SOURCE: Mint Technology Corp.

October 26, 2006 08:30 ET

Prepaid Plays Pivotal Role in Trial of New MasterCard® PayPass™ Wristband

Mint's Prepaid Technology Allowed 5,000 Fans to Use MasterCard PayPass Wristbands to Purchase Concessions at Giants Stadium

TORONTO -- (MARKET WIRE) -- October 26, 2006 -- Mint Inc., a subsidiary of Mint Technology Corp. (TSX-V: MIT), announced today that the Company played a key role in the successful MasterCard Worldwide trial of a new contactless payment device. A MasterCard® PayPass™ enabled wristband was given to the first 5,000 fans entering Giants Stadium for the New York Giants-Indianapolis Colts football game on Sunday, September 10, compliments of MasterCard. The wristbands were pre-loaded with $25 and were used at concession stands throughout the stadium where PayPass is accepted.

The trial was designed to test a new contactless device enabled by prepaid accounts from Mint in venues and at special events such as professional football games and Major League Baseball (MLB) games.

PayPass™ offers consumers a convenient alternative to cash that allows for small ticket purchases to be completed quickly, securely and easily. Consumers no longer need to fumble for cash and coins, swipe a card, or sign a receipt for any PayPass™ purchase under $25 (purchases over $25 will require a signature and a receipt). Consumers simply tap their PayPass™ enabled card or device on the PayPass™ reader at participating locations and they are on their way.

A non-reloadable prepaid account can be set up in advance, tied to any contactless device and, unlike traditional card accounts where personal information is necessary, the contactless devices are loaded with preset funds that can then be accessed immediately.

"This is the second trial in the United States we have been involved in and in the past year we have also lent our prepaid capabilities to assist MasterCard and their PayPass™ merchants throughout the United States in the rollout of the technology," said Frank Maduri, president and CEO, Mint Inc. "The ease of prepaid and our flexibility and expertise has allowed MasterCard to depend on us to provide them with the means to trial their new contactless technology."

About MasterCard Worldwide

MasterCard Worldwide advances global commerce by providing a critical economic link between financial institutions, businesses, cardholders and merchants worldwide. As a franchisor, processor and advisor, MasterCard develops and markets payment solutions, processes close to 14 billion payments each year, and provides industry-leading analysis and consulting services to financial institution customers and merchants. Through its family of brands, including MasterCard®, Maestro® and Cirrus®, MasterCard Worldwide serves consumers and businesses in more than 210 countries and territories. For more information go to www.mastercardworldwide.com.

About Mint Inc.

Mint Inc., a subsidiary of Mint Technology Corp., is a leading payment solutions company. Through its payment platform and prepaid credit card programs, Mint is the first in Canada to facilitate and deploy prepaid MasterCard® cards with unique features such as co-branding and loyalty programs, and new wireless payment alternatives such as MasterCard cards with PayPass™ functionality. The parent company Mint Technology Corp. is headquartered in Toronto, Ontario. To find out more about Mint Technology Corp. (TSX-V: MIT), visit our website at www.mint-technology.ca.

Contact Information

  • For further information please contact:

    Mich Ahern
    Public Relations
    Mint Technology Corp.
    c:416.454.8060
    o:416.581.0001, ext. 216
    Email Contact