TORONTO, ONTARIO--(Marketwire -08/07/12)- NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE U.S.
Mint Technology Corp. (MIT.V) ("Mint or the "Company") announced that it has issued and is generating revenue from its first client in Qatar for 1,819 payroll cards. These cards were issued on Mint's closed loop platform and employees have access to funds through Mint owned and operated ATM machines. Mint is in process to broaden its platform capabilities through its transaction processing company, Mint Global Processing LLC, which will also include open loop and MasterCard and/or Visa products later this year.
Mint will now execute on its target for new contracts in Qatar over the next two financial quarters and report results as they are delivered.
Nabil Bader, President and CEO, said today, "Though this is a small contract for Mint, we are thrilled to have put the necessary pieces into place to execute on this part of Mint's business plan by expanding into Qatar. As we continue to prove out the system in Qatar, we will add on additional contracts from not only our existing United Arab Emirates clients who have labor contracts in Qatar, but also new clients who are a part of the rapid growth of this country's infrastructure expansion."
ABOUT MINT TECHNOLOGY CORP
Established in 2004, Mint is the world's first vertically integrated prepaid card and payroll services provider with its own ATM network, payment processing platform and proprietary branded card product including microcredit, mobile top up and money remittance services delivered seamlessly to workers throughout the Middle East and North Africa region. Mint operates through 4 subsidiaries, Mint Middle East, a payroll card services provider, Mint Capital (for Mint Money group of products), a financial products distribution company, Mint Global Processing, a fully integrated third party processing platform and, Mint Electronic Payment Services trading as ePAY, a mobile airtime POS and Merchant network solutions business. Mint has 108 employees in 8 offices in UAE (3), Qatar, Jordan, Egypt, USA and Canada where Mint is listed on the Toronto Stock Exchange (MIT.V).
For additional information please visit www.mintinc.com.
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