Singapore-based payments services group NETS has collaborated with Australian Mint Payments, a processing technology company, to launch the Unified mobile point-of-sale (mPOS) solution.

The new Mint white-labelled payment service is set allow Singaporean merchants to accept contact as well as contactless credit and debit card transactions on a single NETS terminal.

It is expected to be useful for businesses using mobile devices and tablets.

Mint said the combination of the new solution with merchant’s existing POS system can fetch better efficiencies and cost savings in automation and reconciliation.

NETS CEO Jeffrey Goh said: “As NETS continues to drive cashless payments in Singapore, we recognise the need to develop unique payment solutions that address the needs of different merchant types.

“With the NETS mPOS solution provided by Mint Payments, we will be able to help small business that are moving away from traditional POS systems to tablet based POS systems that can accept payments in-person and on-the-go.”

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Mint Payments managing director of Asia, Andrew Teoh said: “We look forward to working with NETS and our other channel partners in Singapore to scale the Unified POS solution across the thousands of businesses in Singapore.”

The partnership is in line with Mint’s strategy to bolster electronic payments in Asian markets.