Shares in Mint Wireless Limited (ASX:MNW) soared up to 20 per cent in morning trade after the mobile payment and transactions processing company provided an update. The company has announced eftpos certification, a strategic review to explore growth opportunities and the departure of its chief.
Mint’s Chip & PIN solution has been approved by the Australian Payments Clearing Association to process eftpos. The company says this is an important milestone which will make the Mint solution more attractive to small and micro merchants and medium and high transaction volume merchants.
Mint Wireless has also launched a strategic review of its growth plans through an independent committee and expected to be finished the review by the company’s annual general meeting in November.
The company’s CEO Robin Khuda will also step down and be replaced by interim CEO and current Chairman Alex Teoh until the strategic review is complete.
Mint Wireless reported a net loss of $6.36 million in the 2014 financial year.
