Small, listed payments processing company, Mint Payments has joined a growing list of non-bank technology companies that are stepping between small and medium businesses and their banks, with the addition of an online payments gateway to its card-based applications to service the "customer-not-present" sector of the payments market.
Bjorn Behrendt chief marketing officer at Mint Payments, said that a few merchants are already using his company's product.
He added that Mint identified the need to have a method of payment on the phone or card not present transactions online as one of the services that their existing customer base require.
The firm can now process payments across multiple payment types and channels, including:
- face-to-face (e.g. EFTPOS, contactless and Chip and PIN);
- eCommerce and bill payments; and
- over-the-phone payments processing or system-initiated payments (eg, tokenisation and batch payments).
The Mint product comes with an integrated credit card merchant facility or a bank account direct debit facility - provided through Mint, while piggybacking on the card companies. Own anti-fraud processes.
Behrendt also claimed that this system "is one of the first in the country" to allow merchants to see a breakup of exactly how payments were made through the various channels, be they online or over the phone for instance, and which cards were used.
He was reluctant to provide any up-to-date numbers on the amount of business Mint has been doing with its new products.