Global Payments & Mint Payments sign strategic partnership agreement
Mint Payments Limited (ASX: MNW) (Mint or the Company) and Global Payments Asia Pacific Limited, a subsidiary company of Global Payments Inc. (NYSE: GPN), a leading worldwide provider of payment technology and merchant acquiring services, today announced a partnership agreement that will equip Mint and its licensed distribution partners with the ability to provide the Company’s integrated payment technology solutions with Global Payments as the acquirer, in the territories of Malaysia and Singapore with additional territories to follow. As part of the Agreement, Global Payments will also refer its merchants to adopt Mint’s range of integrated payment solutions in these two markets. In the Asia Pacific region, Global Payments Asia Pacific has presence in 12 countries providing a wide range of payment solutions to over 110,000 merchants, processing over 25 billion dollars.
Through this partnership, Mint Payments will harness Global Payments’ existing acquiring infrastructure, which will include acquiring for both card present (In-Person) and card not present (Online / Mobile) transactions, quick onboarding experience and settlement services. This partnership will strengthen Mint’s payments offering throughout the South East Asian region, and build on Mint’s existing relationships by providing greater flexibility and regional coverage to its licensed distribution partners, including ABSS’s 300,000+ merchants spread throughout 11 countries in South East Asia.
Under this Agreement, Mint Payments and Global Payments will share transactional and merchant acquiring service fees linked to Mint’s integrated payment solution.
Mint’s Executive Director and Head of International Business, Andrew Teoh said: “Following on from our partnership with ABSS (formerly MYOB South Asia), we are delighted to announce this new partnership with Global Payments, particularly as it facilitates the Company’s entry into a high growth, dynamic and developing Malaysian market, which is ABSS’ largest and fastest growing market.”
“Malaysia is a key market for us as we see this as another example where regulatory change can create significant opportunities for proven, established payment companies like Mint. The Reserve Bank in Malaysia has established payment card reforms seeking to promote electronic and card acceptance across the country by targeting to grow its card acceptance base to 800,000 terminals by 2020.
This latest partnership agreement allows us to take advantage of these new reforms and we are confident that this will help drive our growth in the South East Asian region.”
Global Payments’ President, Asia-Pacific, Konrad Chan said,“This partnership with Mint is an example of how we collaborate with our network of partners to create values for merchants who are seeking innovative as well as efficient ways to accept payments. We look forward to entering into such acquiring partnership with Mint, in view to extend the coverage of our omnichannel payment solutions to merchants in Malaysia and Singapore.”