Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

November 01, 2011 10:00 ET

Mint Announces Signed Agreement With Sixth Money Exchange House in the UAE

TORONTO, ONTARIO--(Marketwire - Nov. 1, 2011) -

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Mint Technology Corp. ("Mint") (TSX VENTURE:MIT) announces today that the Company's subsidiary Mint Middle East LLC ("MME") has signed a Payroll Services Agreement with its sixth money exchange house, Al Ghurair International Exchange ("Al Ghurair") for approximately 20,000 payroll cards.

Al Ghurair is part of Abdullah Al Ghurair Group of companies, founder of the first shopping mall in the Middle East, Al Ghurair Center and one of the most successful Banks in the Middle East, Mashreq Bank.

Mint Executive Chairman, Chris Hogg, said today, "As our relationships in the MENA region continue to grow stronger, our cardholder base continues to expand. Mint is proving to be the payroll card provider of choice, not only for a large number of employers in the region, but now for a growing number of banks and exchange house who are looking to outsource the management of the payroll services they provide for their business clients."

Mint's President & CEO, Nabil Bader, also said today, "Our team has put a great deal of effort into cultivating relationships with exchange houses and banks throughout the UAE to expand our cardholder base. Mint Money products such as our soon to be launched Microfinance facility will benefit from this broader distribution channel."

ABOUT AL GHURAIR INTERNATIONAL EXCHANGE

Founded in Dubai in 1973, Al Ghurair International Exchange was among the first few in the money exchange market. A part of Abdullah Al Ghurair group of companies, founder of the first shopping mall in the middle east, and one of the most successful banks in the middle east, and numerous other businesses; Al Ghurair International Exchange continues to be an active member of the exchange house industry. Today, being one of the prominent exchange houses in the UAE, Al Ghurair International Exchange offers numerous services with competitive rates at premium locations in the country.

ABOUT MINT TECHNOLOGY CORP

Mint Technology Corp. is a pioneer in prepaid financial products and services and was Canada's first provider of prepaid credit card programs. Today, Mint through its subsidiary Mint Middle East LLC based in Dubai designs, builds and manages an end to end card based payments solution for employers and employees for the payment of wages and benefits. Mint has developed a secure, robust payments platform that provides an improved means to handle and manage these financial transactions. Mint also provides services for those clients looking to move towards 'next generation' payment methods that include chip, internet, data mining and mobile phone load and money remittance technologies.

Stock Symbol: MIT on the TSX Venture Exchange.

NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

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