SOURCE: Mint Technology Corp.

June 08, 2005 14:26 ET

Mint and Affinity to Rollout 100,000 Prepaid MasterCard Cards

Affinity Branded Card to Include Loyalty Programs

TORONTO -- (MARKET WIRE) -- June 8, 2005 -- Mint Inc., a subsidiary of Mint Technology Corp. (TSX-V: MIT), and Affinity Merchant Solutions announced today that it has signed a distribution agreement whereby Affinity Merchant Solutions will distribute prepaid Mint MasterCard cards.

Under the terms of the agreement, Affinity Merchant Solutions will initially distribute 100,000 of Mint's prepaid MasterCard cards. Affinity Merchant Solutions will offer customized loyalty programs to their merchant network under an Affinity branded card. The Affinity Rewards card will include a loyalty program featuring numerous value-added services marketed through merchants with a focus on building a merchant coalition. Mint will provide Affinity Merchant Solutions with a prepaid MasterCard program equipped with complete services and features. By leveraging Mint's technology, Affinity Merchant Solutions will have the ability to offer a "white label" prepaid MasterCard program to their merchant partners. Horizon Plus Card Services Ltd., an affiliate of Peoples Trust, will be responsible for card issuance.

Under the Affinity Rewards program, Mint's prepaid and reloadable MasterCard card also functions as a traditional credit card and can be used for purchases at any of the millions of global locations where MasterCard is accepted. The card is available to all applicants, including credit challenged, unbankables and youth.

"The integration of a prepaid MasterCard as a loyalty vehicle is seeing widespread acceptance by our customers -- our goal is to have a million cards out in the first year," said Sue Knapper, President and CEO, Affinity Merchant Solutions. "Canadians as a whole are the largest group of consumers to embrace loyalty programs so enthusiastically and we are excited about the introduction of a new and innovative loyalty platform as a means of providing added value to both the merchant and consumer. This is only possible through our collaboration with Mint," she added.

"This agreement with Affinity marks our largest commitment to date, and, I believe, forecasts things to come," said Frank Maduri, President, Mint Inc. "A prepaid MasterCard card with customized loyalty programs offers endless benefits to merchants and consumers. It is the obvious next step for Mint, and we are excited to be an instrumental part of the Affinity card's progress."

To find out more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mintinc.com.

About Mint Technology Corp.

Mint is a leading payment solutions company that develops and markets new types of electronic payment applications in the financial payments sector. Through its payment platform Mint facilitates and issues prepaid MasterCard® cards, Municipal Parking cards and new wireless payment alternatives such as: MasterCard cards with PayPass™ functionality and cellphone based Parking.

The company is headquartered in Toronto, Ontario. To find out more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mintinc.com.

Investors can visit http://www.agoracom.com and participate in the official Mint Technology Corp investor relations site with an online forum for investor questions, commentary, discussion and feedback. Investors can also e-mail any questions directly, or request ongoing information by e-mail list, at MIT@Agoracom.com

About Affinity Merchant Solutions

Affinity Merchant Solutions is a premium POS and loyalty solutions provider servicing businesses across Canada. Affinity Merchant Solutions has redefined the POS traditional sales model by introducing added-value loyalty solutions to Canadian merchants.

The TSX Venture exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. This news release may include statements about future events and/or financial statements that are forward looking in nature, subject to risks and uncertainties.

Contact Information

  • For further information please contact:

    Dean Thrasher
    Executive Vice President, Corporate Development
    Mint Technology Corp.
    o: 416-581-0001
    Email: Email Contact

    Mich Ahern
    Manager, Public Relations
    Mint Inc.
    o: 416.581.0001, EXT. 216
    c: 416.454.8060
    Email: Email Contact