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Mint Payments Limited

Mint Payments Limited
Omnichannel Payments Ecosystem

A True Omnichannel Payments Ecosystem

Opportunity to invest in a profitable, fast-growing and scalable full-service (online and in-person) payment solutions provider providing a unique end-to-end payment product offering to industries underserviced by traditional banks.

Trading Commences 14th November 2022

Business Highlights

 

  • Targeting a growing market share of transaction processsing in the A$11B Australian SME travel agent market.
  • A strategic acquisition strategy of travel merchants through the Covid-19 period saw Mint continue to grow volumes despite low travel numbers, with MoM growth of 60% in transaction value through 2022.
  • Significant exclusive agreement with Helloworld Travel, and preferred agreements with Travellers Choice, CT Partners, the Express Travel Group, and more.

Mint is an Australian fintech specialising in a wide range of end-to-end payment solutions allowing businesses to accept payments from their customers and make payments to their suppliers locally and internationally.

Mint Payments believes every transaction that a business makes should add value for you and your customers. Whether that’s through products designed specifically for your industry, efficiency improvements to save your business time through custom integrations, or tailored pricing for larger merchants. With a strong focus on the travel industry, Mint Payments offers a seamless omnichannel payments suite that helps businesses unlock profits and enjoy more rewarding payments, online, in-store, in-app, and beyond.

Vertically focussed Technology

Mint has built tailored products for markets underserved by generalist merchant acquirers and/or technology providers. Mint has developed a strong reputation as a market leader in providing payment solutions to the travel industry.

End-to-End payments solution

Mint is building out a unique payment offering that will create a seamless, end-to-end, payment solution for merchants that provides cost savings and process efficiencies to ensure they get paid faster and benefit from improved working capital. The outcome for Mint is a greater share of the wallet and higher customer retention.

Primed for the Travel Recovery

Local SME travel agents process over $11B of the $20B+ in the travel industry (pre-COVID), with Mint processing ~5% of the Australian market (pre-COVID). Mint is a leader in providing payment solutions to SME travel agent payments in Australia. COVID-19 significantly impacted travel volumes, however, Mint continued to progress to ensure it is well-positioned to benefit more strongly from travel recovery.

With the continued acquisition of new travel merchants over the period, Mint is starting to see significant improvement in total transaction value (TTV) and revenues from our travel vertical with domestic borders and international borders open with month-on-month growth above 60% in 2022. Mint is currently processing over 50% higher volume than pre-COVID levels despite the industry still being in recovery.

Mint has significant exclusive arrangements with key industry players including Helloworld Travel, and preferred agreements with Travellers Choice, CT Partners, the Express Travel Group, and more.

Profitable and scalable growth opportunity

Mint is EBITDA positive and generating material growth in gross margin and TTV.

Mint’s cost-cutting measures to right-size the business at the beginning of the pandemic has resulted in a steady increase in EBITDA with the business better positioned than pre-COVID-19 for scalable growth. This has been accelerated by the acquisition of IPG in September 2021.

Company Overview

Established in 2007, Mint is an Australian fintech specialising in a wide range of end-to-end payment solutions allowing businesses to accept payments from their customers and make payments to their suppliers locally and internationally.

  • Mint offers merchant card-acquiring payment solutions, B2B bank transfers, digital payments and virtual card issuance through a single payments technology platform.
  • Mint delivers market-leading, vertically focused, industry payment solutions that reward our customers just for doing business.
  • Today Mint is focused on the travel, hospitality, retail and professional services sectors and is benefiting strongly from the rebound in travel.
  • Mint recently signed an exclusive partnership with the National Lotteries & Newsagents Association (NLNA); a network of over 450 newsagents.
  • In late 2021, Mint completed the acquisition of IPG Group on favourable terms. The acquisition gave Mint important diversification across sectors and geographies as well as ownership of relevant new technology.

Unrivaled rewards
Through Mint’s partnership with Qantas Business Rewards, merchants can earn Qantas Points on their everyday business transactions.

Low rates, no hidden fees
Low transaction fees and tailored pricing for larger merchants.

Fast settlement & easy reconciliation
Merchants have access to live payments dashboards for easy reconciliation and can access funds that are deposited as soon as the next business day.

First Class Security
Mint adheres to the highest security requirements in the payments industry, including PCI DSS, and supports 3-D Secure 2 (3DS2) security standards.

Easy setup, remote onboarding, and local support
With a Sydney-based support team, Mint can provide online training and troubleshooting so merchants can get set up quickly and have immediate access to support when required

Market leader of payment solutions to the travel industry

Implemented exit opportunities for investors

Strong growth with the rebound in travel and the successful acquisition of IPG

Profitable and scalable growth opportunity with the launch of new products and markets

Videos

Announcements

MintEFT to Launch in New Zealand

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Travellers Choice Appoints Mint as a Preferred Payments Provide

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National Lotteries Appoints Mint as Official Payments Partner

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Mint Payments Partners with Qantas Business Rewards

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Team

Terry Cuthbertson

Chairman

Alex Teoh

Chief Executive Officer

Bill Bartee

Non-Executive Director

Anne Weatherson

Non-Executive Director

Andrew Teoh

Executive Director

James Swan

Chief Financial Officer

Amy Meekin

Chief Risk Officer

Tobi Heskett

Chief Product Officer

Simon Siebert

Chief Technical Officer

Hugh Twomey

Chief Growth Officer

Sandra Willis

Chief Operating Officer

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