Mint Technology Corp.
TSX VENTURE : MIT

Mint Technology Corp.

October 26, 2011 15:48 ET

Mint Signs Agreement for Payroll Services and BIN Sponsorship with Ajman Bank, UAE

TORONTO, ONTARIO--(Marketwire - Oct. 26, 2011) -

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Mint Technology Corp. ("Mint or the "Company") (TSX VENTURE:MIT) announces today that the Company has signed a Payroll Services and BIN Sponsorship Agreement with Ajman Bank. Ajman Bank, one of the upcoming UAE regional banks, will also introduce Mint Global Processing LLC ("MGP") to the UAE Central Bank as a third party processor ("TPP").

Mint announced on October 17, 2011, the establishment of MGP as an incorporated company with Mint and Carta Worldwide, a leading Canadian transaction processing company, as its shareholders.

Mint Executive Chairman, Chris Hogg, said today, "Mint's business growth strategy includes extending our fast growing prepaid card management business into transaction processing and we chose Ajman Bank as our Banking Partner to be the sponsor for this phase of Mint's growth for their forward looking approach towards our plans to build the next generation transaction processing platform announced last week."

Mint CEO, Nabil Bader, said today, "We partnered with Ajman Bank, the first Shariah based Islamic Bank of Ajman, to introduce Mint Global Processing LLC to the UAE Central Bank and MasterCard and also to provide a wide range of services to Mint Middle East, our cardholders and corporate customers. These wholesale services will include, Money Remittance, Micro Finance and Mobile Top-up."

Forward-Looking Statements

Certain statements in this news release constitute "forward-looking" statements. These statements relate to future events or our future performance. Forward-looking statements include the expected business development successes expected from the agreement referred to. All such statements involve substantial known and unknown risks, uncertainties and other factors which may cause the actual results to vary from those expressed or implied by such forward-looking statements. Forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date of this news release. Forward-looking statements involve significant risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether or not such results will be achieved. Actual results could differ materially from those anticipated due to a number of factors and risks. Although the forward-looking statements contained in this news release are based upon what management of Mint believes are reasonable assumptions on the date of this news release, Mint cannot assure investors that actual results will be consistent with these forward-looking statements. The forward-looking statements contained in this press release are made as of the date hereof and Mint disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

ABOUT AJMAN BANK PJSC

Ajman Bank PJSC is the first Shariah based Islamic bank incorporated in 2008 and headquartered in the Emirate of Ajman and it intends to become one of the favourite financial services providers across the UAE. The bank started with a paid up capital of AED 1 billion and is supported by the Government of Ajman which owns 25% stake in the Bank. The bank is listed on the Dubai Financial Market since Feb 08.

The bank aims to be the one-stop financial shop for its customers and offers a wide range of product offerings. Ajman Bank has its branch network throughout all the key emirates, with an extensive network of ATM's. All services are directly integrated with the Bank's complete range of electronic solutions such as Internet Banking, SMS Banking and Phone Banking that are designed to cater with best of services.

Ajman Bank's strategy of offering a comprehensive range of Shariah banking products and services is also intended to support the economic development of the Emirate of Ajman and the UAE, through committing to the highest standards of professionalism, compliance and flexibility.

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.

For additional information please visit www.mintinc.com.

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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