Mr. Rishi Tibriwal reports

MINT PROVIDES CORPORATE UPDATE

The Mint Corp. has provided a business update.

Mint Middle East LLC (MME), a company 51 per cent owned by Mint and Mint Gateway for Electronic Payment Services LLC, a company 51 per cent beneficially owned by Mint (together referred to as Mint Group), had a successful 2016 that achieved several operational milestones, including achieving Payment Card Industry Data Security Standard (PCI DSS) certification and a partnership agreement with UnionPay International to issue UnionPay cards in association with Mint Group's partner banks. UnionPay International, a provider of payment services claiming the world's largest cardholder base, has also certified Mint as a third party service provider (TPSP). Mint Group is the first UnionPay-certified payment processor and issuer for UnionPay chip cards in the GCC countries (a political and economic alliance called the Gulf Cooperation Council (GCC), made up of United Arab Emirates, Saudi Arabia, Oman, Kuwait, Qatar and Bahrain).

Mint Group also won a significant customer account in UAE and did a rapid deployment of UnionPay chip cards to this corporate customer utilizing its proprietary payment platform in the fourth quarter of this year. This successful large-scale deployment is further evidence of the leadership and capability of its team to scale up its platform in the coming years. Its new integrated certified payments platform can bring significant operational improvements for its customers and partners to manage their payroll and other card programs with a more robust self-serve on-line management reporting and card management capability. Mint Group currently has approximately 400,000 cardholder accounts.

During the year, Mint Group also upgraded and enhanced its proprietary ABMs to meet evolving industry standards. Mint Group continues to enhance the operational team and strengthen the risk and compliance functions to fulfill its mission critical role as a certified third party payment processor.

Mint Group now has a fully integrated, globally certified payments platform that includes issuing and processing capabilities certified with major card member association networks and UAE Central Bank. Mint Group has on-line, mobile, point-of-sale and kiosk platforms integrated with its payment platform and its own proprietary ABM network. It believes that such an integrated payments platform is a unique competitive advantage not only in UAE and the Middle East region, but also globally. This platform is positioning Mint Group to offer an expanded range of payment-related services to a more diverse range of clients than before.

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