Our rating(3.5/5)
A basic, but sufficient, service for Australian, small mobile businesses.
Mint mPOS is a mobile card reader solution that works with a payment app on your phone or tablet. Based in Australia, Mint accepts credit, debit and eftpos cards, with options to sell online as well.
  • Highs: Competitive transaction rates. Eftpos acceptance. Next-day settlement.
  • Lows: Annual contract required. Early termination fee. Minimum monthly sales volume required.
  • Choose if: Your card sales amount to over $2,000 every month and want an Australia-based card reader company.

What is Mint Payments?

Mint Payments Limited is a publicly-listed Australian company, founded in 2007, that specialises in payment processing solutions.

Accepted cards

EFTPOSVisaMastercardAmerican ExpressContactless

The company offers a variety of payment services on a contractual basis, including an Ingenico Move 5000 terminal, app-based card reader (Mint mPOS), virtual terminal for over-the-phone payments, and online payments.

We will focus on Mint mPOS, which is a mobile payment solution aimed at small businesses. The card reader accepts contactless, swipe and chip-and-PIN credit and debit cards including eftpos.

Which EFTPOS machines got 4-4.5 stars? See the top 4 in Australia

How it works

Mint mPOS essentially turns your smartphone or tablet into an EFTPOS machine. The card reader is a standard Miura M10 model (same as PayPal Here’s) and connects to your mobile device via Bluetooth, meaning that no special wires or cables are required.

The EFTPOS reader itself will fit in your pocket, making it ideal for on-the-go merchants who need to stay mobile. The Mint mPOS app can be downloaded on an Android phone or tablet, iPhone or iPad. A word of warning: the app hasn’t been updated since October 2018 at the time of writing – a sign that Mint is not actively fixing bugs.

Payments processed by the Mint mPOS are settled into your Australian bank account the following day, following strict PCI-DSS standards to maintain a high level of security.

Mint contactless card reader payment

Mint Payments acts as a merchant service provider, letting the acquiring bank First Data handle your merchant account bound by a 12-month contract.

What are the fees and ongoing costs?

Mint’s EFTPOS reader is free and there are no initial setup fee. Furthermore, there is no fee for using the Mint mPOS app.

However, you enter into a contract of 12 months with First Data, which has a monthly fee of $10 for the months you make less than $2,000 in card transactions. When you make more than that, you only pay a 1.69% transaction fee for Visa and Mastercard payments and $0.30 per eftpos transaction.

As to American Express transactions, Mint does not disclose openly whether the fee or contract is different for those payments. Since First Data does not offer merchant accounts for Amex, we assume you will need to enter a separate contract for this, with a higher transaction rate than mentioned above.

Contractual lock-in and terms

You have to dig deep in the contractual terms to spot the possible extra fees, which is not great for a company that tries to appear transparent.

Importantly, the contract can only be cancelled with at least 60 days’ warning prior to the end of the current term. If you want to end the contract early, you pay an early termination fee equivalent to 80% of the average fees you would have paid if you kept the contract for the remaining months of the term.

The trend for mobile card readers has long been moving towards no contact lock-in, so even though Mint offers a 4-weeks’ money-back guarantee, the service cancellation fee is a stretch.

There is a 12-month warranty included with the reader which is reassuring, but business owners should note that this is subject to various terms and conditions outlined in the contract. Indeed, the Mint Payments website reminds potential merchants that the card reader is not waterproof and “probably shouldn’t be used as a replacement hammer.”

Merchant Portal

Mint mPOS offers a Merchant Portal that forms a core feature of its service. Through the mobile app or online portal, merchants can receive real-time updates as payments from customers are being processed – though pretty much all newer card readers offer this as well.

Mint mPOS app screens

You can view a transaction history, and accept or refund payments in the Mint mPOS app.

In addition, you can use the mPOS Merchant Portal for a wide variety of operations that will help to improve the efficiency of your daily business operations. Relevant features include the ability to add reference numbers to transactions and send receipts to customers via email or text message.

What’s more, you can search through transactions and issue refunds with ease. Overall, it’s a pretty nifty tool, but not nearly as feature-rich as Square’s free Point of Sale app.

Mint should be simple enough for most business users to get the hang of the Merchant Portal in a short space of time.

Our verdict

Mint mPOS is a respectable card reader with a competitive transaction rate – if you make above $2,000 monthly. Otherwise, it becomes a service you’re paying a monthly fee for that could’ve been avoided by opting for a no-contract pay-as-you-go solution.

The payment app is not the most feature-rich compared to PayPal Here or Square, but it will do for simple payments on the go. It’s a little concerning the app hasn’t been updated for over a year – usually, that means the company is not investing much in the product.

Mint’s website looks attractive and modern, but lacks transparency around contractual commitment and hidden fees. That’s a disappointment, and something you should be inquiring about during sign-up before you lock yourself into a 12-month solution that may not be right for your business.

Name of Reviewed Item: Mint mPOS Rating Value: 3.5 Image: https://www.mobiletransaction.org/wp-content/uploads/2015/08/mint-payments-mpos.jpg Review Author:Review Date: