Mobile payment company Mint Wireless (ASX:MNW) has signed a partnership agreement for Europe with IT Providers.
Under the arrangement, the companies will develop a combined mobile payment solution, initially for Motorola mobile computing devices MC75 and MC70. It will use a Motorola chip and PIN 'snap on' solution.
The deal involves implementing Mint Wireless' Mint Managed Payment Service into IT Providers' Eirpoint Mobile retail product.
Mint Wireless will be eligible for both ongoing monthly license fees and transaction revenue.
With the agreement IT Providers, which has a presence in the UK and Ireland, will become Mint's Wireless' first distribution partner in Europe.
IT Providers managing director Niall Cannon said the company had entered the partnership as a result of market demand.
“We were regularly getting queries about card acceptance on mobile devices,” he said. “After investigating possible providers in the market, we decided to partner with Mint [based on] their expertise in the mobile payments area.”
Mint Wireless CEO Cameron Olsen said the agreement also builds on the company's recently-announced partnership agreement with Motorola.
“We believe that [the Motorola deal] will ideally place Mint in a strong position to convert a large percentage of Mobile POS and Payments opportunities in Australia and around the world,” he said.
IT Providers is also a Motorola partner, which was a factor behind the tie-up with Mint Wireless.
After the deal was announced on Monday, MNW shares climbed 11.11% to close at $0.030.