Retail and mobile computing distributor Sektor has signed a five-year distribution agreement with payment processing technology provider Mint Payments. The agreement will see Mint’s payment products integrated into new and existing point-of-sales (POS) solutions sold by Sektor. “Sektor is a great partner for Mint and the agreement gives us immediate access to a large SME market in Australia,” Mint Payments chief executive Alex Teoh said. “Sektor’s well-established network of vendors’ services millions of businesses in this space and it gives us the capacity to ramp up users of our payment solutions beyond current levels.” Mint said that this agreement will further ramp up user numbers, which currently sits at around 16,000 with a compound annual growth rate of around 106 percent. The agreement aims to open up Mint’s offerings further into the retail, hospitality and enterprise mobility markets in Australia. “Sektor is excited to have a full POS and payment offering for our integrator partners to take to market,” Sektor chief executive Rhys Warren said. “It’s relevant for them to now be involved in these solutions, it provides additional growth for these partners, and the Mint solution is delivering many new benefits for their merchant customers.” Sektor will acquire all of Mint’s existing hardware and manage the logistics of the payment solutions distribution, while also providing support for Mint’s marketing and promotion. Mint said it will explore new distribution partnerships in Asia as well.
Payment processing technology firm Mint Payments is set to expand its presence in Australia's retail and hospitality markets after signing a five-year agreement with Sektor, a distributor of PoS products, such as barcode scanners and PoS terminals. Sektor will acquire all Mint's hardware, manage its distribution and provide the firm with marketing and promotional support. The deal was announced today by CEO Paul McMahon. Mint currently has around 16,000 users and is eyeing distribution partnerships in the Asian sector.