TORONTO, Dec. 20, 2017 — Mint Corporation (TSX-V:MIT) is a globally certified payments company focused on offering financial services to the unbanked salaried workers in Dubai, a global financial centre in the United Arab Emirates (UAE).
The addition of blockchain is a valuable extension to Mint’s current product offerings for corporate clients and their employees. Mint already provides payroll services to approximately 400,000 expatriate workers in the UAE and management believes that this business will continue to grow. Mint intends to provide remittance services to this captive client base using blockchain enabled technology. A key element of Mint’s strategy is to provide remittance services via its mobile wallet for its customers, many of whom send money home to their families regularly. Remittance is an area where blockchain solutions are gaining significant traction.By launching new applications leveraging blockchain technology, Mint expects to reduce its costs and develop accretive revenue opportunities that do not exist in its current business plan.Dubai Government is taking the lead and recently announced they intend to become the first blockchain-powered government by 2020 and are actively working to develop a world class fintech hub in Dubai. Mint is well positioned to benefit from this initiative. “We believe that blockchain technology will enhance our core business and offering blockchain based solutions within our remittance service is a logical next step for Mint,” stated Vishy Karamadam, CEO, Mint Corp. Forward Looking StatementsThis news release contains forward-looking statements. Forward-looking information include statements with respect to Mint’s intention to provide remittance services using blockchain enabled technology and Mint’s expectation that the use of that technology will reduce costs and develop accretive revenue opportunities. The forward-looking statements are based on certain expectations and assumptions made by the Company. Although the Company believes that those expectations and assumptions are reasonable, undue reliance should not be placed on the forward-looking statements because the Company can give no assurance that they will prove to be correct. Since forward-looking statements address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results could differ materially from those anticipated due to a number of factors and risks. The provision of remittance services using blockchain enabled technology will require modifications to Mint’s existing technology platform. Mint must obtain the expertise necessary for that purpose, modify its platform and complete testing, prior to launching the blockchain enabled service. While Mint believes that blockchain enable technology will reduce costs, the extent of that reduction in costs cannot be determined at this time. The addition of new revenue opportunities assumes that other remittance service providers will be interested in obtaining blockchain enabled remittance services through Mint. The forward-looking statements contained in this press release are made as of the date hereof. The Company 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 laws.About The Mint CorporationMint, through its majority owned subsidiaries (the “Mint Group”), is a leading globally certified payments company focused on offering financial services to the unbanked salaried worker based in Dubai, United Arab Emirates (UAE). The Mint Group provides employers with payroll disbursement service by offering salaries via a reloadable globally accepted prepaid card issued under MasterCard and Union Pay International schemes for their unbanked employees. These employees earn regular salaries and have long-term work permits. The Mint card effectively becomes a cardholder’s bank account. The Mint Group offers a comprehensive suite of value added services for its corporate clients and to their employees via a fully functional mobile application linked to their card account. The Mint Group network covers the entire spectrum of payments value chain from issuing, processing and acquiring with its own proprietary ATM network and does the processing and settlement of transactions through its in-house payment platform.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 CorporationKym NoEmail: [email protected]Tel. 647-252-1664www.themintcorp.com
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