TORONTO, March 15, 2018 (GLOBE NEWSWIRE) -- The Mint Corporation (TSX-V:MIT) ("Mint" or the "Company") announces, due to strong interest from prospective partners in both emerging and mature markets, that it has made a strategic decision to take its best of breed, payments platform global.

The Company has invested over $50 million in the last five years and has built a unique, sought-after, payments platform that is now certified to issue, and be a third-party processor for, Mastercard and UnionPay International-branded payment cards.

The future of payments is through the mobile phone. Countries in the emerging markets are driving the move from cash to cashless transactions and rapid adoption will be achieved through the mobile phone and companion mobile wallets. Mint is facilitating this transition.

The Payments Industry operates within strict global standards, regulation, and certifications and access to that industry as a card issuer and transaction processor is time consuming and costly. In addition, the major card networks such as Mastercard and UnionPay are governed by global rules for engagement which present significant barriers to entry.

Mint today is a significant player with scale, given its status as an independent third-party processor, large 400,000+ customer base, over USD $1 billion annual processing volume, an extensive ATM network, and a mobile wallet with multi-faceted uses.

“It is flattering that we are being approached by global brands and partners to take Mint’s versatile payments platform into new countries. The opportunity in the UAE on its own is considerable but, due to the strong interest, we have to go global. We are looking at fast-growing emerging countries such as India and Indonesia, as well as more mature markets in North America, for future expansion,” stated Vishy Karamadam, CEO of Mint.

About The Mint Corporation

The Mint Corporation (TSX-V:MIT), through its majority-owned subsidiaries (the “Mint Group”), is a globally certified payments company headquartered in Toronto, Canada with its primary business in Dubai, United Arab Emirates (UAE). The Mint Group is approved by the UAE Central Bank, Mastercard and UnionPay as a third-party payment processor. Mint processes over US$1 billion 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.

Mint provides employers with automated payroll services and a proprietary Automated Teller Machine (ATM) network for their unbanked employees. Mint community members are issued a personalized, globally accepted, Mastercard or UnionPay card and a linked mobile wallet, where their salaries are deposited. This mobile wallet effectively becomes the employee’s bank account.

Mint intends to offer a comprehensive suite of services through the mobile wallet, including remittance, overdraft, loans, mobile phone top-up, rewards, and insurance, among others. The mobile wallet enables unbanked employees to purchase services and spend through the wallet.

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.

The Mint Corporation
Kym No
Interim CFO
647-252-1664
www.themintcorp.com