Mint Payments Limited

Investment Highlights

Market leadership in travel payments: 20% share in the Australian and New Zealand travel agency vertical, with exclusive partnerships and deep software integrations driving defensibility.

Recurring, diversified revenue model: $25M annualised recurring revenue with monetisation across collection, transfer, and safeguarding of funds.

High-growth profile with global potential: 175% revenue CAGR (FY21–FY24) and a clear path to continued growth in ANZ and international markets, including the UK & Europe.

Attractive exit pathway: Strong M&A interest from global payment players and PE firms targeting verticalised payment providers in APAC and travel.

Company Overview

Market leader of payment solutions to the travel industry, with over 20% market share in Australia and New Zealand and preferred partnerships across the region.

Revenue generation capability across collection, transfer and security of funds, including unique products like Mint Protect and MintEFT.

Profitable & scalable growth into international markets, with upcoming expansion into the UK and established infrastructure in EU and Asia.

Deep integration into customer workflows, enabling high retention and the ability to monetise the full lifecycle of both B2B and C2B transactions.

Mint Payments is an Australian fintech company dedicated to simplifying payments for complex businesses. With innovative, end-to-end solutions, Mint empowers merchants to thrive in a fast-changing world by enabling them to accept payments from customers and make payments to suppliers both locally and internationally.

Specializing in the travel industry, which is often misunderstood and under-supported by traditional payment providers, Mint offers a seamless omnichannel payments suite. This suite helps businesses boost profits by expanding customer payment options, enhancing efficiency through workflow improvements and system integrations, and ensuring secure transactions and cash flows.

Mint's deep understanding of the travel industry's emphasis on customer experience, service, and hospitality allows it to provide merchants with the same high level of service and support that they offer to their customers. This focus and experience in the travel vertical enable Mint to offer a full-service solution for travel businesses, from the collection of payments to the payment of suppliers. This seamless movement of funds provides cost savings and process efficiencies, ensuring faster payments and improved working capital. As a result, Mint enjoys a greater share of wallet and higher customer retention.

Mint's initial target market in Australia and New Zealand represents a total addressable market of $38 billion (C2B and B2B) and over 11,000 travel agencies. The company's core strategic market of travel saw revenue increases of nearly 2x from FY23, growing from $6.1 million to $11.9 million. This growth was driven by travel TTV increasing from $1.1 billion in FY23 to $1.8 billion in FY24. Mint's annualized travel TTV is over 250% higher than pre-COVID levels, with annualized travel revenues over 700% higher than pre- COVID. Mint has secured preferred or exclusive partnerships with leading travel agent networks in Australia and New Zealand, including Helloworld and House of Travel, and is a preferred partner of industry bodies such as ATIA (Australian Travel Industry Association) and CATO (Council of Australian Tour Operators).

Following its acquisition of IPG Group in 2021, Mint has leveraged this knowledge and experience to scale its travel payment capabilities into the U.S. market, expanding upon existing acquiring capabilities for Australia, New Zealand, Hong Kong, and Singapore. This expansion has enabled core strategic merchants to scale their operations to international markets where they were previously underserved by domestic operators. An expansion to the UK market is planned for 2025, targeting a market opportunity of $154 billion (C2B and B2B).

Financials - FY24

$2.7B Transaction Value ($1.8B in travel – a 57% increase v FY23)
$18.3M in Recurring Revenues
96% Revenue growth in core travel vertical
2,208 Merchants
116% CAGR since FY21

Notable Investors

December 2024: $4 million capital raise completed, supported by a consortium of strategic investors to drive ANZ growth, Mint Protect launch, B2B acceleration and international market expansion.

Existing investment partners include: Perennial Partners, Kelly Partners + Investment Office, Smarter Capital, ICM and Roadhound Electronics

Products & Services

Mint Payments offers a comprehensive range of solutions that enable travel businesses to collect, send, and safeguard payments using a single, data-driven platform. Travel agents often face challenges accessing payment services from banks and traditional providers due to a perceived higher-risk interpretation of the industry, resulting in high fees and large collateral requirements. By working closely with agents and suppliers, whilst also facilitating the end-to-end flow of payments, Mint can use this unique insight to take a proactive approach to travel, turning risk management into growth opportunities, and innovative solutions tailored specifically for the travel industry (like Mint Protect).

Collect

Online Payments – Virtual Terminal

Mint provides customers with the payment methods they prefer, including card payments, bank transfers, instalments, and upcoming integrations for digital wallets and Buy Now Pay Later options.

Ensure payment security with customer authentication, and the ability to send secure payment links sent directly to customers via email or SMS.

Integration and connectivity with travel mid-office booking and accounting platforms enables agents to agents save time with auto-reconciliation and the ability to generate payment links directly through the mid-office system – freeing up their time to service more customers.

In-Store Payments – S700 EFTPOS Terminal

Mint’s physical terminal enables agents to provide customers with another low-cost payment option via EFTPOS, or the choice to pay in-store rather than online. With integration into Mint Virtual Terminal, agents gain a unified view of travel payments.

Mint also makes it easy for agents to access these in-store facilities - they are typically turned away by traditional payment providers or asked for collateral or guarantees that restrict their cash flow. Mint has no such requirements, enabling cost-effective access by bundling with Virtual Terminal.

Send

Domestic Supplier Payments - MintEFT

MintEFT is a closed-loop payments system that streamlines payments between travel agents and their suppliers. Integration into mid-office systems enables agent to schedule and reconcile payments from within customer bookings. Managers can then approve payments individually, or in bulk to ensure suppliers are paid correctly. This increase in efficiency and security by eliminates the need for frontline staff to access to business banking accounts and reduces finance team overheads.

International Supplier Payments – Virtual Cards

Mint Virtual Cards are a fast, secure & cost-effective option for agents to make payments to international suppliers. With Virtual Cards agents can:

Enhance Security and Fraud Prevention - with single-use cards with full control over limits and validity dates to increase security and reduce fraud.
Secure last-minute bookings with ease - no waiting for international wire transfer
Reduce International Payment Costs – Cards are generated by issuers in the destination country, eliminating international card fees

Secure

Mint Protect: Saving your time & bottom line

Under card-scheme chargeback rules, agents are treated as the service provider, even though they have little control over what happens on the supplier end (e.g. tour operator, airline, etc.) As a result, they are disproportionately impacted by chargebacks.

Mint Protect is a chargeback guarantee solution for travel agents to safeguard them against certain types of chargebacks related to:

Supplier failure/insolvency e.g. Air Vanuatu, Bonza, Rex
Supplier non-delivery e.g. poor performance, supplier cancellations, natural disasters, etc.
Fraud

By acting as a safety net designed to mitigate both small chargebacks and larger industry disruptions, Mint ensures business continuity and resilience for travel agents, while also freeing up their time by managing the chargeback dispute process on their behalf.

Unrivalled Rewards
Through Mint’s partnership with Qantas Business Rewards, merchants can earn Qantas Points on their everyday business transactions

Low rates, no hidden fees
Low transaction fees and tailored pricing for larger merchants

Fast settlement & easy reconciliation
Merchants have access to live payments dashboards for easy reconciliation and can access funds that are deposited as soon as the next business day

First Class Security
Mint adheres to the highest security requirements in the payments industry, including PCI DSS, and supports 3-D Secure 2 (3DS2) security standards.

Travel Solutions for Travel Professionals

Financial Services

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Investment Highlights

Company Overview

Financials - FY24

Notable Investors

Products & Services

Announcements

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