Mint Wireless to launch card reader in Australia

Mobile payments provider Mint Wireless is in talks with Australian banks in a bid to launch a smartphone card reader down-under.

Mobile payments provider Mint Wireless is in talks with Australian banks in a bid to launch a smartphone card reader down-under.

The company is looking to grow its share of the Australian market after gaining accreditation for a bank and card scheme with Aussie-based Bendigo Bank. Its main product, a smartphone accessory that plugs in and accepts card payments, was launched by the Bank of New Zealand last month.

CEO Alex Teoh said: "Australia is probably in my opinion one of the toughest payment markets in the world to crack into.

"That’s one of the reasons why Square hasn’t come here."

Teoh said Mint Wireless was hoping to mimic the success US start-up Square had with a similar accessory.

Square’s growth has been limited by the fact that its card reader cannot accept chip and pin card transactions, the preferred card transaction in Europe.

Mint Wireless’s card reader can already accept chip and pin, making it attractive to the Australian market, where chip and pin will be mandated from 2015.

 

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