Sydney, 25 November, 2008: Mint Wireless Limited (ASX: MNW) today announced it has signed a software license and transaction agreement with international beverage and confectionary group, Cadbury Schweppes. Under the terms of the thirty-six month agreement, Mint will provide the Mint Portable Payment System (PPS) - including software licenses, documentation, support and transaction services - to initially 100 of Cadbury Schweppes' beverage delivery drivers.
Mint has worked with Cadbury Schweppes and SAP mobility company Sky Technologies to deliver an integrated proof of delivery, credit card payment, invoice printing, cash and inventory reconciliation system via a hand-held mobile device, portable printer, and credit card reader. This world class mobility solution is fully integrated into Cadbury Schweppes' existing SAP Enterprise Resource Planning (ERP) system. Mint will provide Payment Card Industry (PCI/DSS) secure software that allows the beverage delivery drivers to process credit card payments in real time and integrate these transactions with Sky Technologies and Cadbury Schweppes' SAP system.
Cadbury Schweppes required an integrated proof of delivery and mobile payment solution to bring quantifiable benefits to their supply chain business. These benefits include increased process efficiencies, cost savings and improved cash flow. The Mint PPS met these needs and provided Cadbury Schweppes with the ability to receipt payments immediately and reduce the handling of cash and cheque payments.
Mint Wireless' CEO, Alex Teoh, said the agreement reflects Mint's capability to deliver end-to-end software and mobility solutions for large customers with complex requirements and disparate operations.
"The agreement with Cadbury Schweppes is a coup for Mint, and is our largest single contract to date. We have been working with Cadbury Schweppes for over twelve months as they worked through a rigorous and exhaustive selection process to identify the most suitable market leading solution that satisfies their business requirements and regulatory requirements, "Mr. Teoh said.
"Cadbury Schweppes' has taken up an initial 100 licenses for its fleet, meaning that Mint will benefit from the expected high transaction volume through the recurring and ongoing transaction fees charged based on usage; as well as ongoing monthly software license fees.
"The FMCG market presents significant opportunities for Mint, given the nature of the supply and delivery chain, and we are undertaking sales and marketing activities to gain visibility and capture further market share.
"Mint has continued to strengthen its capability to deliver for larger organisations that use either industry-specific or proprietary software and systems. We have worked with Cadbury Schweppes to provide a mobile payment solution that forms part of an integrated solution with the world's largest ERP software vendor, SAP. This is an exciting milestone for Mint, as it opens up opportunities in this market segment," Mr. Teoh added.
Mr. Teoh said that for many companies, uncertainty in financial markets has led to increased scrutiny of their payments and invoicing systems.
"Payment receipt is very important given current market conditions, and we are seeing greater numbers of companies look to implement innovative measures to counter bad debt and payment lag,"
"Cadbury Schweppes has taken a bold and forward thinking approach to address a very real payment and supply chain issue. They are leaders in their sector and have implemented an innovative, market-leading solution that has a proven return on investment through immediate cost savings with a positive cash flow impact," Mr. Teoh concluded.
About Mint Wireless Limited:
Mint Wireless Limited (www.mnw.com.au) is a technology company focused on providing mobile payment solutions and the development and management of portable technology products and services. Mint's portable payment and invoicing system is a software application for Microsoft Windows or Blackberry smart phones and includes a pocket-sized printer and card reader. Anyone processing payments in situ can accept credit cards and other payment types, process credit card transactions, print an invoice on the spot and download all transactions into their accounting and ERP systems. Mint Wireless Limited also distributes a range of portable technology products, flash memory products and consumer electronic components to many of Australia and New Zealand's largest retailers through its subsidiary Mint Trading Pty Limited.
For more information contact:
Alex Teoh
Chief Executive Officer
P: 02 8752 7888
E: Alex.Teoh@mint-wireless.com