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MINT ANNOUNCES THE LAUNCH OF GIFT CARD PROGRAM IN UAE

The Mint Corp.'s majority-owned subsidiary, Mint Middle East LLC, has launched a UnionPay International branded gift card program in the United Arab Emirates (UAE) and has also delivered the first batch of its gift cards.

The gift card is a UnionPay-branded general purpose non-reloadable prepaid card which can be used in all locations accepting UnionPay-branded cards, targeted initially at corporate clients and exchange houses in the UAE market. Mint is also planning to launch a MasterCard branded gift card in the coming months.

In the next phase, the card will be marketed and distributed through retail channels and on-line to individuals, including as digital e-gift cards once the company receives the necessary regulatory approvals.

The global gift card market is witnessing rapid growth and is projected to double its size from 2017 level to reach $698-billion (U.S.) by 2024 according to a study by Persistence Market Research.

"UAE gift card market size is estimated to reach $1.5-billion (U.S.) by 2020. There is an increasing demand for gift cards in the corporate sector across the world. Companies are offering incentives to employees by giving gift cards to recognize employees' contributions and achievements. Mint's gift card program is another product line from our globally certified payments platform and helps us add new revenue opportunities and broaden and deepen our relationship with corporate clients and exchange house partners in UAE," states Vishy Karamadam, chief executive officer of The Mint.

About The Mint Corp.

Mint, through its majority-owned subsidiaries, is a globally certified payments company headquartered in Toronto, Canada, with its primary business in Dubai, United Arab Emirates (UAE). Mint is approved by the UAE Central Bank, MasterCard and UnionPay as a third party payment processor. Mint processes over $1-billion (U.S.) in payroll annually for hundreds of corporate clients and financial institutions, and the Mint community consists of approximately 400,000 cardholders. Mint's clients include some of the leading blue-chip companies in the UAE.

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