiastic about our impending entry into the United Kingdom, where our unique end-to-end payments platform can significantly streamline payment processes for travel operators,” said Teoh.
