Mint wireless have launched an app development platform for iOS and Android to take advantage of burgeoning mobile Point-of-Sale transactions.
'Mintegrate' targets developers building mobile applications for small and medium enterprises who are increasingly shifting toward mPOS services to collect payments using tablets and smartphones.
According to the Australian Bureau of Statistics there are more than two million small to medium enterprises representing almost 96 per cent of all Australian businesses, and Mint aims to grow its mPOS market share through SME's.
The solution comprises of free software developer kits and applications programming interfaces to support iOS and Android mPOS transactions.
It was developed to support the growing demand for mobile payment solutions and the need for it to support developers who want to easily integrate this within apps.
Mint Wireless chief executive, Alex Teoh, said it offered Australia's first simple, yet powerful mobile payment integration for developers.
"Having developed mobile payment solutions for the market since 2007, Mint Wireless has built on our experience and heritage to deliver a bank — grade and industry compliant solution that will exceed the expectations of developers, their customers and end users," he said.
"Through Mintegrate, we have simplified the pricing structure for any mobile or retail business that accepts card payments.
"We have provided recurring revenue stream to developers who are looking to integrate our solution in their clients' mobile applications."
Features include pricing packages based on transaction volume, with no set up fee and a standard transaction transaction fee across all cards, and an affordable card reader that works on iOS and android platforms.
The company will provide developers with a 10 per cent commission on each transaction initiated through the application.
One of Mintegrate's first adopters, ViViPOS developed a POS system for the hospitality sector.
ViVipos will soon be incorporated into Mobile ViViPOS' functionality to enable customers to make card payment at the dining table.
Mint Wireless estimates the value of mPOS transactions in Australia will rise to US$7 billion in 2014, with the potential to grow to US$20 billio nin 2016.