Ann: Market Update, page-5

Agree Aussie, excellent work by the Mint team in securing this deal with BNZ which will give them exposure to a higher volume and value merchant base in NZ. Mint's has successfully partnered with some high profile organisations and this is testament to the value of their payments platform.

Its also refreshing to see their renewed customer focus on adding value to the customer experience, compared to a typical payments player charging merchant fees traditionally viewed by customers as a 'tax' on sales.

It's also great to hear those words again on a cashflow positive FY19 in this market update. Their direct to market model and their revamped focus on the higher value merchant segment will be where their growth in recurring revenue will come from, and I guess that the 'material contract' with BNZ will be a nice help as well.

I subscribe to their newsletter as well and whilst most of this email update received today was included in the market announcement , I thought the last sentence was quite interesting and a sign of what's around the corner....

I attach an excerpt below

"The truth is, the category is letting merchants down with uninspired offerings. When we reflected on the findings of our research, we realised we needed to add value rather than just process it, and create a more rewarding payment experience for merchants.

This rebrand is really a symbol of the deeper change we’ve undertaken in at Mint, and over the coming months we’ve got several other exciting announcements we believe will reset the way people think about payments.

”The new direction and brand is underpinned by senior hires such as Chief Growth Officer, Adam Jones, the abolishment of monthly fees on Mint’s mobile eftpos terminals for customers transacting above AU$2,000 per month, and new website with improved usability and more seamless onboarding.

The company says these changes are just the beginning of a wider strategic move, including an unprecedented partnership for the payments category that will be announced in the coming weeks." -ENDS-

Maybe this was the catalyst for the nice uplift on Friday which may possibly continue next week?