Mint Wireless and accounting software provider MYOB have signed a five year partnership agreement that will see MYOB distribute, license and integrate Mint Wireless’ mobile payment solutions with MYOB’s software products.
According to the company, "Mint Wireless will receive an annual license fee from MYOB and a proportion of the monthly and transaction fees from the users of the mobile payment solution incorporated into MYOB’s software products."
This five year exclusive agreement will coverthe Australian and New Zealand markets.
Mint Wireless has two businesses. The first is a micro-transactions business which includes mobile money transfer or micro-remittance solutions targeting the under banked consumers in emerging markets globally; and the second is a mobile payments business that enables corporate enterprises to accept credit and debit card payments across mobile phone platform.
The company listed on the ASX and its stock has been on something of a bull run lately, at one stage doubling in value between June and August this year.
Today's announcement triggered frenzied buying of the stock, which rose by as much as 30 percent to $0.053 on volumes nudging 10 million. By 1:20 it had fallen back down to $0.042.