Bank of New Zealand (BNZ), in partnership with Australia’s Mint Payments, enhanced its payments product PayClip, allowing New Zealand business owners to accept the full range of card payments.
The ranges of card payments include Visa, MasterCard and EFTPOS through methods such as NFC Contactless, Chip and Pin, and Magnetic Swipe.
According to BNZ, 125 million electronic card transactions were processed in New Zealand during January 2015, with a total of NZ$6.2bn spent across all transactions. It is expected that smartphone penetration in the country will rise to 90% by 2018.
Under the partnership, Mint will continue to provide its fully branded iOS and Android mPOS apps and the new M10 Bluetooth card reader to BNZ.
Featuring Plug & Play technologies, the new PayClip card reader will also support new technologies such as NFC and Apple Pay.
Additionally, Mint Payment has signed an aggregation agreement with EFTPOS systems provider Paymark to boost its presence in the New Zealand payments space.
Mint Payments CEO Alex Teoh said: "We look forward to taking our partnership with BNZ from strength to strength and collaborating with Paymark to further deliver leading omni-channel payment solutions in New Zealand."
BNZ small business head Harry Ferreira said: "Our customers tell us that PayClip has made a huge difference to their cash flow and made it easier to do business, but most importantly it has enabled them to increase their profit. PayClip enables businesses to reach new customers and therefore sell more products and services."